Overview

• The August auction saw no bids for the two North Sea sites, marking the first time a German offshore wind tender has failed.
• Preliminary studies by Fraunhofer IWES estimate fewer than 3,000 full-load hours annually at sites N-10.1 and N-10.2, undermining project returns.
• Investors point to elevated geological risks, volatile electricity prices including negative-price episodes, and looming six-month completion deadlines as deterrents.
• Economics Minister Katherina Reiche has ordered a review of site suitability and auction terms, drawing lessons from U.K. reforms.
• Stakeholders are pushing for two-sided Contracts for Difference to share price risk and plan to re-tender the areas in June 2026.