EnBW and Investors to Commit €2.4 Billion for Offshore Wind Farm

EnBW has decided to build a €2.4 billion, 960 MW offshore wind farm in the German North Sea without state subsidies. The project is possible due to the use of the latest wind turbine technology, existing site synergies, and long-term power purchase agreements with industrial customers. EnBW has secured €600 million from the European Investment Bank to finance the project, and a consortium consisting of Allianz Capital Partners, AIP, and Norges Bank Investment Management has acquired a 49.9% stake. The wind farm is expected to be operational by the end of 2025 and will generate green electricity for around 1.1 million households.

resource: https://esgnews.com/enbw-and-investors-to-commit-e2-4-billion-for-offshore-wind-farm/

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