en.Wedoany.com Reported - Danish energy giant Ørsted announced on Thursday that it has signed a seven-year Power Purchase Agreement (PPA) with the 330-megawatt Gode Wind 1 offshore wind farm in the German North Sea, committing to long-term electricity procurement from the facility.
The PPA was signed with the wind farm's co-owners, including Nuveen, Equitix, and The Renewables Infrastructure Group Ltd (LON:TRIG). Nuveen is the global asset management subsidiary of TIAA. Ørsted holds a 50% stake in the wind farm.
Located approximately 45 kilometers off the coast of Lower Saxony, Germany, the Gode Wind 1 wind farm comprises 55 turbines, each with a capacity of 6 megawatts, and has been operational since February 2017. It is part of a larger complex exceeding 800 megawatts, which also includes the Gode Wind 2 and 3 wind farms. The signing of this PPA provides revenue certainty for the project's long-term operation and reflects the trend of mature offshore wind assets continuing to create value through commercial PPAs after the phase-out of subsidy policies.
