11th January 2017

Vattenfall has signed an agreement to acquire an offshore wind-project in the German North Sea. The project, Atlantis I, has a potential of more than 70 windturbines.

The offshore wind project Atlantis I is located in the German North Sea, 84 kilometers north-west off the island of Borkum. The seller, PNE WIND AG, is one of the leading German wind farm developers and will remain involved in the further development of the project as a long-term service provider.

Commissioned earliest in 2025
The acquisition is still subject to various closing conditions. The purchase price has not been revealed, but is described by the parties as being “in a lower double digit million Euro amount”. The project site allows for up to 73 wind turbines of multi megawatt class. A prerequisite for Vattenfall to construct the project is that the project is being awarded a subsidy contract in any of the upcoming transitional tenders to be held in 2017 or 2018, and if so, the wind project will be commissioned earliest in 2025.

Apart from the “Atlantis I” project, Vattenfall in summer 2016 acquired the offshore wind project Global Tech II, which is located adjacent to Atlantis I. A third wind-power project in the North Sea, Sandbank Plus, is also being prepared for the transitional tenders.

“The acquisition of Atlantis I is a very good start for us into the new year and I am really delighted. After our successful participation in the tender rounds in Denmark last year where we could reinforce our offshore wind portfolio with another 950 MW, we are now well on track in the German market as well,” says Gunnar Groebler, Senior Vice President and Head of Business Area Wind at Vattenfall.

Today, Vattenfall operates more than 1,100 wind turbines with a total installed capacity of 2,200 MW. By 2020, Vattenfall will double its wind capacity on and off shore with an annual expansion of 400 to 600 MW.

Source credit: http://news.vattenfall.com/en/article/vattenfall-acquires-german-offshore-wind-power-project

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