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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

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    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    GE’s digital power transformers selected for multiple projects across the globe

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    bp to invest up to £18 billion in UK energy system by 2030

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    Statkraft seeks planning nod for 49.9-MW Scottish wind farm

    VSB Group Expands in France with Acquisition of 143.5 MW Wind Power Portfolio

    Norway to invest in renewable projects in developing countries

    Italian Solar Farms, Matrix in Strategic Partnership with Energia Aljaval

    China installed 48.2 GW of new solar capacity in 2020

    Solek Group signs deal to build solar power plants in Chile

    Trina Solar betting on largest wafer size and third cut cells for 500W-plus modules

    TotalEnergies to Acquire SunPowers Commercial & Industrial Solar Business

    Vattenfall Wind

    UK Government grants consent for Vattenfall’s Norfolk Vanguard Offshore Wind Farm

    New DNV GL class rules for floating offshore wind energy expands industry horizon

    Norway to launch 1.5 gigawatt offshore wind tender

    Atlas and Hitachi to develop energy storage systems for renewable projects

    Velto Renewables supports the 360 MW offshore wind farm London Array

  • Market Moves
    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

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    GE’s digital power transformers selected for multiple projects across the globe

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Denmark gets cheaper power from offshore wind turbines

in News, Renewable Power, Wind Energy

With a price of 10.31 Eurocent per. kWh., the new offshore wind farm, Horns Rev 3, will provide power much cheaper than other recently established offshore wind farms in Denmark and abroad.

By Jesper Caruso, Ministry of Climate, Energy and Building. Published by State of Green, february 27 2015.

The winning tender for the wind farm Horns Rev 3 came from Vattenfall Vindkraft A/S who have agreed a price of 10.31 Eurocent per. kWh. In comparison with previous price assumptions, this means that Danish consumers will experience a saving of approximately 295 million Euros. over the next 11-12 years, which is the period during which the offshore wind farm will be in receipt of subsidies. Thereafter, the Horns Rev 3 facility will produce electricity at the market price and will no longer receive any form of subsidy.

The winning bid is well below the 14.07 Eurocent (15.15 Eurocent in fixed 2015-prices) which is the price being charged by Anholt Offshore Wind Farm. Horns Rev 3 is thus 32 percent cheaper than the last time Denmark built an offshore wind farm. This makes it the cheapest offshore wind park in Europe at the moment.

Compared to other wind farms abroad, this represents a very low price. Though a direct comparison is not possible, in the UK – the largest market for wind turbines – the cheapest parks currently being built cost 15.33 Eurocent / kWh in 2015. In addition to this the subsidies are adjusted for inflation and, in contrast to Denmark, the subsidy period is 15 years instead if the 11-12 years afforded in Denmark.

”With Horns Rev 3 Denmark is making windmill history through realising a significant reduction in the cost of establishing offshore wind farms. There is no doubt that the power from offshore wind turbines will continue to be an essential part of the green transition and contribute effectively to reducing CO2 in the atmosphere,” says Minister for Climate, Energy and Building Rasmus Helveg Petersen.

The low price is due in large part to technological developments throughout the wind turbine industry combined with a very successful tendering process. Through extensive dialogue and subsequent negotiations with the bidders, the DEA have managed to lower the price considerably. At the same time, a good, competitive environment was fostered around the windmill tendering process in which four companies were pre-qualified to participate.

“The low price is not just good for Denmark, but also for the international green transition. The general decline in prices in the market for wind power means that offshore wind power is now well on its way to becoming a viable competitive alternative to traditional fossil fuels. At the same time, we have developed an efficient procurement model which the whole of Europe can take inspiration from,” says Rasmus Helveg Petersen.

The successful bid has already been approved by the signatories of the Energy Agreement 2012 and must now be adopted by parliament and signed into law. The government will present the bill on March 18 and the proposal is expected to be adopted during April with the backing of a large political majority in parliament.

Facts about Horns Rev 3

– The winner of the tendering process is Vattenfall Vindkraft A/S.

– The agreed price is 10.31 Eurocent per. kWh.

– The construction of Horns Rev 3 is to commence as soon as possible and the park is to be completed by 1 January 2020.

– The first turbines will be able to be connected to the grid from January 1 2017 when they will be functional and ready to supply power to the grid.

– There were four companies pre-qualified to participate in the tender.

– Horns Rev 3 will result in the creation of up to 7,000 jobs over a three year period starting in 2016.

– Electricity production from the park will be enough to supply the needs of 450,000 households.

– Establishing this facility will increase the wind-sector’s share of electricity consumption in 2020 by 4.8% points from 46.2% to 51.0%.

– CO2 emissions will be reduced by 1.16 million tons.

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