• Acquisition of a 49% equity stake in RWE’s 1.6-gigawatt Nordseecluster and 1.1-gigawatt Thor offshore wind projects by Norges Bank Investment Management successfully completed
• RWE leads construction and operations on behalf of the partners
• Construction works are progressing as planned; once fully commissioned, wind farms will produce enough electricity to supply a total of more than 2.6 million households in Germany and Denmark

RWE and Norges Bank Investment Management (NBIM) have successfully closed the transaction they announced in March. NBIM now holds a 49% equity stake in both the Nordseecluster and Thor offshore wind projects. RWE, with a 51% stake, remains in charge of construction and operations throughout the lifecycle of these offshore wind farms. The purchase price is approximately €1.4 billion.

The Nordseecluster, located approximately 50 km north of the island of Juist, is being built in two phases: For the first phase, Nordseecluster A with 660 megawatts (MW), full commissioning is planned for 2027. For the second phase, Nordseecluster B with 900 MW, full commissioning is scheduled for 2029. In total, Nordseecluster will be generating enough green electricity to supply the equivalent of 1.6 million German households.

The Thor wind farm is Denmark’s largest offshore wind farm to date and is located approximately 22 km off the west coast of Jutland. Full commissioning is planned for 2027. With a total capacity of 1,080 MW, it will be able to produce enough electricity to supply more than one million Danish households.

Construction works well underway

Construction of both projects is progressing according to plan. Off the Danish cost, the installation of the monopile foundations for Thor has started. For the German project Nordseecluster A, first foundations have been offloaded and stored at the marshalling port in Eemshaven. Installation will begin this summer. For both projects, the installation of the wind turbines is scheduled for 2026.

Leading global player in offshore wind

With more than 20 years of experience in the development, construction and efficient operation of offshore wind farms, RWE is one of the world’s leading players in the offshore wind sector. 
The company operates 19 offshore wind farms. In addition to Nordseecluster and Thor, RWE is building the Sofia offshore wind farm off the coast of England, and OranjeWind off the coast of the Netherlands (RWE share: 50%).

For further information about Nordseecluster and Thor please visit the RWE website.