RWE buys out Northland Power in gigascale Nordseecluster offshore wind complex - Recharge
RWE buys out Northland Power in gigascale Nordseecluster offshore wind complex | Recharge
RWE has bought the 49% it didn’t already own in the Nordseecluster (North Sea cluster) complex of offshore wind projects from its partner Northland Power for €35m ($37.52m), which the German utility said offers significant synergies in development, construction and operation.
“Becoming the sole owner of the Nordseecluster aligns with our ambition to further grow our position as a global leader in offshore wind,” RWE offshore wind CEO Sven Utermöhlen said.
“As it will be Germany’s first gigawatt-scale offshore wind cluster, it will provide us with significant size and scale.
Related Knowledge Center: ENERGY BASICS: wind
Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent.