On 12 July 2023, German regulator Bundesnetzagentur announced the results of Germany’s first dynamic offshore wind auction. The successful bidders paid a world record €12.6bn for the rights to build a total of 7 GW worth of sites in the German North and Baltic Seas, far eclipsing previous benchmarks set in the UK and the US and reversing a trend of lower recent valuations and project postponements observed in other countries.
In this webinar, WFW Regulatory Partner Dr Christine Bader and NERA’s Director Dominik Huebler discussed the extent to which the auction rules contributed to the outcomes and what they may mean for the outlook for offshore wind in Germany and beyond, German power prices and auction design questions going forward.
The webinar is intended to help developers, financiers and policymakers prepare for the implications of the results for the next rounds of bidding in Germany and beyond, possible M&A activity and potential areas of disputes. The presenters closed the webinar with a brief look at whether similar record results can be expected in the upcoming auctions across other European countries.
