RWE has pulled out of a partnership with TotalEnergies that secured the 1.5GW N-11.2 offshore wind lease in today’s German auction.
The German developer, headed up by Markus Krebber (pictured), told reNEWS it was part of the bidding consortium but “we are now withdrawing” from the alliance “at short notice”.
A spokesperson said the bid levels do not meet the company’s “criteria for economically viable investments”.
The partners’ special purpose company for the auction, Offshore Wind One, was awarded the contract for area 1.5GW N-11.2 at a bid value of €1.3m/MW, totalling almost €2bn.
“TotalEnergies will realise the project on its own,” the spokesperson added.
“In Germany, we are going to realise our 1.6-gigawatt Nordseecluster, for which we have already taken FID.
“RWE does not have to make any lease payments to the German Federal Network Agency (Bundesnetzagentur) for the Nordseecluster sites.”