RWEOY Rwe Ag (PK)

By Joshua Kirby

RWE Renewables said Monday that it signed agreements for four extension projects at offshore wind farms in the U.K., with a total potential capacity of 1.8 gigawatts including a share of close to 900 megawatts for RWE Renewables.

The renewable-energy company, a subsidiary of RWE AG, and its project partners signed deals with the Crown Estate to extend existing farms at Gwynt y Mor off the coast of north Wales, Galloper and Greater Gabbard in the southern North Sea and Rampion off the coast of Sussex in the English Channel.

The Gwynt y Mor extension is called Awel y Mor, while the Galloper extension is named Five Estuaries and the Greater Gabbard extension is called North Falls, RWE Renewables said. The Rampion extension is referred to as Rampion 2.

The projects all remain at the early stage and may be fully operational by the end of the decade, RWE Renewables said.

The company is the lead partner in the Awel y Mor and Five Estuaries developments, and has formed a 50-50 joint venture with its parent company to develop the North Falls site. Rampion 2 is a joint venture between RWE Renewables, Enbridge Inc. and a consortium led by Macquarie, the company said.

RWE Renewables Chief Commercial Officer and U.K. Chairman Tom Glover said the projects represent a multibillion-pound investment.

Write to Joshua Kirby at joshua.kirby@dowjones.com

(END) Dow Jones Newswires

September 28, 2020 05:03 ET (09:03 GMT)

Rwe (PK) (USOTC:RWEOY)
Historical Stock Chart
From Dec 2024 to Jan 2025

Rwe (PK) (USOTC:RWEOY)
Historical Stock Chart
From Jan 2024 to Jan 2025