We have a fantastic partner in EnBW and now an even more competitive portfolio of nearly six GW of combined offshore wind power to develop together. Our plans go much further than just the turbines offshore. They see us investing in projects and in people – from EV charging to green hydrogen – aligned with Scotland’s energy transition plans.
Together with EnBW, we are pressing ahead with our ambitious sustainability strategy. We are becoming less dependent on fossil fuel sources and their price fluctuations.
With the two solar parks, we are expanding the output of all photovoltaic projects realized in Germany last year by 5% in one go.
Open-field sites like these really help to expand solar energy generation more quickly. And this is all the more important given the ambitious targets set by the German government. After all, the measures it has announced to accelerate the expansion of renewable energy sources, such as faster approval procedures, will not have a noticeable effect overnight.
The current events in Ukraine clearly show the challenges associated with the European energy transition. Modern gas power plants will be indispensable in ensuring that power generation methods are sufficiently flexible and thus guaranteeing security of supply. They are needed in parallel to the expansion of renewable energies, ready to be switched on at the push of a button to compensate for volatile feed-ins.
We have stepped up our LNG activities little by little in recent years. That's because liquefied natural gas plays a key role in the diversification of our fuels for energy generation: It opens up the possibility of new sources to secure Germany's gas supply in the transitional period of the new energy concept and builds a bridge to a green energy supply. This is why we specifically chose Stade as our import terminal. Technically, commercially and in terms of approval processes, the project is at a high stage of maturity.
Venture Global is thrilled to welcome EnBW as a long-term customer for both our Plaquemines and CP2 LNG facilities. This is the first direct binding offtake agreement for long-term US LNG signed by a German company, an important step that manifests Germany’s strategy to diversify its energy mix.
We have always emphasized that EnBW will support the efforts of the German government to maintain a secure supply of energy during the current crisis. We are acutely aware of the responsibility we have as one of the largest energy suppliers in Germany. The work that has now started will ensure that GKN II can generate as much electricity as possible and make it available to the electricity grid. At the same time, we remain committed to our master plan for the dismantling of the nuclear power plants. We have already been successfully implementing this plan for many years at our other four nuclear power plants and GKN II is next in line after it has been shut down. We remain committed to the phaseout of nuclear power.