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October 30, 2018

Iberdrola opens €1.4bn Wikinger offshore wind farm in Germany

Spanish electric utility company Iberdrola has officially opened the 350MW Wikinger offshore wind farm in Germany.

Spanish electric utility company Iberdrola has officially opened the 350MW Wikinger offshore wind farm in Germany.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Built with an investment of more than €1.4bn, the new wind farm is located off the north-east coast of the German island of Rügen.

The Wikinger wind farm is equipped with 70 5MW Siemens Gamesa AD 5-135 turbines, which were manufactured at the company’s plants in Bremerhaven and Stade (Germany).

The renewable energy generated by the farm is supplied to the German grid and will be sufficient to power 350,000 homes in the region.

Wikinger offshore wind farm will be the first facility that has been completely designed and operated by a Spanish company and is expected to displace nearly 600,000t of carbon dioxide per year.

More than 2,000 employees from 20 different countries are reported to have participated in this project.

"This wind farm is a clear example of cutting-edge technology and it showcases the enormous potential of Europe’s energy industry to lead the Continent’s reindustrialisation through innovation."

Iberdrola chairman Ignacio Galán said: “Wikinger represents a new step in our commitment to supplying clean, efficient and reliable electricity. We will continue to champion offshore wind technology since it enables us to drive the energy transition to a sustainable, low carbon economy.

“This wind farm is a clear example of cutting-edge technology and it showcases the enormous potential of Europe’s energy industry to lead the Continent’s reindustrialisation through innovation.”

With the opening of the new offshore wind farm in Germany, Iberdrola has entered into the German electricity market and also secured contracts to build two new offshore wind farms including Baltic Eagle (476MW) and Wikinger Süd (10MW).

The combination of the three wind farms near the island of Rügen will create an 836MW offshore wind complex in the Baltic Sea, with a combined investment of €2.5bn.

Andalucía offshore substation, which is reported to be one of the key pieces of Wikinger’s infrastructure, will be used by Iberdrola and Germany electricity system operator 50Hertz.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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