Vattenfall and Parkwind have entered into a cooperation agreement under which Vattenfall will be a ‘direct marketer’ of the Arcadis Ost 1 offshore wind farm, meaning the company will take on selling the electricity generated by the wind farm through Power Purchase Agreement(s) (PPAs).
According to Vattenfall, direct marketing is the PPA variant specific for Germany where operators of newly installed renewable generation are obliged to sell the electricity they produce directly on the market. Most operators choose not to sell the electricity on their own and opt to hand over this task to a specialist company to act as a ‘direct marketer’.
The Belgian offshore wind developer reached financial close on the Arcadis Ost 1 offshore wind farm – its first project in Germany – in June, officially moving the project into construction phase.
The 257 MW offshore wind farm, located northeast of the island of Rügen in the German sector of the Baltic Sea, will comprise 27 Vestas 9.5 MW offshore wind turbines.
Offshore construction is planned to begin in the second quarter of 2022, with first electricity expected to be fed into the German transmission grid at the end of 2022 and full commissioning scheduled for 2023.