RWE’s Post

  Welcome on board, Norges Bank Investment Management!   We are entering a new partnership with Norges Bank Investment Management for our Nordseecluster and Thor offshore wind projects which are currently under construction. While our new partner and co-investor will acquire 49% stakes, we remain in charge of construction and operations. The agreed purchase price is approximately €1.4 billion as of closing which is expected by the beginning of the third quarter of 2025.   Active portfolio management is part of our systematic approach to optimise our capital allocation for our offshore wind business. By selling down and entering partnerships for our projects, we reduce our capital employed for projects under construction and our partner gets stakes in highly attractive projects.    Once fully commissioned, the two offshore wind farms will have a total capacity of 2.7 gigawatts – enough to power more than 2.6 million households in Germany and Denmark.    A big thank you to the projects team on both sides for making this possible.