Vattenfall has won a tender to build the Danish Kriegers Flak wind power project on the Baltic coast.
The Swedish state utility won the 600 MW wind power tender with a bid of €49.9/MWh and said it would invest between $1.19bn and $1.4bn in the project, subject to a final investment decision.
The low cost investment reinforces the steep reductions in offshore wind costs the industry has delivered in recent years. Up until recently projects regularly cost around £100/MWh ($123/MWh), before the industry integrated ways of innovating the costs downwards.
Magnus Hall, CEO of Vattenfall said,”The announcement is an essential milestone for our ambition to increase our production of renewable power. We are already the second largest offshore player globally.
The winning bid of €49.9 per MWh proves that Vattenfall is highly competitive and brings down the costs for renewable energy.”
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