Vattenfall has decided to go ahead with the construction of the 400MW Horns Rev 3 offshore wind farm in Denmark.
The Swedish utility will spend around $1.12bn (€1bn) and the project off Esbjerg will be online in 2018.
Chief executive Magnus Hall said, “Horns Rev 3 gives a clear signal to the world around us that Vattenfall´s strategy is to make new investments in renewable electricity generation and to grow in wind.”
MHI Vestas also confirmed today that it is in line to supply V164-8.0MW turbines at Horns Rev 3. Other contractors are expected to be announced this week.
Horns Rev 3 will supply enough electricity to power 400,000 Danish homes. Vattenfall seek to reduce the construction costs of offshore wind power, thereby also cutting the generation cost of each kWh (kilowatt-hour) produced. This will allow Horns Rev 3 to be built and commissioned in just under three years.
“Horns Rev 3 is the cheapest recent offshore project and the experience we have gained from our other wind projects had a very positive impact. This project underlines our ambition to lead the industry in a highly competitive market environment”, added Gunnar Groebler, Head of Vattenfall Wind.