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Ørsted Commits to Developing the Largest Offshore Wind Farm - ESGNA Ørsted's Hornsea 3: World's Largest Offshore Wind Farm

Ørsted Commits to Developing the Largest Offshore Wind Farm

Energy company Ørsted has committed to constructing the world’s largest offshore wind farm, Hornsea 3, which is projected to be complete by the end of 2027. Boasting a capacity of roughly 2.9 gigawatts (GW), the project builds on the company’s success in operating two other large-scale wind farms—Hornsea 1 and Hornsea 2—in the same region.

The decision to finalize investment in Hornsea 3 reaffirms Ørsted’s strong commitment to the United Kingdom, a country that stands as one of the significant marketplaces for offshore wind. Ørsted is currently operating 12 offshore wind farms in the UK.

In July 2022, Ørsted secured a Contract for Difference (CfD) for Hornsea 3 with an inflation-indexed strike price of GBP 37.35 per MWh at 2012 prices. Moreover, Hornsea 3 holds strategic importance thanks to its robust risk-reward profile and the potential for further synergy with the existing Hornsea projects.

Benefits to the Readers

Hornsea 3 promises to deliver low-cost, environmentally friendly energy to the UK, create thousands of quality jobs, and promote billions in investment within the country’s offshore wind supply chain. Hundreds of companies are engaged to participate in the project’s various phases, including construction, operation, supply, installation, commissioning, and ongoing maintenance.

The completion of Hornsea 3 aims to generate enough affordable, renewable electricity to power an estimated 3.3 million UK households. This can significantly contribute to the UK government’s goal of having 50 GW of offshore wind in operation by 2030 as part of its energy security strategy.

In addition to creating up to 5,000 jobs during the construction phase, Hornsea 3 could support up to 1,200 permanent positions upon its operation, both directly and within the supply chain.

Strategically located 99.4 miles (160 km) off the Yorkshire coast, the completion of Hornsea 3 could propel Ørsted’s Hornsea trio of wind farms to become the world’s largest operating offshore wind zone, boasting a total capacity exceeding 5 GW.

Looking ahead, Hornsea 4 is also in the pipeline, with a potential capacity of up to 2.6 GW. When Hornsea 3 is fully commissioned, Ørsted will divest the transmission assets to a new owner, in line with UK regulations.

This information is based on the original report from ESGNews, obtainable at here.

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