Ørsted’s Board of Directors has taken final investment decision on the two German offshore wind farms Gode Wind 3 (242 MW) and Borkum Riffgrund 3 (900 MW) which are expected to be commissioned in 2024 and 2025, respectively. Ørsted has signed CPPAs on Borkum Riffgrund 3 for a total of 786 MW with Covestro (100 MW), Amazon (350 MW), REWE Group (100 MW), BASF (186 MW), and Google (50 MW) to support the final investment decision by creating a large degree of revenue certainty for Borkum Riffgrund 3.On 19 October this year, Glennmont Partners became a 50% shareholder of Borkum Riffgrund 3. The agreement with Glennmont was made subject to certain conditions precedent, including Ørsted’s final investment decision. With the final investment decision, project permit, merger clearance, and foreign investment clearance now in place, Ørsted expects to complete the transaction no later than Q1 2022.Borkum Riffgrund 3 and Gode Wind 3 Borkum Riffgrund 3 and Gode Wind 3 will have export capacities of 900 MW and 242 MW, respectively, and will be located in the German North Sea close to Ørsted's existing offshore wind farms Borkum Riffgrund 1&2 and Gode Wind 1&2. Gode Wind 3 is expected to be commissioned in 2024, and Borkum Riffgrund 3 is expected to be commissioned in 2025. The power from both projects will be generated by Siemens Gamesa offshore wind turbines, each with a capacity of 11 MW and a 200-metre rotor diameter. In the German offshore wind auctions in 2017 and 2018, Ørsted was awarded the right to build five offshore wind projects, today known under the consolidated names Gode Wind 3 and Borkum Riffgrund 3.