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Northland acquires 252MW DeBu offshore wind farm in Germany

CTBR Staff Writer Published 18 August 2017

Canada-based Northland Power has completed the acquisition of British Wind Energy, the owner of the 252MW Deutsche Bucht project (DeBu) in offshore Germany.

A definitive agreement in this regard was signed in March by Northland Power to buy 100% of British Wind Energy from Highland Group.

DeBu, which will be Northland's third offshore wind project, will be built with an investment of nearly €1.3bn. The offshore wind project will be located in the German North Sea, 95km of the island of Borkum in the northwest direction in the German Exclusive Economic Zone.

Northland says that it is likely to invest about $400m of corporate funds in the wind farm, with the remainder to be funded through project finance debt and pre-completion revenues.

As of now, the DeBu offshore wind project is in an advanced stage of development and is subject to financial close.

The project will feature wind turbines from MHI Vestas Offshore Wind and upon its completion is planned to be connected to the existing 800MW BorWin Beta off-shore converter station.

According to Northland, the DeBu project is evaluating the development of two more demonstration turbines using suction bucket foundations. It says that the final investment decision for the additional turbines to increase the wind farm capacity by 17MW is based on achieving particular development milestones.

Construction of the German offshore wind project is likely to commence shortly following financial close. The project is slated to be completed by the end of 2019.

Northland’s other two offshore wind projects are the 600MW Gemini offshore wind farm and the 332MW Nordsee One offshore project.

The Gemini offshore wind farm is located off the Netherlands coast in which Northland has a 60% stake while the Nordsee One offshore project is located in the German North Sea in which the Canadian company holds an 85% stake.

Image: Northland has acquired the Deutsche Bucht offshore wind project. Photo: Courtesy of xedos4/FreeDigitalPhotos.net.