Ørsted and Nuveen Infrastructure Reach Milestone with First Turbine Installed at Borkum Riffgrund 3 Offshore Wind Farm

Ørsted and Nuveen Infrastructure Reach Milestone with First Turbine Installed at Borkum Riffgrund 3 Offshore Wind Farm

(IN BRIEF) Ørsted and Nuveen Infrastructure have achieved a significant milestone with the installation of the first wind turbine at the Borkum Riffgrund 3 offshore wind farm in Germany. Once completed, this 913 MW project will be Germany’s largest offshore wind farm and the first worldwide to operate without subsidies, supported by long-term corporate power purchase agreements (CPPAs). Scheduled for commissioning in 2025, Borkum Riffgrund 3, alongside Gode Wind 3, will nearly double Ørsted’s offshore wind capacity in Germany, contributing substantially to the country’s renewable energy goals.

(PRESS RELEASE) FREDERICIA, 20-Jun-2024 — /EuropaWire/ — In a significant milestone for renewable energy in Germany, the first wind turbine has been successfully installed at the Borkum Riffgrund 3 offshore wind farm. Developed by Ørsted in partnership with Nuveen Infrastructure, this project marks a pioneering effort as the largest offshore wind farm in Germany, boasting an impressive 913 MW capacity once operational.

Borkum Riffgrund 3 stands out not only for its size but also as the world’s first offshore wind farm awarded without subsidies, thanks to innovative long-term corporate power purchase agreements (CPPAs) with industrial and technology clients. These agreements, signed by Ørsted, ensure stable revenue streams and demonstrate a forward-thinking approach to sustainable energy solutions.

The installation of the first turbine follows closely after the successful delivery of initial power from the concurrent Gode Wind 3 Offshore Wind Farm, also developed by Ørsted and Nuveen Infrastructure. Together, these projects are poised to nearly double Ørsted’s total installed capacity in Germany, making a substantial contribution to the country’s renewable energy goals.

Peter Obling, Head of Continental Europe at Ørsted, highlighted Borkum Riffgrund 3’s significance, calling it a trailblazer in the offshore wind sector. He emphasized the project’s achievement in surpassing the 900 MW capacity mark and praised the collaborative effort driving its success.

Jordi Francesch, Managing Director of Renewable Energy Investments at Nuveen Infrastructure, underscored their commitment to decarbonizing the German electricity market through projects like Borkum Riffgrund 3. He noted the project’s role in accelerating the energy transition and managing large-scale renewable initiatives effectively.

Felix Gschnell, Programme Director for Borkum Riffgrund 3 and Gode Wind 3, expressed pride in achieving this crucial milestone and acknowledged the dedication of the project team. With construction progressing on schedule, the focus remains on completing the wind farm safely and efficiently.

Borkum Riffgrund 3 features Siemens Gamesa turbines with a capacity of 11 MW each, strategically located approximately 72 km off Lower Saxony’s coast. It introduces an innovative connection concept utilizing 66 kV cables directly linked to the DolWin epsilon offshore converter platform operated by TenneT, eliminating the need for an offshore substation (OSS).

Once operational in 2025, Borkum Riffgrund 3’s CPPAs with major corporations like Amazon, BASF, Covestro, and Google will ensure long-term price stability, benefiting both Ørsted and its industrial partners. The project exemplifies Ørsted’s commitment to sustainable energy solutions and reinforces its leadership in offshore wind development.

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, renewable hydrogen and green fuels facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate Change A List as a global leader on climate action and was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi). Headquartered in Denmark, Ørsted employs approx. 8,900 people. Ørsted’s shares are listed on Nasdaq Copenhagen (Orsted). In 2023, the group’s revenue was DKK 79.3 billion (EUR 10.6 billion).

About Nuveen Infrastructure
Nuveen Infrastructure, rebranded from Glennmont Partners, is the infrastructure investment arm of Nuveen, the investment manager of TIAA with USD 1.2 trillion in assets under management as of 31 March 2024. Nuveen Infrastructure aims to invest in middle market opportunities across multiple strategies and sectors, including clean energy, agribusiness, telecommunications, transportation, and social infrastructure. Our platform offers a diverse set of vehicles and customized strategies as well as deep expertise through an extensive operating partner network.

Media Contact:

Ørsted:
Michael Korsgaard
+45 99 55 94 25
mikon@orsted.com

Nuveen Infrastructure:
Orlando Wind-Cowie
+44 (0) 7707 985 967
o.wc@lodestonecommunications.com

SOURCE: Ørsted A/S