Ørsted and Nuveen inaugurate Borkum Riffgrund 3, one of Germany’s largest offshore wind farms

Today, Ørsted and its partner Nuveen inaugurated Borkum Riffgrund 3, marking the official opening of the company’s largest offshore wind farm in Germany and one of the country’s first offshore wind farms on the scale of a conventional power plant. With an installed capacity of 913 MW, Borkum Riffgrund 3 can generate enough renewable electricity annually to cover the consumption of close to one million German households. Borkum Riffgrund 3 is located around 72 kilometres off the German North Sea coast and is owned 50/50 by Ørsted and Nuveen Infrastructure.

Rasmus Errboe, CEO of Ørsted, said:

“Borkum Riffgrund 3 shows what offshore wind can deliver for Germany: large-scale, home-grown renewable electricity for industry and households, built by a European supply chain. With well-designed, risk-balanced frameworks, the German North and Baltic seas can become power plants that help drive decarbonisation and energy independence.”

He continued: “At the same time, the inauguration is a major milestone for Ørsted, as we significantly increase our renewable energy capacity in Germany and take a large step towards delivery on our global 8.1 GW construction portfolio.”

In her message to the guests in Hamburg, Katherina Reiche, German Federal Minister for Economic Affairs and Energy, said: “With 913 MW, this single project adds nearly a tenth to our national offshore capacity, which has already surpassed 10 GW this year. One wind farm with the output of a conventional power plant. Clean energy at true industrial scale.”

She added: “Offshore wind energy is clean, resilient energy and a serious industrial contributor.”

The event was attended by Grant Hendrik Tonne, Lower Saxony Minister of Economic Affairs, Transport and Building. He underscored the importance of offshore wind for Germany’s energy independence and industrial competitiveness.

“Borkum Riffgrund 3 illustrates why offshore wind isn’t only an essential pillar of the energy transition. It’s also an important economic driver and a strategic locational advantage. It creates orders for industrial companies, supports skilled employment, and strengthens the maritime expertise of our coastal regions,” said Grant Hendrik Tonne.

“Today’s inauguration marks a proud moment for Nuveen Infrastructure and our long-standing partnership with Ørsted. Borkum Riffgrund 3 reflects the scale of investment and collaboration needed to deliver Germany’s energy transition, bringing together industrial offtakers, supply chain partners, and long-term capital to create a project that will serve German businesses and households for decades to come. As we look ahead, continued regulatory clarity and stable, indexed frameworks will be essential to mobilising the next wave of investment in offshore wind, and we remain committed to supporting Germany's ambitions in this space,” said Jordi Francesch, Global Head of Clean Energy at Nuveen Infrastructure.

A major new source of German renewable energy
Germany still imports more than 60 % of its energy. This has left households and businesses exposed to fossil fuel price shocks, which have happened twice in less than five years.

“Germany is currently taking important steps to make offshore wind more efficient and affordable, especially by introducing two-sided CfDs, longer operating lives for wind farms, and a stronger focus on cross-border projects. A clear, CfD-only auction model would reduce complexity and provide greater certainty, helping to ensure that awarded projects are ultimately built and delivered, a key objective shared by both government and industry. Indexation is essential because it mitigates policy-induced, inflation-related, and macroeconomic risks beyond developers’ control. Countries such as the UK, Poland, Denmark, and Belgium have already recognised the importance of this,” said Josche Muth, Country Manager of Ørsted Germany.

As a core part of its contribution to German energy security, Borkum Riffgrund 3 helps cover the growing demand for renewable electricity from companies at the centre of Germany’s industrial and digital economy, including Amazon, Google, EHA/REWE Group, Covestro, and BASF.

Borkum Riffgrund 3 connects directly to the TenneT Dolwin epsilon converter platform – a first for offshore wind in Germany. Continued innovation and coordination in the grid build-out was a key topic at the inauguration, and there was broad agreement that an accelerated and coordinated approach would be central to unlocking Germany's renewable energy potential.

Built through a European supply chain
Borkum Riffgrund 3 is a prime example of the strength of the European offshore wind supply chain and its importance in Germany. The project has been constructed using wind turbines and foundations from Germany and Denmark, cables from Germany and France, and installation vessels from the Netherlands and Belgium, among others. Around 100 German companies have been contracted in connection with the development and construction of the wind farm, and operations and maintenance are carried out from Ørsted’s sites in Norden-Norddeich and Emden.

More broadly, offshore wind creates value well beyond coastal regions, including in industrial regions such as North Rhine-Westphalia, Baden-Württemberg, and Saarland. In 2025, the offshore wind industry generated more than 30,000 full-time jobs and EUR 14.6 billion in gross value across Germany, underlining the sector’s role as both an energy and an industrial asset.

“Offshore wind remains a source of industrial strength for Germany, and every project in German waters will create a significant number of manufacturing jobs across the country. We’re happy to inaugurate Borkum Riffgrund 3 together with our close partners from the supply chain, who not only support us in Germany but also across our global construction portfolio spanning three continents,” said Patrick Harnett, Chief Construction Officer at Ørsted.

Borkum Riffgrund 3 is Ørsted’s sixth operational offshore wind farm in Germany. It brings Ørsted’s installed offshore wind capacity in the country to around 2.5 GW; a 25 % market share and the largest operational portfolio of any company in Germany.

For further information, please contact:
Ørsted Global Media Relations 
Frederik Høj Rühne
+45 99 55 72 77 
globalmedia@orsted.com

Nuveen 
Rachael Dowers  
+44 20 3727 8234
rachael.dowers@nuveenglobal.com
media-inquiries@nuveen.com  

About Ørsted 
Ørsted is a global leader in developing, constructing, and operating offshore wind farms, with a core focus on Europe. Backed by 35 years of experience in offshore wind, Ørsted has 11 GW of installed offshore capacity and 7.2 GW under construction. Ørsted’s total installed renewable energy capacity spanning Europe, Asia Pacific, and North America exceeds 19 GW across a portfolio that also includes onshore wind, solar power, energy storage, bioenergy plants, and energy trading. Widely recognised as a global sustainability leader, Ørsted is guided by its vision of a world that runs entirely on green energy. Headquartered in Denmark, Ørsted employs approximately 7,300 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2025, the group's operating profit excluding new partnerships and cancellation fees was DKK 25.1 billion (EUR 3.4 billion).

About Nuveen
Nuveen is a global investment leader, managing USD 1.4 trillion in public and private assets for clients around the world, as of June 30, 2026. With broad expertise across income and alternatives, we invest in the growth of businesses, real estate, infrastructure, and natural capital, providing clients with the reliability, access, and foresight unique to our 125+ year heritage. Our prevailing perspective on the future drives our ambition to innovate and adapt our business to the changing needs of investors — all to pursue lasting performance for our clients, our communities, and our global economy.