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December 15, 2021

Vattenfall reaches final investment decision for two Danish wind farms

The two wind facilities will provide clean electricity to Danish consumers by the end of 2023.

By Umesh Ellichipuram

Vattenfall has reached the final investment decision (FID), valued at $866m (€769m), to build the Vesterhav Syd (168MW) and Vesterhav Nord (176MW) offshore wind farms in Denmark.

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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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The investment decision will enable Vattenfall and its suppliers to begin the final phase of development works at the two wind farms.

Vattenfall CEO Anna Borg said: “At Vattenfall, we want to enable fossil-free living within one generation, and we will continue to work towards this goal step by step through projects such as the Vesterhav offshore wind farms.”

The facilities will have a combined installed capacity of 344MW, which will be sufficient to meet the annual electricity consumption of more than 350,000 households in Denmark.

Vesterhav Syd and Nord will be equipped with 20 and 21 wind turbines, respectively, and are expected to deliver clean electricity to the Danish industry, as well as consumers by the end of 2023.

Additionally, they will contribute to Denmark’s green transition in the near future.

For these two projects, Vattenfall has selected Siemens Gamesa to supply wind turbines and Jan de Nul for turbine installation.

Bladt Industries and EEW have been finalised for manufacturing the foundations, and DEME has been chosen for foundation installation.

Hellenic was selected to manufacture cables, and Asso will complete their installation.

Vattenfall wind business area head Helene Biström said: “We are entering the final phase of the project together with a group of strong suppliers in order to finish the wind farm by 2023.

“The decision is a sign of our commitment to the green transition in Denmark and Vattenfall’s contribution to the offshore wind industry and local job creation.”

Vesterhav Syd and Nord are the only state-tendered facilities planned to be built in the country between now and the Thor Offshore Wind Farm, which is scheduled for commissioning in 2027.

The company also plans to build a new service facility on the west coast of Denmark, which will serve the Vesterhav Syd, Vesterhav Nord and Horns Rev Three wind farms.

In a previous development, Vattenfall secured planning approval from the UK Government for its 1.8GW Norfolk Boreas offshore wind farm.

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Free Report
img

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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