Latest news with #NordseeclusterA
Yahoo
6 days ago
- Business
- Yahoo
NBIM buys 49% stake in RWE's 1.6GW and 1.1GW offshore wind projects
Norges Bank Investment Management (NBIM) has purchased a 49% equity stake in RWE's 1.6GW Nordseecluster in Germany and the 1.1GW Thor offshore wind projects in Denmark. The transaction, valued at €1.4bn, was first announced in March 2025. Situated 50km north of Juist Island, the Nordseecluster wind farm is undergoing construction in two stages. The first phase, Nordseecluster A, with a capacity of 660MW, will be fully operational by 2027. The subsequent phase, Nordseecluster B, with a higher capacity of 900MW, is scheduled for completion in 2029. The Nordseecluster is projected to generate sufficient green electricity for 1.6 million households in Germany. Denmark's largest offshore wind farm, Thor, is located 22km off the Jutland coast and set for full commissioning in 2027. With a total capacity of 1,080MW, the Thor wind farm will supply electricity to more than one million Danish homes. Construction of both the Nordseecluster and Thor is on track, with the installation of monopile foundations for Thor already underway and the Nordseecluster A foundations being prepared at Eemshaven for installation in summer 2025. Wind turbine installation for both projects is planned for 2026. The projects will have long-term contracted revenues that offer stable cash flows and decrease risk to the developments. RWE operates 19 offshore wind farms. Besides Nordseecluster and Thor, the company is building the Sofia wind farm offshore England and OranjeWind offshore the Netherlands. "NBIM buys 49% stake in RWE's 1.6GW and 1.1GW offshore wind projects" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Yahoo
01-04-2025
- Business
- Yahoo
Norges Bank to acquire 49% stake in Danish and German wind farms
Norges Bank Investment Management (NBIM) will acquire a 49% stake in two offshore wind projects, Nordseecluster in Germany and Thor in Denmark, for €1.4bn ($1.5bn) from RWE. RWE will retain a 51% ownership and continue as the developer and operator of the wind farms, which are currently under construction. The deal values the projects at €2.87bn, with NBIM's investment reaching €4bn, including funding its share of wind farm construction with no external debt financing. The transaction will be completed by the start of the third quarter of 2025, subject to approvals. The 1.1GW Thor, which will be Denmark's largest offshore wind farm, will feature 72 15MW turbines. It will be capable of powering more than one million Danish homes annually and be fully operational by 2027. The 1.6GW Nordseecluster, located near the German island of Juist, will have 104 15MW turbines. It will generate power sufficient for 1.6 million German households. The Nordseecluster will be built in two phases: the 600MW Nordseecluster A and the 900MW Nordseecluster B. Full commissioning of Nordseecluster A is expected in 2027 and Nordseecluster B in 2029. The projects will generate long-term contracted revenues, ensuring stable cash flows and minimising risks associated with the projects. In addition to Nordseecluster and Thor, RWE is progressing with the construction of the Sofia offshore wind farm in England and OranjeWind in the Netherlands. In March 2025, RWE provided an installation contract to Global Wind Service for the Thor offshore wind farm project in the Danish North Sea. "Norges Bank to acquire 49% stake in Danish and German wind farms" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
