STOCKHOLM — Swedish utility Vattenfall AB Friday announced plans to build an offshore wind farm in the North Sea after it recently bought the license for the new farm from German company Sandbank Power GmbH & Co.
The wind farm will be located off the German island Sylt in the North Sea and has the potential to provide more than half a million German households with electricity, the Swedish state-owned energy company said.
The project, called Sandbank 24, is part of Vattenfall’s ambition to invest SEK26 billion in wind power between 2011 and 2015 and follows Germany’s decision to phase out nuclear power over the next decade.
“With Sandbank 24 Vattenfall is actively supporting the ongoing energy turnaround in Germany,” Anders Dahl, head of Vattenfall’s renewables unit said in a statement.
The wind farm is initially for 576 megawatt from 96 large wind turbines, but can be expanded further as the deal includes the opportunity to expand the project with 40 turbines.
Construction is planned to start in 2014.
-By Katarina Gustafsson, Dow Jones Newswires