Enbridge joins EnBW for 497MW Hohe See
Utility EnBW and Canadian energy group Enbridge confirmed they will link to develop the 497MW €1.8bn ($1.9bn) Hohe See wind farm in the German North Sea, and may add another 116MW via the adjacent Albatros project.
Calgary-based Enbridge has acquired 49.9% of Hohe See, while EnBW will retain a 50.1% interest in the wind farm. Confirming previous reports, the two companies will jointly execute and finance the offshore wind farm from construction through to commissioning.
Siemens confirmed it will supply its 7MW turbines to the wind farm, including foundations, as part of its first “extended scope” offshore wind contract.
Siemens to debut 'extended scope' model at 497MW Hohe SeeRead more
EnBW will be responsible for the operation and maintenance of the finished project, said the utility.
“With Enbridge at our side, we can realise our largest offshore wind farm to date and at the same time generate financial scope through this participation for the development of new projects,” said EnBW CEO Frank Mastiaux.
“This is now the third successful participation model with which we are sharing the risk, and represents another major step in the implementation of our EnBW 2020 strategy.”
“With an investment volume of around €1.8bn, we have not only taken one of the largest investment decisions in the history of our company but despite the currently difficult economic conditions, we are continuing to rigorously invest in the implementation of our strategy.”
The two partners also have an option to jointly participate in another EnBW offshore project in the North Sea – the 116MW Albatros wind farm.
“Detailed examination of the technical and economic framework conditions for the project has already reached an advanced stage,” said EnBW.
“The board of EnBW is still expected to take the decision on whether to construct the offshore wind farm in early 2017, which could be realised together with Hohe See and thus offer synergies during the erection and operational phases,” the company said.
A joint project that would include Albatros would raise total output to around 610MW, to be developed by 2019.
Al Monaco, Enbridge CEO, said: “The Hohe See project is consistent with Enbridge’s strategy to increase our presence in the renewable power business and it comes with an additional organic growth opportunity within the European offshore wind market.”
Enbridge wants to take its renewables asset base past 5GW by the end of the decade.
In November 2015 Enbridge followed compatriot Northland Power into the European offshore wind market by buying a stake in the UK’s 400MW Rampion project from E.ON.
Enbridge followed that investment up in spring 2016 by buying into an EDF-led development company that plans to build 1.4GW of offshore wind capacity in French waters.
Global law firm Dentons advised Enbridge on its investment in Hohe See.