OWP Butendiek has secured a second long-term PPA for its 288MW Butendiek offshore wind project (pictured) in the German North Sea.
Under the new agreement, BKW Energie, a leading Swiss energy utility, will purchase 18% of the wind farm’s total production, equivalent to over 200GWh annually, over the long-term.
The agreement, facilitated by market intelligence, software and advisory business Pexapark, marks the second PPA secured by Butendiek in recent months.
The first PPA is with an unnamed multinational offtaker in October 2023 to supply green hydrogen production.
Together, the two agreements, which commence in July 2024, account for 80.5% of Butendiek’s total production capacity, with the remaining portion of capacity continuing to trade on the merchant market, benefitting of the German EEG scheme.
Björn Nullmeyer, managing director at WPD and Butendiek’s director, said: “We’re pleased to confirm this second PPA for Butendiek, locking down a secure long-term revenue stream for the project.
“These deals demonstrate how offshore wind power, a vital component of Europe’s green energy transition, can sustain its success beyond tariff periods.”
Amanda Niklaus, head of renewables PPA origination at BKW Energie, added: “We are delighted to have secured this PPA with OWP Butendiek, which gives us access to a large and dependable source of renewable energy.
“This PPA allows us to grow our renewable energy portfolio and provide our customers with clean electricity.”