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November 30 (Renewables Now) - Ørsted A/S (CPH:ORSTED) has inked a corporate power purchase agreement (PPA) with Google for the tech group to buy power from 50 MW of the Danish energy company’s 900-MW Borkum Riffgrund 3 offshore wind project in Germany.
The project in the German North Sea was awarded with a zero-subsidy bid and the 12-year offtake contract with Google will help provide revenue certainty and mature the development towards a final investment decision, Ørsted said today. The final investment decision is expected by the end of the year, with the wind park seen to be completed in 2025.
The deal supports Google’s goal of operating on 24/7 carbon free energy by 2030. According to Rasmus Errboe, head of region Continental Europe at Ørsted, the PPA shows that offshore wind plays a key role in enabling a 24/7 carbon-free energy solution in Europe.
This is the latest PPA that Ørsted secures for Borkum Riffgrund 3. Earlier this month, it unveiled a 25-year PPA with BASF SE (ETR:BAS), under which the German chemicals company will purchase the output of 186 MW from the wind farm at a fixed price.