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Amprion wants to win federal government for European offshore network | message

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BERLIN (Dow Jones) – The Dortmund transmission system operator Amprion wants to network wind farms at sea across Europe and is offering the German government a new technology. With the Eurobar (European Offshore Busbar) concept, the electricity can be fed into the European network, explained CEO Hans-Jürgen Brick at an online press conference. Amprion offers the government’s concept “to be used for an offshore strategy as part of the EU Presidency”. The group also wants to build on the hydrogen strategy.

Eurobar is “a completely new approach and above all a partnership,” said Brick. When planning the new generation of platforms in the North Sea, it should be considered when planning that they could later be connected to an offshore network. The connection is initially possible at national level and then between other countries.

According to the company, the residents of the North Sea want to develop around 200 gigawatts offshore by 2050, and the federal government has just decided to expand up to 20 gigawatts by 2030. Brick emphasized that the Europe-wide wind power linkage had to start quickly, because the planning and construction of a plant took an average of ten years. In the long term, the group is aiming for an overall system for onshore and offshore energy.

Amrpion is planning new bonds next year

Amprion CFO Peter Rüth explained that the previous syndicate agreements with banks that secured short and long-term funds were not sufficient to finance the project. For this reason, Eurobar is scheduled for “mid to late next year”. To this end, the group will not only interpret its figures according to German commercial law, but also according to the usual international business guidelines.

CEO Brick added that the general economic conditions in the energy sector in Germany should not fall below the European average. “This trend must in no case continue that the interest rate goes into free fall.” If the general conditions are right, the company can “operate without state money,” said Brick.

Contact the author: petra.sorge@wsj.com

DJG / pso / cbr

(END) Dow Jones Newswires

June 24, 2020 07:08 ET (11:08 GMT)



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