Amazon, the technology company based in
Rasmus Errboe, Senior Vice President, Head of Region Continental Europe at Ørsted Offshore and responsible for Corporate PPAs, said:
“We applaud Amazon’s leadership in corporate renewable energy investments which helps drive the green energy transformation forward. This agreement shows that Ørsted is well placed to help corporations with green ambitions act on the global climate challenge. The CPPA with Amazon on Borkum Riffgrund 3 will drive this breakthrough zero-subsidy project a step closer towards realization, where it will supply large amounts of clean electricity for Germany’s green transition.
“We are proud to work with Ørsted on Amazon’s first offshore wind CPPA, Europe’s largest with 250MW of renewable energy,” said
The 250MW CPPA, the largest ever for offshore wind in
With this agreement with Amazon, Ørsted has over the past 12 months signed CPPAs for an accumulated capacity of 1,301MW across its global offshore wind portfolio.
The information provided in this announcement does not change Ørsted’s previous financial guidance for the financial year of 2020 or the announced expected investment level for 2020.
Facts about Borkum Riffgrund 3
- Borkum Riffgrund 3 is expected to become operational in 2025, after Ørsted's final investment decision, expected end of 2021.
- Borkum Riffgrund 3 will have a total capacity of 900MW and will be located in the
German North Sea adjacent to Ørsted's existing offshore wind farms Borkum Riffgrund 1 and Borkum Riffgrund 2. - The wind farm will be built and operated without subsidies. This is made possible by a set of cost drivers including the installation of next generation wind turbine technology, very good site conditions and high wind speeds, grid connection costs not being part of the project, plus the potential for stabilising revenues through corporate power purchase agreements like the 250MW CPPA with Amazon.
- Borkum Riffgrund 3 comprises three offshore wind projects which were originally awarded to Ørsted in auctions in 2017 and 2018 under the names of Borkum Riffgrund West 1 (420MW), Borkum Riffgrund West 2 (240MW), and OWP West (240MW). The three projects were renamed in
September 2019 and will be built as one joint project under the name of Borkum Riffgrund 3. - In
December 2019 , Ørsted signed a 10-year corporate power purchase agreement with Covestro, a world-leading supplier of high-performance polymer materials. Under the agreement, Covestro will buy the output of 100MW from Borkum Riffgrund 3.
For further information please contact:
Ørsted Group Media Relations
+45 99 55 60 17
tomlc@orsted.dk
Ørsted Investor Relations
Allan Bødskov Andersen
+45 99 55 79 96
ir@orsted.dk
About Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. Ørsted ranks #1 in Corporate Knights' 2020 index of the Global 100 most sustainable corporations in the world and is recognised on the CDP Climate Change A List as a global leader on climate action. Headquartered in
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