# Siemens Energy signs 7-billion-eur offshore power deal with TenneT
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-04-20
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Siemens Energy secures 7-billion-eur wind power deal with TenneT
Meta Description: Siemens Energy secures 7-billion-eur contract to transport wind farm power to Germany with Spain's Dragados Offshore. Huge impact on offshore grid
URL: https://financedigest.com/siemens-energy-signs-7-billion-eur-offshore-power-deal-with-tennethtml

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# Siemens Energy signs 7-billion-eur offshore power deal with TenneT

BERLIN (Reuters) – Siemens Energy has won contracts worth almost 7 billion euros ($7.68 billion) as part of a consortium with Spain’s Dragados Offshore to transport wind farm power to northern Germany, the German company announced on Thursday.

Under the deal with Dutch electric grid company TenneT, the companies will supply technology for three offshore grid connections in the North Sea, Siemens Energy said in a statement.

The grid connections, named BalWin3, LanWin2, and LanWin4, will transport a total of of 6 gigawatts (GW) onshore using high-voltage direct current (HVDC) transmission technology, according to the statement.

According to [industry sources](https://www.financedigest.com/german-new-passenger-car-registrations-up-3-in-august-industry-source.html "German new passenger car registrations up 3% in August – industry source"), the contract sum is to be divided equally between Siemens Energy and Dragados Offshore.

Siemens [Energy is to manufacture the main electrical components at its factories in Europe](https://www.financedigest.com/europe-burns-cash-to-help-businesses-in-deepening-energy-crisis.html "Europe burns cash to help businesses in deepening energy crisis"), while Dragados Offshore will be responsible for the construction and installation of the platforms, perched on stilts near the wind farms.

Late last month, TenneT awarded 11 contracts worth a total of 23 billion euros to connect [North Sea](https://www.financedigest.com/bp-wins-over-greenpeace-in-north-sea-oil-court-case.html "BP wins over Greenpeace in North Sea oil court case") wind farms to the grid. These went to consortia led by Hitachi [Energy and General Electric](https://www.financedigest.com/swedish-energy-minister-need-to-decouple-gas-from-electricity-price.html "Swedish energy minister: need to decouple gas from electricity price").

($1 = 0.9116 euros)

(Reporting by Tom Kaeckenhoff, Writing by Rachel More, Editing by Friederike Heine)


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