RWE has agreed to sell a 49% stake in a 225MW wind project in the German North Sea to Canadian developer Northland Power.
The German energy company said the deal was agreed this month and formal closing is pending in its half year results for 2022.
The project north of the island of Juist corresponds to the N-3.7 project, for which RWE was awarded a lease in last year’s German offshore wind auction.
In January, Northland Power agreed to buy 49% stakes in three other RWE projects located near the island – 433MW N-3.8, which also secured a lease last year, as well as 480MW N-3.6 and 420MW N-3.5, which are expected to go up for auction in 2023.
Publication of RWE’s final half year results today meanwhile confirms the €632m adjusted EBITDA for offshore wind posted in a provisional update at the end of last month.
The figure, which is a gain on €459m reported for the segment in the first half of 2021 is in part “thanks to higher wind levels, improved generation margins, and additional capacity”.
The first half of the year saw RWE and its consortium partners reach full operations at the 857MW Triton Knoll offshore wind farm in the North Sea.
“A further positive effect was felt from an increase in our stake in the Rampion offshore wind farm in the UK to a majority interest as of 1 April 2021 and its full consolidation since then,” the report adds.