New Offshore Wind Park to Offer Cheapest Energy in Europe  

2015.03.04

The continued investments in wind energy in Denmark are paying off. The forthcoming offshore wind parks Horns Rev 3 will produce energy at prices lower than any other wind park in Europe.

wind turbine close up

Public tender resulting in low price

Vattenfall Wind Power has won the public tender to build the offshore wind farm Horns Rev 3 outside the Danish west coast. With a total capacity of 400 MW, the wind farm will produce electricity for 450 000 households from 2017. Vattenfall was chosen to build the Horns Rev 3 offshore wind farm after agreeing to a price of 10.31 Eurocent per kWh. This means that Horns rev 3 will be the cheapest offshore wind park in all of Europe.

Cheapest wind farm in Europe

In comparison with previous price assumptions, this means that Danish consumers will experience a saving of approximately 295 million Euros. over the next 11-12 years, which is the period during which the offshore wind farm will be in receipt of subsidies. Thereafter, the Horns Rev 3 facility will produce electricity at the market price and will no longer receive any form of subsidy.

Compared to other wind farms abroad, this represents a very low price. Though a direct comparison is not possible, in the UK – the largest market for wind turbines – the cheapest parks currently being built cost 15.33 Eurocent per kWh in 2015. In addition to this the subsidy period is 15 years instead if the 11-12 years in Denmark.

Approval expected quickly

The successful bid has already been approved by the signatories of the Energy Agreement 2012 and must now be adopted by parliament and signed into law. The government will present the bill on March 18 and the proposal is expected to be adopted during April with the backing of a large political majority in the Danish parliament.

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Peder Bo Sørensen

Peder Bo Sørensen

+45 2170 5851

pedsor@um.dk

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