BKW : signs long term power purchase agreement with offshore wind farm Butendiek
December 18, 2023 at 04:22 am EST
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BKW signs long term power purchase agreement with offshore wind farm Butendiek
200 gigawatt hours of fixed-price green electricity per year
BKW and OWP Butendiek, an offshore wind farm based in northern Germany, have concluded a long term power purchase agreement (PPA). Each year, BKW will draw around 200 gigawatt hours of green electricity from the wind farm in the North Sea off Germany.
Bern, 18 December 2023
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Press release(PDF, 289 kB)
The Butendiek offshore wind farm has an output of around 288 megawatts. Starting in July 2024, BKW will purchase 18 percent of its total production at a fixed price - approximately 200 gigawatt hours per year. This PPA enables BKW to greatly expand its renewable energy portfolio and supply customers with clean electricity. By purchasing electricity at a fixed price over multiple years, BKW strengthens the investment security of producers and enables the financing of new renewable energy projects.
A win-win situation
Amanda Niklaus, Head of Renewables PPA Origination, BKW, is very satisfied with the purchase agreement: «It's nice to see our portfolio developing and that we are playing an increasingly important role in the PPA market. We are pleased to enter the offshore wind market with this agreement, placing us as a serious PPA counterparty.»
Björn Nullmeyer, Butendiek's Director and CFO at wpd (development and operation of wind farms and solar parks), says: «This PPA is ideal as it provides us with additional investment and planning security over many years. It has been a strong cooperation which is very important to us. We are pleased with the negotiations with BKW and look forward to the continued collaboration.»
PPA business is growing steadily
BKW has been active in the PPA business for years now. There have been many agreements concluded this year. They include a PPA in summer 2023 with the German solar farm developer and operator Greenovative and another with the German developer MaxSolar.
You can find more information on BKW's PPA activities here.
OWP Butendiek
Butendiek is an offshore wind farm in the German part of the North Sea, located 32km off the island of Sylt, and 53km from the mainland. The wind farm is owned by a consortium consisting of CITIC Pacific Limited, Industriens Pensionsforsikring, ITOCHU Corporation, Greencoat Renewables, Octopus Energy Generation and wpd. Construction of the wind farm began in spring 2014 west of the island of Sylt. The 80th wind turbine was installed in June 2015. At that time, more than half were already in operation. Full commissioning followed in August 2015.
BKW AG published this content on 18 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 December 2023 09:21:47 UTC.
BKW AG (BKW) is a Switzerland-based company engaged in the energy sector. It covers energy supply, from production and transmission to trading and distribution. The Company's production portfolio incorporates hydroelectric and nuclear power plants, gas-fired power plants and renewable energy facilities. Its subsidiaries include Aicher, De Martin, Zweng AG (ADZ), Arnold AG, engaged in the construction and maintenance of energy, telecommunications, transport and water infrastructure networks; Antec Group AG, engaged in building technology infrastructure services; BKW ISP AG, engaged in electrical installation, telematics and photovoltaics; Ingenieurgemeinschaft Bilek + Kirschner GmbH and Kraftwerks- und Anlagen Engineering GmbH, which focus on engineering services and consulting; IWAG Ingenieure AG (IWAG); Schmid Amrhein AG; Inag-Nievergelt AG (Inag), as well as Enerpeak AG, offering energy and safety engineering solutions for buildings, among others.
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