The project site, which is located in the German North Sea 84km north-west off the island of Borkum,  allows a potential for up to 73 wind turbines of multi megawatt class.

PNE Wind CEO Markus Lesser said: “This project was prepared by us so that it is eligible to participate in the first ever tender in Germany for offshore wind projects this year. This was instrumental in getting the deal done.”

PNE Wind, which acquired the Atlantis I project in 2013, will remain involved in the further development of wind farm as a long-term service provider. The deal is subject to various closing conditions.

Vattenfall senior vice president and head of business area wind Gunnar Groebler said: “After our successful participation in the tender rounds in Denmark last year where we could reinforce our offshore wind portfolio with another 950MW, we are now well on track in the German market as well.

 “We can now apply our know-how in terms of cost reduction for offshore wind in this country as well – for the benefit of the electricity customers and thus for the further acceptance of this effective way to produce green energy.”

The acquisition is part of Vattenfall’s plan to double its wind capacity on land and at sea with an annual expansion volume between 400MW and 600 MW by the end of the decade.