The Danish Energy Agency (DEA) has awarded German energy group RWE AG the concession to develop the Thor offshore wind farm project that would have up to 1 GW generating capacity.
DEA has selected RWE AG by lottery since more than one bidder offered to build the project at its highest permissible capacity of 1 GW and at a minimum price of DKK 0.01 (US$0.0015) per kWh.
The total investment for the wind farm is expected to reach around DKK15.5 billion (US$2.54 billion). DEA is expected to sign the concession deal with RWE before the end of 2021 at the earliest date. Once operational, the project will operate under the contract-for-difference (CfD) model. RWE will no longer pay the Danish government once the concession period expires and will then operate on commercial terms by then.
