Gode Wind 1 (“GOW1 ”) is a 330MW offshore wind farm project in the German North Sea, with full commissioning expected in the fourth quarter of 2016. GIP has entered into a 50/50 partnership with DONG Energy (“DONG”) to build and operate the project. DONG is constructing GOW1 under an EPC contract and will provide the operation and maintenance of GOW1 under a 20-year contract. GOW1 is being installed with 55 new direct-drive technology Siemens 6MW turbines. It will benefit from a fixed revenue stream through a German Government-backed feed-in-tariff until 2026.
DONG Energy is the world leader in offshore wind power with over two decades of wind power engineering, procurement and construction experience. DONG Energy constructed the world’s first offshore wind farm in 1991, the world’s first commercial offshore wind farm project in 2001 and the world’s largest offshore wind farm to date. DONG Energy has a 35% market share of global installed capacity and approximately 4.4GW of capacity in operation or under construction.
GIP acquired a 50% interest in Gode Wind 1 from DONG Energy in September 2015.View Next Investment