Danish renewable energy giant Ørsted has signed a ten-year corporate power purchase agreement (CPPA) with Amazon which will see the tech company take output from Ørsted’s planned 900MW Borkum Riffgrund 3 offshore wind farm in Germany.
The deal is Amazon’s first offshore wind corporate power purchase agreement, and Europe’s largest to date. It will contribute to Amazon’s target of being 100% renewable by 2030 and net carbon zero by 2040.
Rasmus Errboe, senior VP and head of region continental europe at Ørsted Offshore, commented: “We applaud Amazon’s leadership in corporate renewable energy investments which helps drive the green energy transformation forward. This agreement shows that Ørsted is well placed to help corporations with green ambitions act on the global climate challenge. The CPPA with Amazon on Borkum Riffgrund 3 will drive this breakthrough zero-subsidy project a step closer towards realization, where it will supply large amounts of clean electricity for Germany’s green transition. Germany remains an attractive market for Ørsted with its recent decision to have 40GW of installed offshore wind capacity by 2040.”
Borkum Riffgrund 3 is expected to become operational in 2025, with Ørsted’s final investment decision expected by the end of 2021.