Luxcara, an independent German asset manager specializing in energy infrastructure, has announced the signing of a preferred supplier agreement with Ming Yang Smart Energy. The agreement covers the supply of 16 offshore wind turbines, each rated at 18.5 MW, for the Waterkant project in Germany’s North Sea. These turbines, which have a rotor diameter of 260 meters, are the most powerful in the world. Ming Yang was chosen following an international call for tenders launched in 2023 and a rigorous evaluation of the bids. The turbines are due to be installed in 2028, and will help generate electricity for around 400,000 homes.
Selection process
Turbine selection took into account technological, financial, contractual and environmental aspects. The decision in favor of Ming Yang was also influenced by an in-depth assessment of the supply chain, ESG compliance according to the EU taxonomy and cybersecurity, with the support of independent experts from DNV and KPMG. Ming Yang is committed to producing the turbines using 100% renewable energy and to creating job opportunities in Europe, with electrical components sourced from European subcontractors.
Outlook and Impact
Holger Matthiesen, Project Director at Luxcara and Managing Director of Waterkant Energy, said: “By choosing the world’s most powerful offshore turbines, we will accelerate Germany’s energy transition while promoting competition in the industry. The management, operation and control of the Waterkant wind farm will remain entirely in the hands of an independent German company.” In August 2023, Luxcara had announced its successful participation in the German offshore wind auction. Waterkant Energy has won the right to build an offshore wind farm in Germany’s exclusive economic zone near Borkum.
Strategic Investment
The Waterkant project is part of a portfolio of projects that Luxcara is advising on behalf of institutional investors, including pension funds from Germany, Europe and overseas. This investment aims to generate financial returns while helping to transform the energy mix. Since 2009, Luxcara has established itself as one of Europe’s leading investors in energy infrastructure projects. The company’s portfolio includes clean energy infrastructures across Europe, with a total capacity of over 6 GW and an investment volume of around 6 billion euros.
