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Reported by Energiekontor on 18 May 2018

Energiekontor realises Withernwick II – the first wind project without state subsidies in the UK

Milestone in the history of the Bremen-based wind energy pioneer

(Courtesy of Energiekontor AG)

After signing a long-term power purchase agreement (PPA) with a global company in the consumer goods industry, Energiekontor has achieved the financial close for the English wind farm project, Withernwick II. The economic viability of this project is based solely on the conclusion of this PPA. As far as the Company is aware, Withernwick II is thus the first wind farm project in the UK to be realised without state subsidies.

Withernwick II is an extension of the Withernwick I wind farm that has been part of Energiekontor AG’s portfolio of Group-owned wind farms for several years. The Withernwick II project was approved at the end of 2016 and is located close to the East coast of the English county of Yorkshire. Four wind turbines, each with rated power of 2.05 MW, are to be commissioned by the first quarter of 2019.

Peter Szabo, CEO of Energiekontor AG, comments: “We congratulate our team in the UK on this outstanding success. We are happy that our extensive experience in the UK and the trust that this has borne have again convinced a large industrial partner to sign a PPA. The financial close for the Withernwick II project shows that our efficiency measures to reduce costs are indeed bearing fruit and that we are already able to implement a wind farm profitably at pure market conditions. The project therefore represents a milestone in Energiekontor’s history as it is, as far as we know, the first onshore wind project in the UK to manage without subsidies. This also underlines our pioneering role in the quest to realise wind farms and solar parks with a lower levelized cost of electricity than electricity from fossil and nuclear resources. It is our most important contribution to our vision of a society whose electricity needs are fully covered by renewable energy.”

References

[1]

Energiekontor AG. Press release - Energiekontor realises Withernwick II – the first wind project without state subsidies in the UK. URL: https://www.energiekontor.de/en/news/2018-05-18-energiekontor-realises-withernwi.... [Date Accessed: 01/10/2018].

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