Just over 1 billion euros has been invested in Horns Rev 3 which will be commissioned in 2018 and will generate enough electricity to power 400,000 Danish homes. Vattenfall won the bid for the concession to build Horns Rev 3 in February 2015. The company is currently the second largest operator of offshore wind farms in the world and one of the biggest players in Denmark. Horns Rev 3 will reinforce the company’s position as a leader in renewable electricity, both in Denmark and across Europe.
Vattenfall is actively seeking to reduce the construction costs of offshore wind power, thereby also cutting the generation cost per kilowatt hour (kWh). This will allow Horns Rev 3 to be built and commissioned in just under three 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” said President and CEO of Vattenfall, Magnus Hall. “Horns Rev 3 also gives a clear signal to the world around us that Vattenfall´s strategy is to make new investments in renewable electricity generation and to grow in wind. Vattenfall supports the transition to a totally renewable energy system and takes up the challenge, in spite of current low electricity prices and excess capacity.”
Gunnar Groebler, Head of Vattenfall Wind, added that the offshore wind farm is real milestone for the company, clearly showing that competition is a suitable way to reduce costs for offshore wind significantly. The wind farm is the cheapest recent offshore project and has gained from experience acquired by the company on other wind projects, underlining its ambition to lead the industry in a highly competitive market environment.
Vattenfall currently owns 60 percent of the 80-turbine Horns Rev 1 and operates and is building two offshore wind farms in the German North Sea in partnership with Stadtwerke München. These wind farms are Dan Tysk (inaugurated May 2014) and Sandbank (to be inaugurated 2017). In addition, Vattenfall will inaugurate the extension to the Kentish Flats wind farm in the UK on 6th June this year. In total, Vattenfall owns around 2,200 MW of wind power, 1,300 MW of which is offshore in more than 1,000 wind turbines.
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