29 Apr '17, 11am

In Germany #OffshoreWind offers subsidy-free power for first time

German’s electricity grid regulator approved bids to build what will be the first offshore wind farms that depend entirely on market prices instead of government support and subsidy. The decision by Bundesnetzagentur, or BNetzA, grants power purchase agreements for 1,490 MW of wind farms to be built in the North Sea. Developers promised to supply power from the facilities at a record-low weighted average of 4.40 euros ($4.67) a megawatt-hour, less than a tenth of the previous offshore wind deal, the regulator said Thursday. The bids were “far below any expectations,” said BNetzA President Jochen Homann. They’re well beneath the market price for power in Germany, which has fallen 3.8 percent this year to 30.10 euros a megawatt-hour, according to broker data compiled by Bloomberg. Developers led by Energie Baden-Wuerttemberg AG and Dong Energy A/S are betting they can sell t...

Full article: http://www.renewableenergyworld.com/articles/2017/04/offs...

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