In February 2015, Vattenfall won the concession to build Horns Rev 3 with a historically low bid of 0,77 Danish DKK per kWh. Vattenfall’s Board today formally approved the overall plan for building the wind farm 25-30 km off the west coast of Jutland in Denmark, which will supply its first electricity in 2018. The project will create 7,000 jobs according to estimates by the Danish Ministry of Finance.
“Horns Rev 3 is an important part of Vattenfall’s ambitions in the wind power sector and particularly as regards offshore wind farms. Horns Rev 3 consequently gives a clear signal to the world that Vattenfall’s strategy is to make new investments in renewable energy and to grow further in wind. Vattenfall supports the transition to renewable energy and we accept the challenge, in spite of current low electricity prices and excess capacity,” says Vattenfall’s CEO Magnus Hall.
Horns Rev 3 will comprise 49 8 MW MHI Vestas offshore turbines. Each of them, which are among the largest and most technologically advanced on the market, can supply almost 200,000 kWh of electricity every 24 hours. Horns Rev 3 will be able to supply renewable energy to 400,000 Danish homes.
Big ambitions in wind power
Vattenfall’s ambition is to reduce the construction costs of offshore wind power and thus also to cut production costs per generated kWh. This means that Horn Rev 3 can be built and commissioned within less than three years.
“Horns Rev 3 is a real milestone for us; it clearly shows that competition is a suitable way to significantly reduce costs for offshore wind. Horns Rev 3 is the cheapest recent offshore project and the experience we have gained from our other wind projects had a very positive impact. This project underlines our ambition to lead the industry in a highly competitive market environment,” says Gunnar Groebler, Head of Vattenfall Wind.
One of the leaders
Vattenfall is currently among the leading operators of offshore wind farms in the world and one of the biggest players in Denmark in onshore wind. In total, Vattenfall owns around 2,200 MW of wind power, 1,300 MW of which is offshore, in more than 1,000 wind turbines.
With Horns Rev 3 and other wind projects, Vattenfall expects to double its installed wind power capacity – onshore and offshore – by the end of 2020.