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RWE Innogy acquires German offshore wind project costing €2.8bn

19 Dec 2008

RWE Innogy has acquired the project company ENOVA Energieanlagen, part of the ENOVA Group, which includes the rights to the offshore North Sea Windpower 3 wind project.

Following the completion of the deal, the wind farm will be renamed Innogy Nordsee 1.

It is expected to be Germany’s largest offshore wind farm, with an anticipated 960 MW capacity and will cost €2.8bn.

RWE Innogy and ENOVA expect to receive full approval by the close of 2009 and would then commence preparations in 2010, with entire completion scheduled for 2015.

Dr Juergen Grossmann, CEO of RWE, said, ‘Some 1,000 MW of windpower on the high seas is the largest single project RWE has undertaken so far in the area of renewables. Even in these times of economic crisis, RWE Innogy is consciously stepping up its investment pace.’

The wind farm will avoid approximately 2.6 million tonnes of CO2 emissions annually and will mark a step towards RWE’s target of securing 4,500 MW of renewable energy by 2012.

Helmuth Bruemmer, the managing director of the ENOVA Group, said, ‘To date, we have invested almost ten years of development in realising our offshore projects. It is therefore also a major success for me personally to be able to implement the upcoming tasks together with RWE Innogy. With RWE Innogy, we have found the right partner to realise one of the largest offshore projects in the world.’

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