Danish wind energy association CEO Jan Hylleberg said the competition was a main reason behind Vattenfall's bid of €103.1/MWh to develop the 400MW project.
The strong wind resource at the site and a professional tendering process were the other key drivers for the low bid, Hylleberg added.
"These three reasons are the background for having this huge news two weeks ago that we are going that low on offshore wind in northern Europe," he said.
He also said many lessons had been learned over the 20 years of the Danish offshore sector. Horns Rev 1 and 2 were once the largest offshore projects built. Hylleburg said: "We have learned a lot about bringing such big projects offshore. [They were] a very important stepping stone for driving this technology and industry forward."