N-12.3
BNetzA auction result June 2024. Grid connection target end of 2030.
Status
Early Developmentlifecycle stage
ProspectiveHafrok completion outlook
Ownership
EOEnBW Offshore Projektgesellschaft 1 GmbH — 100% ◆
Location
GermanyNorth Sea
Technology
Capacity
1,000 MW ◆
Turbines
—
Foundation
Monopile ◆
Site & conditions
Site rights
Seabed rights held ∴
Origination
BNetzA Offshore Wind Auction 2024 (dynamic bidding / concession) · 2024 ·
Water depth
38–43 m ≈
Wind speed
10.4 m/s @ 150 m ≈
Revenue & grid
Offtake
Merchant ◆
Grid
Offered · 2024-06 ◆
Connection
Statutory TSO grid connection right under WindSeeG §12 granted … ◆
Schedule
FID
Not taken
COD · announced
2032 ◆
COD · Hafrok
2033 expected
Delivery outlook modelled by Hafrok · calibrated on delivered projects
2033
expected year of commercial operation
The developer says 2032; Hafrok expects 2033 — 1 year later.
Chance of delivery
≈64%
estimated chance this project reaches commercial operation
Early Development projects complete ≈61% of the time on Hafrok's record. A secured offtake contract lifts this one above that; its size and technical complexity pull the other way.
COD outlook
If it completes, when — Hafrok’s probability by year (teal) · the developer’s COD guidance, by date stated (ink)
| Year | Probability |
|---|---|
| 2032 | 14.1% |
| 2033 (expected) | 28.0% |
| 2034 | 22.7% |
| 2035 | 14.6% |
| 2036 | 8.7% |
| 2037 | 5.1% |
| 2038 | 3.1% |
| 2039 | 1.8% |
| 2040 | 1.1% |
| 2041 | 0.7% |
| Stated | Announced COD |
|---|---|
| 2026-03-18 | 2032 |
| 2026-06-16 | 2031 |
How Hafrok got this date
1
No dated milestone yet
Nothing is consented or financed with a date, so the estimate starts from today (
2026), adds the time similar projects (in established offshore-wind markets) took from consent to operation, plus an allowance for obtaining consent.2
Earliest credible date
Typical consent-to-operation time plus allowances means commercial operation before
2033 is not credible.3
Result
Expected commercial operation
2033, likely range 2033–2039 (the middle half of outcomes for similar projects). With no milestone to build from, the earliest credible date is the estimate, with a deliberately wide range.4
Year-by-year chart
The bars spread that estimate across years using how similar projects actually slipped against their dates — more often late than early, which is why the bars lean right.
5
Chance of delivery — separate from timing
Start from the share of Early Development projects that went on to complete — ≈61%, measured on Hafrok's record of delivered and abandoned projects, with an allowance held back where that record cannot yet speak (projects still unresolved, changed market conditions). About three in four early-stage projects with a final outcome went on to operate — a record from an easier era. Most of today's early pipeline is still unresolved, so the estimate discounts it. Then adjust for this project's own evidence — offtake, market, size, technical complexity — to ≈64%, which rates it
Prospective on Hafrok's four-step delivery scale (Delivering · Expected · Prospective · Fragile).Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record
Origination · 2024-06
BNetzA Offshore Wind Auction 2024 (dynamic bidding / concession)
- Awarded to
- EnBW Offshore Projektgesellschaft 1 GmbH
- Basis
- integrated tender
From the auction results — the round that created the project.
Dashed tick marks today (9 Sep 2026). The ▲ below the spine is the developer-announced COD. 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.
Announced COD: pulled forward -1.0 yr (first announced 2032) · the full guidance history is in the delivery chart above
Revenue & offtake route to market — open
No offtake secured — route to market open
Zero-subsidy BNetzA dynamic-bidding auction, June 2024, 55 bidding rounds. EnBW Offshore Projektgesellschaft 1 GmbH bid EUR 1.065 million/MW (total EUR 1.065 billion) with zero cents/kWh subsidy. EnBW plans future PPAs with industrial customers; no PPA has been confirmed signed as of 2026-06-16. ◇
The routes describe what exists in this market — not a prediction of which the project will take. Timing math for the auction gate lives in the delivery outlook above.
Next visible round · from the auction calendar
Germany offshore tender — 2027 (FEP cluster) ◇
indicative
Installation how the build is going · from satellite counts and Hafrok’s registers
Installation not started
nothing to count yet: the satellite tracker begins when offshore construction does
Installation · on record
StageEarly Development
Offshore constructionnot started
Expected start of operation2032
Sources & verification
7/13 fields verified · rests on 10 sources (3 primary) · ◆ 5 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.
Regulator1
[2]
Bundesnetzagentur (Federal Network Agency)2024-06-21◆ Bundesnetzagentur - Press - Results of d…
"EnBW Offshore Projektgesellschaft 1 GmbH with a bid of €1.065mn/MW for N 12.3." "The two offshore sites, which have a capacity of 1,500 MW and 1,000 MW respectively, are located about 120 km north-we…
supportsoperatorConsentCommercial operationCOD historyTotal capacity+5 more
Operator3
[3]
EnBW Energie Baden-Württemberg AG2024-06-21◆ EnBW awarded contract for offshore wind …
"The wind farm is set to enter operation 120 km northwest of Heligoland in 2031." "EnBW plans to sell much of the electricity produced by the offshore wind farm to industrial customers in the future t…
supportsCommercial operationTotal capacityMechanismDetail
[8]
EnBW2026-03-18◆ EnBW completes ground investigations for…
“The Dreekant offshore wind farm is set to go online 120 km northwest of Heligoland in 2032. ... "The data obtained is essential for planning the foundations. We are pleased that it is possible to use …”
supportsCommercial operationFoundation
[9]
EnBW Energie Baden-Württemberg AG2024-06◆ EnBW awarded contract for offshore wind …
"EnBW won the contract for a one gigawatt (GW) offshore wind farm in the North Sea." (EnBW erhaelt Zuschlag fuer 1-GW-Offshore- Windpark; the BNetzA result names the winning bidder as EnBW Offshore Pr…
supports↳ parents
Auction pipeline1
[10]
Bundesnetzagentur2026◆ bnetza-noncentral-2027
BNetzA — 2026 non-central offshore tenders suspended; N-10.1/N-10.2/N-12.4/N-12.5/N-13.1/N-13.2 moved to tender year 2027.
supportsGermany offshore tender — 2027 (FEP cluster)
Trade press4
[4]
offshoreWIND.biz2024
Press report — cited, not quoted; read it at the source link.
supportsTotal capacity
[5]
4C Offshore2026-07-02
Press report — cited, not quoted; read it at the source link.
supportsCoordinates
[6]
[7]
Unverified import1
[1]
unknown
Press report — cited, not quoted; read it at the source link.
supportsTotal capacityWater depthCoordinates