RWE starts offshore wind joint venture

Germany

BERLIN, January 10, 2022 – RWE has signed a partnership with Canadian power producer Northland Power for development of a 1.3-GW cluster of offshore wind farms in the North Sea, the German multinational energy company announced on Thursday.

The joint venture is owned by RWE Renewables with 51% shares, with the remaining shares owned by Northland Power.

The new entity will lead the construction of three wind farms that will begin operation between 2026 and 2028.

The wind farms will be located on Germany’s North Sea north of the Island of Juist.

Lease to build the first of the three wind farms has been acquired and will see development of a 433-MW offshore wind facility. The remaining sites are expected to be auctioned in 2023.

RWE plans to grow its renewables capacity from 2.4 GW to 8 GW.

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