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Insights and News /

05 April 2022

Baringa congratulates Ørsted on selling a 50% stake in Germany’s largest windfarm

Simon Tywuschik

Simon Tywuschik
Director | Energy, utilities and resources | Düsseldorf

Manuel Eising

Manuel Eising
Senior Consultant | Energy and resources | Düsseldorf

We are delighted that Ørsted and Glennmont partners have completed a transaction which makes Glennmont Partners a 50% owner in the Borkum Riffgrund 3 offshore wind farm.

With a total capacity of 900 MW and 83 turbines, Borkum Riffgrund 3 is set to become one of the largest offshore windfarms in German waters. Ørsted has also signed a number of long-term power purchase agreements (PPAs) for Borkum Riffgrund 3, including a 25-year PPA with BASF which is one of the longest fixed price PPAs for offshore wind globally. 

We are proud to have supported Ørsted in this milestone project. Baringa’s role on supporting the sale has included:

  • Revenue projections for the German offshore wind power (i.e., site-specific capture prices, negative price risk analysis, ancillary services and guarantees of origin revenues, imbalance costs projections)
  • Provision of a detailed sell-side transaction report
  • Provision of continued Q&A support for the buy-side

Dr. Simon Tywuschik, one of the leading power market experts for Continental Europe at Baringa said: “It is truly fascinating and encouraging to witness how both the up- and downstream sector are jointly driving and promoting the energy transition in the offshore space. We are proud to have assisted Ørsted on this exemplary project and envisage this will see many more like this during this crucial decade of climate action.”

To learn more about our transaction advisory work in Continental Europe, please get in touch with Simon Tywuschik and Manuel Eising.

 

About Baringa

We set out to build the world’s most trusted consulting firm – creating lasting impact for clients and pioneering a positive, people-first way of working. We work with everyone from FTSE 100 names to bright new start-ups, in every sector.

You’ll find us collaborating shoulder-to-shoulder with our clients, from the big picture right down to the detail: helping them define their strategy, deliver complex change, spot the right commercial opportunities, manage risk or bring their purpose and sustainability goals to life. Our clients love how we get to know what makes their businesses tick – slotting seamlessly into their teams and being proudly geeky about solving their challenges.

We have hubs in Europe, the US, Asia and Australia, and we work all around the world – from a wind farm in Wyoming to a boardroom in Berlin. Find us wherever there’s a challenge to be tackled and an impact to be made.