Van Oord and Highland Group in Deutsche Bucht OWF Deal
- Business & Finance
Van Oord and Highland Group Holdings have signed a cooperation agreement for the development, financing and construction of the offshore wind farm Deutsche Bucht in Germany.
Van Oord will execute the engineering, procurement and construction of the foundations, inter array cables and the offshore substation.
Van Oord and Highland Group intend to participate in the equity for the offshore wind farm. Financial close is scheduled for the first half of 2017, with the offshore installation envisaged to start in the second half of 2018. The wind farm should be commissioned in 2019.
The Deutsche Bucht offshore wind farm is located in the German Bight, approximately 90 km from shore and will have a rated power of 252 MW.