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Nordsee Two GmbH and Nordsee Three GmbH are special purpose companies owned 49% by Northland Power and 51% by RWE Renewables GmbH (RWE) aiming to develop, construct and operate two offshore wind farms in the German North Sea, Nordsee Two (N2) and Nordsee Three (N3). Both shareholders worked together on the Nordsee One (N1) project, which has been operating since 2017. N2 and N3 combined will have an allowed grid capacity of approximately 800-900 MW which, once combined, will make it the largest German project to be constructed in 2026 (N2) and 2028 (N3), respectively. The projects will be auctioned by the German federal state in 2021 (N2) and 2023 (N3). Nordsee Two GmbH and Nordsee Three GmbH have been allocated step-in rights for their respective project areas, labelled N-3.8 and N-3.5. This means that Northland can step-in based on the lowest bid of any other bidder in the public auctions for these areas and acquire the right to construct and operate the projects. These rights give Northland and RWE an outstanding position in the market as it makes them independent in the auctions. Northland is currently preparing to exercise these step-in rights. |
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Continuing our goal to be a leader in the development and operation of sustainable energy assets in Canada and worldwide
Strategic investment establishes Northland as a leading operator in a high-growth renewables market and delivers near-term cash flow which complements offshore wind growth strategy
Read our 2021 Annual Report
Read our 2021 Sustainability Report