RWE wind farm investment

News

German energy company, RWE Innogy, has announced the acquisition of renewable energy group ENOVA’s project company, ENOVA Energieanlagen.

The deal will include the offshore wind project North Sea Windpower 3 (NSWP3), which is to be renamed Innogy Nordsee 1.

Upon approval next year, the planned offshore wind farm will be the largest off the German coast with an estimated 960MW capacity.

The €2.8bn (£2.6bn) wind farm will cover an area of 150km2, 40km north of Juist island.

The first wind turbines are expected to start running by 2011, with the project scheduled for completion in 2015.

RWE sees this investment as part of its long-term commitment to help the German government achieve its renewable energy goals.

By 2012, RWE hopes to displace up to 15 million tonnes of CO2 per year and secure a renewable energy capacity of around 4,500MW.

Prof Fritz Vahrenholt, chief executive of RWE Innogy, said: ‘In Germany, the construction of an offshore wind farm is a very ambitious project due to the high requirements.

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