More evidence of competitive wind power with Vattenfall’s Baltic deal

Vattenfall has won a tender to build the Danish Kriegers Flak wind power project on the Baltic coast. Kriegers Flak offshore wind farm

The Swedish state utility won the 600 MW wind power tender with a bid of €49.9/MWh and said it would invest between $1.19bn and $1.4bn in the project, subject to a final investment decision.

The low cost investment reinforces the steep reductions in offshore wind costs the industry has delivered in recent years. Up until recently projects regularly cost around £100/MWh ($123/MWh), before the industry integrated ways of innovating the costs downwards.

Magnus Hall, CEO of Vattenfall said,"The announcement is an essential milestone for our ambition to increase our production of renewable power. We are already the second largest offshore player globally.

The winning bid of €49.9 per MWh proves that Vattenfall is highly competitive and brings down the costs for renewable energy."



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...

A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...

Storm Impact Analytics for Utilities

In recent years, increasingly volatile and extreme weather events have significantly impacted the...