General – CPPA
Ørsted has signed a 12-year corporate power purchase agreement (CPPA) with Google.
Google will offtake 50 MW of Ørsted’s planned 900 MW Borkum Riffgrund 3 Offshore Wind Farm in the German North Sea.
Borkum Riffgrund 3 was the world’s first large-scale offshore wind farm to be awarded a zero bid and is expected to go into full commercial operation in 2025.
As the project was awarded without government subsidies, the CPPA with Google will contribute to providing revenue certainty for Ørsted and help mature Borkum Riffgrund 3 towards a final investment decision, which is expected by the end of 2021.
The CPPA with Ørsted will contribute to Google’s commitment to operating all their data centres, cloud regions, and campuses on 24/7 carbon-free energy by 2030.
Rasmus Errboe, Head of Region Continental Europe at Ørsted, said: “We commend Google for their leading role in fighting climate change by investing in additional renewable energy, and we’re proud to contribute to their ambitious climate targets. Ørsted is continuously proving that we can support corporations across sectors and technologies with clean energy solutions. This CPPA demonstrates that offshore wind plays a critical role in enabling a 24/7 carbon-free energy solution in Europe.”