From Yahoo Finance: 2025-04-01 07:04:00

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. The deal values the projects at €2.87bn, with NBIM’s investment totaling €4bn.

The 1.1GW Thor, Denmark’s largest offshore wind farm, will have 72 15MW turbines. It will power over one million Danish homes annually and be operational by 2027. The 1.6GW Nordseecluster near the German island of Juist will feature 104 15MW turbines, generating enough power for 1.6 million German households.

Nordseecluster will be built in two phases: 600MW Nordseecluster A and 900MW Nordseecluster B. Full commissioning is expected in 2027 and 2029, respectively. Both projects will provide stable cash flows through long-term contracted revenues, mitigating risks.

RWE is also advancing with the construction of the Sofia offshore wind farm in England and OranjeWind in the Netherlands. In March 2025, RWE awarded an installation contract to Global Wind Service for the Thor offshore wind farm project in the Danish North Sea. The transaction is set to be completed by the start of the third quarter of 2025, subject to approvals.



Read more at Yahoo Finance: Norges Bank to acquire 49% stake in Danish and German wind farms