RWE brings Norges Bank Investment Management (NBIM) on board as an investor for two planned large wind farms.
Norges Bank Investment Management (NBIM) is acquiring a 49% stake each in the 1.6 GW “Nordseecluster” project and the 1.1 GW “Thor” project from RWE. Once commissioned, the wind farms will produce electricity for a calculated 2.6 million households in Germany and Denmark.
RWE will reportedly remain responsible for the construction and subsequent operation of the offshore wind farms. The agreed purchase price is around €1.4 billion. Completion of the transaction is subject to the usual regulatory approvals and is expected to take place at the beginning of the third quarter of 2025.
The “North Sea Cluster” wind farm will be built in two phases around 50 km north of the island of Juist: the first phase, North Sea Cluster A with 660 MW, is scheduled to be fully commissioned in 2027. The complete commissioning of the second phase, “North Sea Cluster B” with 900 MW, is scheduled to follow in 2029. At 1,080 MW, “Thor” is Denmark’s largest offshore wind project to date.
With more than 20 years of experience in the development, construction and operation of offshore wind farms, RWE says it is one of the world’s leading players in the offshore wind sector. The company operates 19 offshore wind farms. In addition to “Nordseecluster” and “Thor”, RWE is building the offshore wind farm “Sofia” off the coast of England and “OranjeWind” off the Dutch coast.
