September 20 (Renewables Now) - A 1.4-GW offshore wind project by German energy company Innogy SE (ETR:IGY) is on the list of winners in the UK’s third contracts for difference (CfD) auction.
The GBP-3-billion (USD 3.75bn/EUR 3.4bn) Sofia wind farm got a price of GBP 39.65 per MWh. The final investment decision (FID) for the project is to be made next year, with onshore works planned to commence in 2021, followed by offshore construction from 2022. Full commissioning of the park is scheduled for 2026, while first power will be produced in 2024/25, Innogy said today.
The wind turbines will be installed at shallow water depths of 21 metres to 36 metres on Dogger Bank in the North Sea. The annual power generation is estimated to be enough for nearly 1.2 million homes.
Innogy owns 100% in the project and will be reviewing all options regarding the ownership and financing structure.
The CfDs are awarded for 15 years.
(GBP 1 = USD 1.25/EUR 1.13)