RWE to Build Two Wind Farms in North Sea off German Coast
By David Sachs
RWE will build two new wind farms in the North Sea off of the German coast, expanding its portfolio of offshore energy production.
The German energy firm said Monday that construction on the first project will start in 2025 and finish in 2026 with a capacity of 660 megawatts. The firm will start building the second wind farm, which will generate up to 900 megawatts, in 2027, with operations beginning in 2029.
Combined, the projects, dubbed Nordseecluster, will consist of 104 wind turbines that produce 6.5 terawatt hours of green electricity a year, RWE said.
The wind farms, which will be about 50 kilometers north of the island of Juist, will give the company eight wind farms off the German coast.
"This will contribute in particular to the decarbonization of industry in our home market," Chief Executive Sven Utermoehlen said.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
May 27, 2024 04:50 ET (08:50 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks