EnBW Wins Contract for Iberdrola Offshore Wind Park
EnBW, Germany's No.3 utility, has won a services contract for Iberdrola (IBE.MC)'s offshore wind park Wikinger, banking on its track record in building and operating renewable assets as it shifts away from fossil-fuel power generation.
Under the two-year contract, EnBW will handle the "coordination of shipping traffic, health and safety and environmental protection" at the construction site of the park, which Iberdrola said will cost 1.4 billion euros ($1.6 billion).
To be located in the German Baltic Sea, Wikinger will comprise 70 wind turbines with a total output of 350 megawatts (MW), enough to power more than 350,000 households. Construction is scheduled to start in March and planned to be completed by the end of 2017.
"Iberdrola can draw on the expertise of a proven team and benefit from the comprehensive experience acquired by EnBW during construction of the first two offshore wind farms off the German Baltic coast," EnBW manager Nikolaus Elze said.
No financial details of the service contract were disclosed.
Offshore wind, the fastest-growing area in renewables, is key to EnBW's plan to increase the share of green energy in its generation portfolio. The group last year raked in 720 million euros by selling nearly half of its Baltic 2 offshore wind farm to Australian investment group Macquarie.
It eyes an investment decision in the second half of 2016 for its 500 MW Hohe See project, which could be worth more than 2 billion euros.
(Reporting by Christoph Steitz)
