By Sabela Ojea
Oersted AS said Tuesday that it has signed a 12-year corporate power-purchase contract with Alphabet Inc.'s Google.
The Danish multinational power company said that Google will offtake 50 megawatts of Oersted's planned 900 megawatts Borkum Riffgrund 3 offshore-wind farm, located in the German North Sea.
"The CPPA with Google will contribute to providing revenue certainty for Oersted and help mature Borkum Riffgrund 3 towards a final investment decision, which is expected by the end of 2021," the company said.
The deal will also contribute to Google's commitment to operate all of its data centers, cloud regions and campuses with carbon-free energy by 2030, Oersted noted.
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(END) Dow Jones Newswires