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Released June 13, 2016 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Denmark's largest offshore windfarm is to go ahead following a final investment decision by Swedish energy giant, Vattenfall AB (Stockholm, Sweden).
Vattenfall announced that it is about to start construction of the 400-megawatt (MW) Horns Rev 3 project located off the west coast of Denmark. Valued at more than 1 billion euro ($1.13 billion), it will use 49 turbines from Vestas Wind Systems A/S (OMX:VWS) (Aarhus, Denmark) rated at 8.3-MW each; Vestas is the largest commercial offshore turbine in the world. Vattenfall was chosen by the Danish government last February over rivals Dong Energy (Fredericia, Denmark), Statoil ASA (NYSE:STO) (Stavangar, Norway) and E.ON AG (FWB:EOAN) (Dusseldorf, Germany). When commissioned it will provide enough electricity for more than 400,000 homes. For additional information, see March 6, 2015, article--Vattenfall Wins Horns Rev 3 Offshore Wind Project.
Horns Rev 3 is being hailed as Europe's cheapest offshore project. According to the Danish Ministry of Climate, Energy and Building, it will boast low lifetime running costs of just over 0.10 euro cent per kilowatt hour (kWh) of electricity. This makes it 32% cheaper than Denmark's 400-MW Anholt offshore windfarm, which charges 0.14 euro cent per kWh. The government expects that it will save approximately 295 million euro ($333 million) over the next 10-11 years.
"Horns Rev 3 is an important part of Vattenfall´s ambitions in the field of wind and particularly on our focus on offshore wind farms," explained Vattenfall President and Chief Executive Officer, Magnus Hall.
Gunnar Groebler, head of Vattenfall Wind, added: "It is a real milestone for us; it clearly shows that competition is a suitable way to reduce costs for offshore wind significantly. Horns Rev 3 is the cheapest recent offshore project, and the experience we have gained from our other wind projects had a very positive impact. This project underlines our ambition to lead the industry in a highly competitive market environment."
Engineering firm A2SEA (Fredericia, Denmark) has been contracted to install the turbines using its purpose-built offshore installation vessel "Sea Installer," starting in the summer of 2018.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
Vattenfall announced that it is about to start construction of the 400-megawatt (MW) Horns Rev 3 project located off the west coast of Denmark. Valued at more than 1 billion euro ($1.13 billion), it will use 49 turbines from Vestas Wind Systems A/S (OMX:VWS) (Aarhus, Denmark) rated at 8.3-MW each; Vestas is the largest commercial offshore turbine in the world. Vattenfall was chosen by the Danish government last February over rivals Dong Energy (Fredericia, Denmark), Statoil ASA (NYSE:STO) (Stavangar, Norway) and E.ON AG (FWB:EOAN) (Dusseldorf, Germany). When commissioned it will provide enough electricity for more than 400,000 homes. For additional information, see March 6, 2015, article--Vattenfall Wins Horns Rev 3 Offshore Wind Project.
Horns Rev 3 is being hailed as Europe's cheapest offshore project. According to the Danish Ministry of Climate, Energy and Building, it will boast low lifetime running costs of just over 0.10 euro cent per kilowatt hour (kWh) of electricity. This makes it 32% cheaper than Denmark's 400-MW Anholt offshore windfarm, which charges 0.14 euro cent per kWh. The government expects that it will save approximately 295 million euro ($333 million) over the next 10-11 years.
"Horns Rev 3 is an important part of Vattenfall´s ambitions in the field of wind and particularly on our focus on offshore wind farms," explained Vattenfall President and Chief Executive Officer, Magnus Hall.
Gunnar Groebler, head of Vattenfall Wind, added: "It is a real milestone for us; it clearly shows that competition is a suitable way to reduce costs for offshore wind significantly. Horns Rev 3 is the cheapest recent offshore project, and the experience we have gained from our other wind projects had a very positive impact. This project underlines our ambition to lead the industry in a highly competitive market environment."
Engineering firm A2SEA (Fredericia, Denmark) has been contracted to install the turbines using its purpose-built offshore installation vessel "Sea Installer," starting in the summer of 2018.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
