Gode Wind 1 and 2
Located 45 km from the mainland and around 33 km from the islands Juist and Norderney. Investment EUR 2.2bn.
Status
Operationallifecycle stage
Ownership
Ørsted — 50% ◆GPGlennmont Partners — 14.18% ◆
PKA — 10.72% ◆
Equitix — 8.62% ◆
The Renewables Infrastructure Group — 5.56% ◆IPIndustriens Pension — 4.55% ◆
LPLaerernes Pension — 3.79% ◆
LPLaegernes Pensionskasse — 2.58% ◆
Location
GermanyNorth Sea
Technology
Capacity
582 MW ◆
Turbines
97 × 6 MW ◆
Model
Siemens Swt 6-0-154 ◆
Foundation
Monopile ◆
Site & conditions
Site rights
Seabed rights held ∴
Origination
Plambeck Neue Energien AG · 2006 ◆
Water depth
26–34 m ◆
Distance from shore
45 km ◆
Wind speed
9.9 m/s @ 100 m ≈
Revenue & grid
Offtake
Premium ◆
Grid
Secured · 2017 ◇
Connection
TenneT DolWin2 HVDC (±320kV, 135km cable to Dörpen West … ◇
Schedule
FID
Nov 2013 ◆
COD
2016 ◆
Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record
Origination · 2006-08
Party of record at origination
- Awarded to
- Plambeck Neue Energien AG
- Holder
- Plambeck Neue Energien AG
- Basis
- permit / concession holder
BSH Genehmigungsbescheid Gode Wind (I), 28 Aug 2006 — 'Auf den Antrag der Firma Plambeck Neue Energien AG … werden Errichtung und Betrieb von 80 Windenergieanlagen … genehmigt.' PNE (as Plambeck was renamed) sold the Gode Wind projects to DONG Energy in 2012 — that transfer is not yet a recorded deal.
From the auction results — the round that created the project.
Acquisition · 2012-08
PNE Wind AG → Ørsted 100%
- Stake
- 100%
- Consideration
- €57.0m
- No multiple
- The EUR 57m was the upfront payment for three development projects (Gode Wind 1, 2 and 3) with deferred milestone payments on top.
- Announced
- 2012-08
- Project stage
- early development
DONG Energy (now Ørsted) "has acquired 100% ownership interest in three offshore wind development projects in Germany, Gode Wind 1, 2, and 3, from PNE Wind AG" (company announcement, Aug 2012). Written 2026-08-19 to close the origination -> Ørsted gap.
Evidence
- DONG Energy (now Ørsted) — DONG Energy acquires three German offshore wind development projects ↗ 2012-08 ◆ held
From Hafrok’s transactions record
Farmdown · 2014-07
Ørsted → PKA / Industriens Pension / Laerernes Pension / Laegernes Pensionskasse 50%
- Stake
- 50%
- Consideration
- not disclosed
- Announced
- 2014-07
- Closed
- 2014
- Project stage
- pre-FID
Ørsted sold 50% of Gode Wind 2 (252 MW) to consortium of four Danish pension funds: PKA (24.75%), Industriens Pension (10.5%), Laerernes Pension (8.75%), Laegernes Pensionskasse (6%). Total DKK 4.5bn (~EUR 605m at ~7.46 DKK/EUR), payable 2014-2016. Project was pre-FID at signing. Covers GW2 only (252 MW of 582 MW combined project key).
Evidence
From Hafrok’s transactions record
Farmdown · 2015-09
Ørsted → GIP 50%
- Stake
- 50%
- Consideration
- not disclosed
- Announced
- 2015-09
- Closed
- 2015-12
- Project stage
- under construction
Ørsted sold 50% of Gode Wind 1 (330 MW) to GIP for EUR 780m (DKK 5.8bn). GIP partially financed via the first non-recourse investment-grade green bond for an offshore wind construction asset, with Talanx as cornerstone lender. Covers GW1 only (330 MW of 582 MW combined project key). EUR 780m for 50% of 330 MW UC is consistent with Ørsted capex-inclusive farmdown pattern (EUR 4.7M/MW implied on GW1 alone, well above UC range).
Evidence
From Hafrok’s transactions record
Secondary trade · 2019-06-03
GIP → TRIG 25%
- Stake
- 25%
- Consideration
- not disclosed
- Announced
- 2019-06-03
- Project stage
- operational
TRIG agreed to buy a 25% indirect stake in Gode Wind 1 (330 MW) from GIP, announced 3 June 2019, as the first half of GIP's sale of its 50% stake; the other 25% went to Glennmont Partners the next month. Consideration undisclosed.
Evidence
- InfraRed Capital Partners (TRIG announcement) — TRIG - acquisition of an interest in Gode Wind 1 offshore wind farm ↗ 2019-06-03 ◆ held
From Hafrok’s transactions record
Secondary trade · 2019-07
GIP → Glennmont Partners (Nuveen) 25%
- Stake
- 25%
- Consideration
- not disclosed
- Announced
- 2019-07
- Closed
- 2019-10
- Project stage
- operational
GIP sold the second half of its 50% stake in Gode Wind 1 (330 MW): 25% to Glennmont Partners, announced 1 July 2019. The other 25% went to TRIG in a separately announced sale on 3 June 2019. Consideration undisclosed.
Evidence
From Hafrok’s transactions record
Secondary trade · 2024-08
TRIG → Equitix 15.2%
- Stake
- 15.2%
- Consideration
- €100m
- No multiple
- The stake was held through a holding company with its own bond financing, and no one disclosed that debt, so the price is for equity after it and no comparable figure is shown.
- Announced
- 2024-08
- Closed
- 2025-03
- Project stage
- operational
TRIG sold 15.2% interest in Gode Wind 1 (330 MW) to Equitix for EUR 100m, representing 9% premium to TRIG's 31 Dec 2023 book valuation. Post-sale TRIG retains ~9.8%, with Ørsted 50% and Glennmont 25%. Announced Aug 2024, completed March 2025. Covers GW1 only (330 MW of 582 MW combined project key). Implied values nulled: project value (EUR 658m on 15.2% = GW1 only) and per-MW cannot be calculated on the combined 582 MW key. On GW1's 330 MW basis: implied EUR 1,994,000/MW (within operational range).
Evidence
- renewablesnow.com — TRIG sells stake in 330-MW German offshore wind farm to Equitix - Offshore Wind News ↗ 2024-08 ◆ held
- The Renewables Infrastructure Group (RNS) — TRIG: Completion of German Offshore wind sell down ↗ ◆ held
- InfraRed Capital Partners (TRIG announcement) — TRIG - acquisition of an interest in Gode Wind 1 offshore wind farm ↗ 2019-06-03 ◆ held
- Scope Ratings — Scope Ratings - Gode Wind 1 Investor Holding GmbH rating report (Mar 2024) ↗ 2024-03-20 ◆ held
- Scope Ratings — Scope Ratings - Gode Wind 1 Investor Holding GmbH rating report (Mar 2025) ↗ 2025-03-10 ◆ held
From Hafrok’s transactions record
Dashed tick marks today (13 Oct 2026). The teal diamond on the spine is origination — the seabed award or round that created the project. Every other ownership event lives in the band below: one station per recorded deal, dated at its label, in deal order rather than to calendar scale. Secondary trades appear only at the interchanges; grey lines are parties whose entry or exit Hafrok’s record does not hold.
Revenue & offtake the regime the project was built under
Offtake regime on record
RegimeBoth farm companies' accounts state that all output is sold by direct marketing under the EEG to claim the market premium (§ 33g EEG in the FY2018 accounts of Gode Wind 1 and Gode Wind 2), with feed-in through DolWin2 from spring 2016. The FY2024 accounts put the fall in revenue down to a lower EEG payment under the market-premium model and expect a further reduction under the compressed tariff (Stauchungsmodell) in 2025.
Instrumentmarket premium
A built project sells its power under the contract or support regime it was financed with; it is not expected to bid into new government offtake rounds. Where the record does not yet name that regime, the row says so rather than guessing.
Installation how the build is going · from sourced statements and Hafrok’s registers
Installation complete
Installation · on record
StageOperational
In operation since2016
Offshore construction2015-04 → 2016
Construction ports
PortEsbjerg ◆·turbine staging · quay 10000 m · crane 300 t · draft 15 m
PortNorddeich ◆om base
Grid connection
from Hafrok’s substation, converter and cable registers
Offshore platforms · 2
Offshore substationGode Wind 1 and 2 substation platforms (Umspannplattform)·155/33 kV · in service 2015 · owner Ørsted (wind farm owner; platforms are farm-owned, not TSO-owned)
HVDC systemDolWin2·916 MW · ±320 kV · in service 2017-06 · shared with Nordsee One
Converter supplierHitachi Energy (contracted as ABB; ABB Power Grids sold to Hitachi 2020)·DolWin2 · Drydocks World – Dubai (construction); Aibel design and project management, outfitting/commissioning at Haugesund, Norway · for TenneT
Grid connection · ready in time?
when each part of the grid connection is due, against the start date the developer states (black line) · a bar spans the whole year, quarter or month the source gives
installed or in serviceexpected deliveryearlier date that was later moved
Sources & verification
Rests on 15 sources (18 primary) · ◆ 10 documents held
◆Verified≈Modelled◇Sourced∴Inferred⌁Convention○Unverified∅No source·Derived
Numbers are stable citation ids — grouped by source class, so they are not consecutive.
Regulator3
[1]
Bundesamt für Seeschifffahrt und Hydrographie (BSH)2006-08◆ Genehmigungsbescheid Offshore-Windpark G…
“Hamburg, den 28. August 2006 Genehmigungsbescheid Auf den Antrag der Firma Plambeck Neue Energien AG, vertreten durch den Vorstand, [...] Die Koordinaten der eckwärtigen Windenergieanlagen (geographis…”
supportsCoordinates
[2]
Bundesamt für Seeschifffahrt und Hydrographie (BSH)2009-07◆ Genehmigungsbescheid Offshore-Windpark G…
“Hamburg, den 27.07.2009 Genehmigungsbescheid Auf den Antrag der Firma PNE Gode Wind II GmbH [...] 26603 Aurich, genehmigt: 1 Gegenstand dieser Genehmigung sind 80 (achtzig) [...] Die Eckkoordinaten (g…”
supportsConsentWater depthCoordinatesConsent granted
[13]
Bundesnetzagentur — Marktstammdatenregister2026-08-23◆ Marktstammdatenregister (MaStR) offshore…
“Park row "Gode Wind 1": 55 units, 344.52 MW gross, statuses {'In Betrieb': 55}, operators ['Gode Wind 1 Offshore Wind Farm GmbH ＆ Co. oHG'], commissioned 2016-05-28..2016-08-12, planned None..None. Pa…”
supportsFirst powerCommercial operation
Operator7
[3]
Ørsted A/S2013-11-18◆ DONG Energy to build Gode Wind 1 and 2 o…
“DONG Energy has decided to build the offshore wind farms Gode Wind 1 and 2 in the German part of the North Sea. The construction will represent a total investment of approximately EUR 2.2 billion [...…”
supportsFinal investment decisionTurbinesModelUnit capacityTotal capacity+2 more
[6]
Ørsted A/S2015-04-15◆ First foundation successfully installed
“97 Siemens 6MW wind turbines 582MW in total [...] On 14 April, 2015, the most visible realisation of a project started. The first foundation was successfully installed at the Gode Wind Offshore Wind F…”
supportsOffshore constructionSite rightsTurbinesTotal capacityFoundation+1 more
[8]
Ørsted A/S2017-06-26◆ DONG Energy inaugurates its Gode Wind 1 …
"2017-06-26 … With 97 wind turbines and a total capacity of 582 megawatts … DONG Energy owns 50 per cent of both Gode Wind 1 and 2. In addition, the infrastructure fund Global Infrastructure Partners …
supportsTurbinesTotal capacityDistance from shore
[14]
Unternehmensregister2026-02-04◆ Gode Wind 1 Offshore Wind Farm GmbH & Co…
“Gode Wind 1 Offshore Wind Farm GmbH & Co. oHG (im Folgenden auch "Gesellschaft" genannt) ist zum Bilanzstichtag 31. Dezember 2024 eine offene Handelsgesellschaft im Sinne des § 264a HGB und unter der …”
supportsCommercial operationMechanismDetail
[15]
Unternehmensregister2026-02-04◆ Gode Wind 2 Offshore Wind Farm P/S GmbH …
“Gode Wind 2 Offshore Wind Farm P/S GmbH & Co. oHG (im Folgenden auch "Gesellschaft" genannt) ist zum Bilanzstichtag 31. Dezember 2024 eine offene Handelsgesellschaft im Sinne des § 264a HGB und unter …”
supportsCommercial operation
[16]
Unternehmensregister2020-03-23◆ Gode Wind 1 Offshore Wind Farm GmbH & Co…
“Die Gode Wind 1 Offshore Wind Farm GmbH & Co. oHG (im Folgenden auch "Gesellschaft" genannt) ist zum Bilanzstichtag 31. Dezember 2018 eine offene Handelsgesellschaft im Sinne des § 264a und ist unter …”
supportsFirst powerMechanismDetail
[20]
Unternehmensregister2020-03-23◆ Gode Wind 2 Offshore Wind Farm P/S GmbH …
“Die Gode Wind 2 Offshore Wind Farm P/S GmbH & Co. oHG, (im Folgenden auch "Gesellschaft" genannt) ist zum Bilanzstichtag 31. Dezember 2018 eine offene Handelsgesellschaft im Sinne des § 264a HGB und u…”
supportsFirst powerMechanismDetail
Trade press4
[7]
[10]
[11]
offshoreWIND.biz2024-08
Press report — cited, not quoted; read it at the source link.
supportsoperatorownerfinancial_investor
[12]
Encyclopaedic1