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 US and reversing a trend of lower recent valuations and project postponements observed in other countries.
In this webinar, WFW Hamburg Regulatory Partner Dr Christine Bader and NERA’s Director Dominik Huebler discuss the extent to which the auction’s rules contributed to this outcome and what it may mean for offshore wind in Germany and beyond, German power prices and auction design questions going forward. This will help developers, financiers and policymakers prepare for the next round of bidding in Germany, possible M&A activity and potential areas of dispute. The presenters close with a brief look at whether similar record results can be expected in upcoming auctions in other European countries.
