Risk and economy
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The wind farm is being constructed on market terms.
But since the project involves a range of technical and financial risk factors,
the power produced at the offshore wind farm will be sold on special terms.
Power delivered by the 80 wind turbines will reach the market as non-prioritised production, thus avoiding an increase of the prioritised production share which is currently slightly above 46%. In addition to the so-called "Green Certificates" *, Elsam is guaranteed to obtain a selling price of DKK 0.33 per kWh for power produced during a fixed number of full-load hours, equivalent to approx. ten years of production. When the number of full-load hours has been reached after an estimated ten years, all subsidies will be discontinued, and power from Horns Rev will be sold at market prices. The Green Certificates will be available throughout the full service life of the wind turbines, and it is expected that they will be traded at DKK 0.10-0.27 per kWh.Settlement according to these guidelines will enable power from Horns Rev to be sold at the lowest price for renewable energy that has ever been seen in Denmark.
* Green Certificates are securities that can be traded on a dedicated exchange. Depending on the sale of power, Green Certificate-producers can achieve additional revenue from Green Certificate power.
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