Another German offshore wind farm - the 400 MW Bard Offshore 1 project developed by Bard Engineering - has changed hands, this time to a duo of investors, both of which are conglomerates of municipal energy utilities.
A newly established subsidiary of Sudwestdeutsche Stromhandel (SWDS), an energy trading company founded by around 30 municipal utilities in 1999, has taken a 70% share in the project. The remaining 30% is taken by WV Energie, which is a joint venture comprising 200 municipal energy companies, and oil and gas company Wintershall, part of the BASF group. Debt financing for the project is being supplied by the Unicredit bank group, says SWDS.
Construction of the offshore station is due to begin this autumn, with commissioning planned for mid-2011. Turnkey installation remains the responsibility of Bard Engineering, which is supplying its 5 MW machines and has its own ship dedicated for offshore turbine installation and maintenance. Bard will also operate the project for 20 years.
The wind farm's annual electricity generation should reach about 1.6 TWh, enough to meet the annual electricity demand of around 400,000 households.