Vattenfall to acquire giant ‘Atlantis’ wind farm in the German North Sea
Swedish wind energy specialist Vattenfall is set to buy a massive wind farm off the German coast for an amount thought to be near €100 million.
The company has signed an agreement to acquire the project company “PNE WIND Atlantis I GmbH“ from PNE WIND AG. The sale and purchase agreement is still subject to various closing conditions, Vattenfall says.
PNE WIND Atlantis I GmbH is the owner of the offshore wind project “Atlantis I” which is located in the German North Sea 84 kilometers north-west off the island of Borkum and the project site allows a potential for up to 73 wind turbines of multi megawatt class. PNE WIND AG will remain involved in the further development of project Atlantis I as a long-term service provider, contributing its expertise and knowledge about Atlantis I.
Gunnar Groebler, Senior Vice President and Head of Business Area Wind at Vattenfall commented: “The acquisition of Atlantis I is a very good start for us into the new year and I am really delighted. After our successful participation in the tender rounds in Denmark last year where we could reinforce our offshore wind portfolio with another 950 MW, we are now well on track in the German market as well. In this context we explicitly welcome the change towards the auction system under the new EEG regime also in Germany. We can now apply our know-how in terms of cost reduction for offshore wind in this country as well – for the benefit of the electricity customers and thus for the further acceptance of this effective way to produce green energy.”
Wind at Vattenfall
Vattenfall is a leading European energy company and operates over 1,100 wind turbines with a total installed capacity of 2,200 megawatts (MW). In 2015, Vattenfall produced more than six billion KWh (6 TWh) of wind energy. In terms of pure figures, this amount of electricity is enough to cover the annual energy needs of around 1.5 million average German households.
By 2020, Vattenfall will double its wind capacity on land and at sea with an annual expansion volume between 400 and 600 MW. The company is investing €5.5 billion euros to ensure this.
Trafigura and Yara International explore clean ammonia usage
Reducing shipping emissions is a vital component of the fight against global climate change, yet Greenhouse Gas emissions from the global maritime sector are increasing - and at odds with the IMO's strategy to cut absolute emissions by at least 50% by 2050.
How more than 70,000 ships can decrease their reliance on carbon-based sources is one of transport's most pressing decarbonisation challenges.
Yara and Trafigura intend to collaborate on initiatives that will establish themselves in the clean ammonia value chain. Under the MoU announced today, Trafigura and Yara intend to work together in the following areas:
- The supply of clean ammonia by Yara to Trafigura Group companies
- Exploration of joint R&D initiatives for clean ammonia application as a marine fuel
- Development of new clean ammonia assets including marine fuel infrastructure and market opportunities
Magnus Krogh Ankarstrand, President of Yara Clean Ammonia, said the agreement is a good example of cross-industry collaboration to develop and promote zero-emission fuel in the form of clean ammonia for the shipping industry. "Building clean ammonia value chains is critical to facilitate the transition to zero emission fuels by enabling the hydrogen economy – not least within trade and distribution where both Yara and Trafigura have leading capabilities. Demand and supply of clean ammonia need to be developed in tandem," he said.
There is a growing consensus that hydrogen-based fuels will ultimately be the shipping fuels of the future, but clear and comprehensive regulation is essential, according to Jose Maria Larocca, Executive Director and Co-Head of Oil Trading for Trafigura.
Ammonia has a number of properties that require "further investigation," according to Wartsila. "It ignites and burns poorly compared to other fuels and is toxic and corrosive, making safe handling and storage important. Burning ammonia could also lead to higher NOx emissions unless controlled either by aftertreatment or by optimising the combustion process," it notes.
Trafigura has co-sponsored the R&D of MAN Energy Solutions’ ammonia-fuelled engine for maritime vessels, has performed in-depth studies of transport fuels with reduced greenhouse gas emissions, and has published a white paper on the need for a global carbon levy for shipping fuels to be introduced by International Maritime Organization.
Oslo-based Yara produces roughly 8.5 million tonnes of ammonia annually and employs a fleet of 11 ammonia carriers, including 5 fully owned ships, and owns 18 marine ammonia terminals with 580 kt of storage capacity – enabling it to produce and deliver ammonia across the globe.
It recently established a new clean ammonia unit to capture growth opportunities in emission-free fuel for shipping and power, carbon-free fertilizer and ammonia for industrial applications.