Luxcara selects Ming Yang for 18.5 MW offshore wind turbine project

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 delivery of 16 offshore wind turbines, each with a capacity of 18.5 MW, for the Waterkant project in the German North Sea. With a rotor diameter of 260 meters, the turbines are the most powerful in the world. Ming Yang was selected after an international tender in 2023 and a rigorous evaluation of bids. The turbines are scheduled to be installed in 2028 and will help generate electricity for around 400,000 homes.

Selection process

The choice of the turbine took into account technological, financial, contractual and environmental aspects. The decision in favour of Ming Yang was also influenced by an in-depth assessment of the supply chain, ESG compliance according to the EU taxonomy and cybersecurity, supported by independent experts from DNV and KPMG. Ming Yang is committed to manufacturing the turbines using 100% renewable energy and creating jobs in Europe, with electrical components sourced from European subcontractors.

Perspectives and impact

Holger Matthiesen, Project Director at Luxcara and Managing Director of Waterkant Energy, said: “By selecting the most powerful offshore turbines in the world, we will accelerate Germany’s energy transformation 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 announced its successful participation in the German offshore wind auction. Waterkant Energy won the right to build an offshore wind farm in Germany’s exclusive economic zone near Borkum.

Strategic investments

The Waterkant project is part of a portfolio of projects that Luxcara advises on behalf of institutional investors, including pension funds from Germany, Europe and abroad. The aim of this investment is to generate financial returns while helping to transform the energy mix. Since 2009, Luxcara has established itself as one of the leading investors in energy infrastructure projects in Europe. The company’s portfolio includes clean energy infrastructure across Europe, with a total capacity of over 6 GW and an investment volume of around EUR 6 billion.