Vattenfall enters new offshore wind farm project with investment of over one billion Euros

Source: Vattenfall Wind Power

Forcefully investing in renewable energy, Vattenfall has now entered into the DanTysk project for the construction of an offshore wind farm in the North Sea. The wind farm will produce renewable energy equivalent to the electricity consumption of 500,000 households.

The project is among the biggest ones in offshore wind power and implemented as a joint venture by Vattenfall and Stadtwerke München (SWM).

The total investment is estimated to more than one billion Euros. In the joint venture DanTysk Offshore Wind GmbH, Vattenfall has 51 percent and SWM 49 percent of the shares. Vattenfall will be responsible for the construction, which will begin in 2012, and the operation of the wind farm.

The North Sea wind farm will be situated roughly 70 kilometres to the west of the German island of Sylt. With a capacity of 288 megawatts (MW), and an output of around 1,320 GWh electricity, the wind farm will supply enough renewable power to supply electricity more than 500,000 homes, based on an average electricity consumption of 2,500 kWh per home.

The DanTysk wind farm will consist of 80 wind turbines erected in an area of approximately 70 square kilometres in water that is up to 30 metres deep. Relevant authorities have approved the project and the preparations are in full swing. The first supplier contracts have been signed, and foundational construction and the laying of cable are currently being negotiated. Siemens will deliver the turbines, which will be commissioned in 2013. The completion of the wind farm is expected around New Year 2013/2014.

Øystein Løseth, Vattenfall’s CEO, says:

“Vattenfall keeps investing in renewable energy for long-term reduction of our CO2 emissions. Less than a month ago we inaugurated ‘Thanet’, the world’s largest offshore wind farm to date, off the coast of England. With DanTysk, we are continuing our engagement in Germany that we successfully began with our partners in the construction of Alpha Ventus, Germany’s first offshore wind farm. We are delighted that we will be implementing the DanTysk project together with Stadtwerke München as a major partner.”

Dr. Kurt Mühlhäuser, head of the SWM executive board, says:
“There are two reasons why DanTysk is important to SWM. One is that this is a very promising project that we are implementing together with Vattenfall. The other is that this wind farm represents a milestone in our renewable energy development initiative. Together with previously initiated or implemented projects, DanTysk will enable us to supply approximately 800,000 households with renewable electricity as well as meet the electrical needs of the Munich subway and tram system.”
Vattenfall discloses the information provided herein pursuant to the Swedish Securities Market Act.

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