DONG makes its largest investment ever

Company putting 16 billion kroner into German offshore wind project

Nov 18, 2013

DONG Energy is investing 16.4 billion kroner in its German offshore wind farm project. According to the company, it is its largest investment ever.

The installations, called Gode ??Wind 1 and 2, will consist of 97 wind turbines from Siemens Wind Power. They are expected to supply power equal to the annual consumption of about 600,000 German households, according to a statement from Dong.

“The investment in the 582 MW Gode Wind projects are our biggest ever and will consolidate our position as a leader in offshore wind energy,” said DONG head Samuel Leupold.

DONG will get a fixed price per kWh of electricity produced during the first ten years of the wind farm’s operation. After that, it will get the market price.

A mighty wind
Gode ??Wind 1 and 2 are 45 km from the German coast in the North Sea. They will be built as an extension of the Borkum Riff Plot 1 project currently being built by DONG.

“With the construction of a wind farm in an area with good wind and seabed conditions, relatively close to the coast and a cluster where we can reap synergies from other offshore wind farms, the Gode Wind projects are a good business case for DONG,” said Leupold .

DONG expects to begin construction of the Gode Wind farm in the first half of 2015 and have them online by the second half of 2016. DONG purchased the Gode Wind projects in August 2012.

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