In order to finance the construction and operation of the first offshore wind farm commercial in Germany, the European Investment Bank (EIB) granted recently, a loan of 80 million euros to the project proponent Energie Baden- Württemberg AG (EnBW).
The new offshore wind farm Baltic EnBW 1 is located in the zone of 12 nautical miles off the coast of Mecklenburg-Western Pomerania, at the height of the cities of Prerow and Zingst.
EnBW Baltic 1 involves the installation of 21 turbines with a capacity of 2.3 MW each. The wind farm, with a total capacity of 48.3 MW, will produce annually about 185 GWh of electricity to the public distribution system. The project also involves installation of an offshore transformer station, connecting the wind farm at the coast by a submarine cable to high voltage. EnBW Baltic Park 1, installed in 2010, among currently operating.
“The ambitions of Germany in the field of renewable energies fall in line with the joint efforts at EU level. The EIB is committed to making the fight against climate change a priority area of intervention. For the past year alone, loans dedicated to action for climate reached a record level of 30% of total loans granted. In this regard, the offshore wind sector, precisely, is of great importance since it still has a reservoir of considerable capacity, “said Matthias Kollatz-Ahnen, Vice-President of the EIB in charge of operations in Germany.
By 2020, Germany intends to increase to 30% minimum share of electricity produced from renewable energy sources. Achieving this goal relies heavily on the development of wind power navy. For the current year, it expects an increase of 300 MW of offshore wind capacity installations.
Offshore wind projects are technical challenges and require long lead times for implementation. As funding needs are they considerable. In addition to funding, the project EnBW Baltic 1 could also benefit from the participation of other donors.