EnBW Baltic 2
Located 32km north of Rugen island. Germany's largest Baltic Sea wind farm.
Status
Operationallifecycle stage
Ownership
EEEnBW Energie Baden-Württemberg AG — 50.1% ◆
Vårgrønn — 27.4% ◆RWÄrzteversorgung Westfalen-Lippe (AVWL) — 22.5% ◆
Location
GermanyBaltic Sea
Technology
Capacity
288 MW ◆
Turbines
80 × 3.6 MW ◆
Model
Siemens Swt 3-6-120 ◆
Foundation
Jacket+Monopile ◆
Site & conditions
Site rights
Seabed rights held ∴
Origination
wpd offshore GmbH · 2005 ◆
Water depth
23–44 m ◆
Distance from shore
32 km ◆
Wind speed
9.7 m/s @ 100 m ≈
Revenue & grid
Offtake
FiT ◆
Grid
Secured · 2015-09-21 ◆
Connection
Bentwisch substation near Rostock (50Hertz, 150kV AC, ~120km … ◆
Schedule
FID
Jan 2013 ◆
COD
21 Sep 2015 ◆
Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record
Origination · 2005-04
Party of record at origination
- Awarded to
- wpd offshore GmbH
- Holder
- Offshore Ostsee Wind AG
- Basis
- permit / concession holder
Permit holder: Offshore Ostsee Wind AG — held by wpd offshore GmbH per the record's source 'wpd-eos-oow-sale-to-enbw-2008'. BSH Genehmigungsbescheid (Kriegers Flak / Baltic 2), 6 Apr 2005 — 'Auf den Antrag der Offshore Ostsee Wind AG, Seestraße 71a, 18211 Börgerende … vom 11.05.2001 in der Fassung vom 30.08.2004 werden … genehmigt.' EnBW's acquisition (2008) is not yet a recorded deal. Owner: the 2008 sale names Offshore Ostsee Wind AG a wpd offshore GmbH subsidiary; the owner is as of the FIRST held document (13 May 2008), not asserted for the 2005 grant.
From the auction results — the round that created the project.
Acquisition · 2008-05-13
wpd offshore GmbH → EnBW 100%
- Stake
- 100%
- Consideration
- not disclosed
- Announced
- 2008-05-13
- Project stage
- early development
Price undisclosed. Written 2026-08-19.
Evidence
- wpd AG (via windbranche.de press service) — wpd sichert Realisierung erster Offshore-Vorhaben ↗ 2008-05-13 ◆ held
From Hafrok’s transactions record
Farmdown · 2015-01
EnBW → Macquarie 49.89%
- Stake
- 49.89%
- Consideration
- €720m
- Implied 100% value
- €1,443m
- Implied
- €5.01m / MW
- Announced
- 2015-01
- Closed
- 2015-03
- Project stage
- under construction
EnBW sold 49.89% to Macquarie Capital for EUR 720m. Deal announced January 2015 when project had 34 of 80 turbines installed (under construction). Full commissioning September 2015. EUR 720m described as "purchase price for the shares" but unclear if equity-only or includes project debt assumption. Implies 100% equity ~EUR 1,443m, EUR 5,011/MW — well above UC high end (EUR 3.6M). Project had EEG feed-in tariff (pre-2017). Early institutional offshore wind deal in Germany with limited deal flow, which may explain the premium. Equity/EV ambiguity flagged by critic.
Evidence
From Hafrok’s transactions record
Secondary trade · 2015-06
Macquarie → PGGM Infrastructure Fund 27.4%
- Stake
- 27.4%
- Consideration
- not disclosed
- Announced
- 2015-06
- Closed
- 2015-09
- Project stage
- operational
Macquarie on-sold 27.4% to PGGM Infrastructure Fund. Consideration undisclosed. Macquarie placed balance (~22.5%) with Arzteversorgung Westfalen-Lippe (AVWL).
Evidence
From Hafrok’s transactions record
Secondary trade · 2015-Q3
Macquarie → Ärzteversorgung Westfalen-Lippe (AVWL) 22.5%
- Stake
- 22.5%
- Consideration
- not disclosed
- Announced
- 2015-Q3
- Project stage
- operational
ÄVWL's own article (2016): "Die Ärzteversorgung Westfalen-Lippe hat sich in einem Konsortium gemeinsam mit Macquarie Capital und PGGM, dem größten niederländischen Pensionsfonds, am Projekt beteiligt" — the placement of the balance of Macquarie's 49.89% after PGGM's 27.4% (previous row), dated 2015-Q3: Macquarie's shares were to transfer after regulatory approval and full commissioning (Sept 2015; see the Jan-2015 row), and the placement to ÄVWL sits with that transfer (ÄVWL states no date). ÄVWL states no percentage; 22.5 = 49.89 − 27.4, and matches the 22.5% ÄVWL is stated to hold at the 2024 Vårgrønn entry (next row: "Post-close: EnBW 50.1%, Vårgrønn 27.4%, AVWL 22.5%"). Consideration undisclosed.
Evidence
From Hafrok’s transactions record
Secondary trade · 2024-11
PGGM Infrastructure Fund → Vargronn 27.4%
- Stake
- 27.4%
- Consideration
- not disclosed
- Announced
- 2024-11
- Closed
- 2025-01
- Project stage
- operational
PGGM sold 27.4% to Vargronn (Eni Plenitude / HitecVision JV). Consideration undisclosed. Post-close: EnBW 50.1%, Vargronn 27.4%, AVWL 22.5%.
Evidence
- vargronn.com ↗
- offshoreWIND.biz — Vårgrønn Debuts in German Offshore Wind Market with Baltic 2 Acquisition ↗ 2024-11 ◆ held
From Hafrok’s transactions record
Dashed tick marks today (9 Sep 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: EEG 2012 feed-in tariff 15.0 ct/kWh
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 satellite counts and Hafrok’s registers
Satellite survey
the farm as it stands, counted from satellite radar images · built before the count began, so there is no build to chart
Satellite survey
Structures standing74≈80 turbines + 1 platform expected · 7 fewer than expected — a position the survey missed
Surveyed2026-09-01≈from 110 satellite passes
Built2013-08 → 2015-09-21offshore construction to start of operation, from the record
Hafrok counts the structures standing in the sea from satellite radar images (≈) and reads the count against the turbines and platforms on record. The farm was built before this count began, so the images show it complete; they cannot date its construction. Rows marked with a dot (·) come from Hafrok’s own registers.
Satellite image
Image taken2026-09-07≈Copernicus Sentinel-1 radar satellite, northbound pass
Farm covered100%≈the whole farm lies inside the image
Structures ringed74 confirmed · 0 not yet confirmed≈as counted on 2026-09-01 · the image is newer than the count, so a bright spot without a ring may be a structure not yet counted
Construction ports
PortRostock ◆·installation · quay 11000 m
Contains modified Copernicus Sentinel data 2026, processed by ESA and by Microsoft Planetary Computer.
Latest satellite radar image · 2026-09-07
a radar picture, not a photograph: the sea is dark, steel is bright · black is beyond the edge of the image
confirmed structure (74)seen recently, not yet confirmed (0)probably a substation platform (a larger structure than a turbine; the register above has the facts)farm boundary
Grid connection
from Hafrok’s substation, converter and cable registers
Offshore platforms · 1
Offshore substationEnBW Baltic 2 offshore substation·33/155 (export at 150) kV · in service 2015 · owner EnBW Baltic 2 GmbH (wind farm owner) — farm-owned platform; the export cable to shore is operated by 50Hertz Transmission
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
17/18 fields verified · rests on 9 sources (8 primary) · ◆ 7 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.
Regulator2
[1]
Bundesamt für Seeschifffahrt und Hydrographie (BSH)2005-04-06◆ Genehmigungsbescheid Offshore-Windpark E…
“Hamburg, den 06.04.2005 Genehmigungsbescheid [...] die Errichtung und der Betrieb von 80 einzelnen Windenergieanlagen (WEA) einschließlich Nebenanlagen sowie die Verlegung und der Betrieb einer Hochsp…”
supportsConsentConsent granted
[11]
Bundesnetzagentur — Marktstammdatenregister2026-08-23◆ Marktstammdatenregister (MaStR) offshore…
“Park row "Baltic 2": 80 units, 302.4 MW gross, statuses {'In Betrieb': 80}, operators ['EnBW Baltic 2 GmbH ＆ Co. KG'], commissioned 2015-04-24..2015-07-15, planned None..None.”
supportsRegister entry
Operator3
[2]
EnBW Energie Baden-Württemberg AG2025-09◆ EnBW Baltic 2 | EnBW
“The second EnBW wind farm was officially placed into operation on 21 September 2015. [...] 80 Siemens SWT-3.6-120 wind turbines [...] foundation types: 39 monopiles (approx. 23–35 m) for shallower are…”
supportsFirst powerCommercial operationTurbinesModelUnit capacity+5 more
[6]
Vårgrønn2025-01-08◆ Vårgrønn completes acquisition of Baltic…
“Vårgrønn completes acquisition of Baltic 2 offshore wind farm. Completion Date: January 8, 2025. The acquisition of this 288 MW German offshore wind farm was announced as binding on November 7, 2024, …”
supportsoperatorinvestor
[8]
50Hertz Transmission GmbH2025◆ Baltic 2
“approx. 120 km offshore and 16 km onshore cable route to Bentwisch substation near Rostock. 80 turbines of 3.6 MW each. Began producing renewable energy in the Baltic Sea [September 2015].”
supportsStatusConnection point
Financier1
[3]
European Investment Bank (EIB)2013-01-10◆ Germany: Offshore wind power: EIB financ…
“EUR 500 million loan to EnBW Baltic 2 [...] 288 megawatts [...] 80 wind turbines across 27 square kilometers [...] 32 km north of Rügen island [...] water depth reaching 44 meters [...] planned operat…”
supportsFinal investment decision
Trade press3
[4]
Offshore Wind Biz2013-08-20◆ Construction Starts on EnBW Baltic 2 OWF…
Press report — cited, not quoted; read it at the source link.
supportsOffshore constructionSite rightsinstallation
[7]
International Energy Agency (IEA)2012-01
“EEG 2012 offshore wind: initial tariff EUR Cent 15/kWh [...] tariff degression would not begin until 2018, with an annual reduction rate of 7%.”
supportsMechanismDetail
[9]