LILIENTHAL, GERMANY - 288MW German offshore wind farm benefits from a FiT until December 2023

Greencoat Renewables has announced that they have reached an agreement to acquire a stake in the 288MW Butendiek offshore wind farm, off the coast of Germany.

The wind farm is located in Germany's exclusive economic zone in the North Sea and consists of 80 Siemens Gamesa 3.6MW turbines that have been operational since 2015.

According to the company, Butendiek benefits from a fixed-price FiT until December 2023. After this period, the project benefits from a floor price for the electricity sold until December 2035, providing the opportunity for exposure to the emerging European corporate PPA market.

"We are pleased to make this acquisition which consolidates Greencoat Renewables' market position in the German offshore wind sector." Said Bertrand Gautier, Investment Manager.This acquisition will also contribute to the diversification of Greencoat Renewables' European portfolio whilst bringing further strong contracted cash flows. We believe the sector will continue to offer attractive investment opportunities in the near future." 

Source: ReNEWS.BIZ