Fid Financial Close

In November 2013, DONG Energy (now Ørsted) took the final investment decision to build the Gode Wind 1 and Gode Wind 2 offshore wind farms in the German North Sea. The decision covered 97 Siemens 6 MW turbines with a total capacity of 582 MW, of which Gode Wind 2 accounts for 252 MW. The combined investment for the two projects was stated at approximately EUR 2.2 billion. DONG Energy had already obtained an unconditional grid connection confirmation from transmission system operator TenneT for both wind farms. Under Germany’s Stauchungsmodell support regime, the projects would receive a fixed electricity price for the first ten years of operation, after which they would earn the market price. With FID in place, offshore construction was scheduled to begin in the first half of 2015, with full commissioning expected in the second half of 2016.