Copenhagen Infrastructure Partners (CIP) and Allianz Investment Management (AIM) are to conduct a joint feasibility study for an artificial energy island in the German North Sea.
The island is intended to be connected to large-scale offshore wind farms to cost-effectively deliver renewable energy to the German market.
The study is a response to announcements made by the German government concerning an accelerated green transition, and the declaration from the 18 May summit between Germany, Denmark, Belgium and the Netherlands setting the course for regional cooperation aimed at exploiting the enormous potential of the renewables in the North Sea.
CIP and AIM said Germany has some of the best natural conditions in the world for offshore wind with a combination of high wind speeds and relatively low water depths.
This creates attractive conditions for building large-scale offshore wind farms and artificial islands.
The energy islands will allow to collect and utilise energy resources located in areas in the North Sea that are otherwise more difficult and more costly to access.
Energy islands create an onshore environment at an offshore location which makes it possible to build cost-effectively electrical infrastructure and produce green hydrogen offshore – renewable energy that can be transported to demand centres in a cost optimised way.
If targets set for the green energy transition are to be achieved, the concept of energy islands is one of the most effective ways to ensure speed, volume and the production of renewables on a large-scale that can be integrated into existing energy grids, CIP and AIM said.
Energy islands and wind turbine marine structures will furthermore provide a contribution to biodiversity in the North Sea as these structures create artificial reefs offering shelter for multiple species.
CIP and AIM are eager to involve further German stakeholders into the potential development of the energy island and the connected offshore wind.