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Germany awards second round of offshore wind: one more step towards transition
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Report summary
On 27 April, Germany’s energy regulator awarded 1.6 GW of offshore wind capacity in the country’s second and final round of WindSeeG auctions. Despite two of the six successful projects submitting zero-price bids, the average accepted price in the round outturned at 46.6€/MWh. This outcome is over ten times higher than the first WindSeeG auction – but the result should not be taken as an indicator that offshore wind is failing to live up to its cost reduction potential. While the cost trend of offshore wind has been impressive in Europe, Germany's latest awards serve to demonstrate that tender design and project-specific factors have a fundamental influence on prices. To achieve its long term decarbonisation targets, Germany will need to maximise the benefits of new centralised tendering arrangements.
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