Global Tech 1 to profit from delay to Hohe See

Avoiding 'wind shadow' to boost earnings by €13m/year

German developer, Windreich, says the Global Tech 1 project will profit to the tune of millions of euros from EnBW's decision to postpone its 500MW offshore wind project, Hohe See.

The 80 Areva 5MW turbines that will form Global Tech 1 will benefit from less wind turbulence and a better performance as long as Hohe See is not built, says Windreich. Hohe See was formerly known as Hochsee Windpark Nordsee.

Global Tech 1 is currently under construction, at a neighbouring location in the North Sea to the one earmarked for Hohe See. Without the wind shadow effect that is expected from Hohe See turbines, Global Tech 1’s machines will deliver a collectively higher output.

Last week, EnBW announced it has put Hohe See on hold, largely due to uncertainty about the timing of the project’s grid connection.

Windreich expects Global Tech 1 to achieve a 4% increase in annual earnings, thanks to higher-than-expected income from electricity sales. The increase is estimated by Windreich to translate into about €13m per year, bringing the forecast for the wind farm’s annual sales to €343m.

Global Tech 1 is due to begin delivering power next spring and to be fully commissioned by the end of 2013. Windreich holds an 8% stake, and has sold the remaining 92% to six companies.

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