RWE has confirmed it will sell a stake in its 1.4GW Sofia project off east England next year.
The move to farm-down a share of the 100-turbine project, currently in construction ahead of commissioning next year, is part of the German developer’s wider strategy to reduce capital exposure.
The announcement follows last month’s sale of a 49% stake in the Nordseecluster and Thor developments off Germany and Denmark to Norges Bank Investment Management.
RWE also plans to sell a 50% stake in its 4.2GW Norfolk offshore wind zone, comprising the consented 1.4GW Vanguard East, Vanguard West and Boreas projects
“We intend to sell stakes in our Sofia offshore project next year,” said RWE CEO Michael Muller said on a call to journalists this morning (15 May).
“This means we are implementing what we announced: we are realising the value from our offshore projects at the optimal time and spreading the investments across several shoulders.”