Deals
Offshore Wind Farms Offer Subsidy-Free Power for First Time
- EnBW, Dong bid to build projects in Germany with no support
- Record low price for power is below prevailing market rate
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German’s electricity grid regulator approved bids to build what will be the first offshore wind farms that depend entirely on market prices instead of government support and subsidy.
The decision by Bundesnetzagentur, or BNetzA, grants power purchase agreements for 1,490 megawatts of wind farms to be built in the North Sea. Developers promised to supply power from the facilities at a record-low weighted average of 4.40 euros ($4.67) a megawatt-hour, less than a tenth of the previous offshore wind deal, the regulator said Thursday.