Ørsted views zero-subsidy bid as a lottery ticket

Monday night, Vattenfall won the rights to install two Dutch offshore wind projects, and the business model for these projects seems to indicate that the firm is stumbling in the dark, says Ørsted's Wind Power CEO.

Photo: Windpark Noordostpolder

Vattenfall likely made history Monday night this week in terms of the price plunge in offshore wind.

Via subsidiary Chinook, the energy company won the license to install and operate the projects Hollandse Kust Zuid 1 & 2 of 700 MW in a zero-subsidy bid. This not only marks the Swedish company's foray into the Dutch sector, but it also means that firm will be the first in the world to set offshore wind turbines spinning without any support from direct state subsidies.

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