RWE and NBIM Complete Offshore Wind Transaction
June 4, 2025
RWE and Norges Bank Investment Management (NBIM) have closed the transaction, where NBIM acquired 49% equity stake in RWE’s 1.6 GW Nordseecluster and 1.1 GW Thor offshore wind projects.
As part of the transaction, first announced in March and valued at approximately $1.6 billion, RWE remains in charge of construction and operations throughout the lifecycle of these offshore wind farms, retaining a 51% stake in the project.
The Nordseecluster, located approximately 50 km north of the island of Juist, is being built in two phases.
The first phase includes Nordseecluster A with 660 MW, with full commissioning is planned for 2027. The second phase is the Nordseecluster B with 900 MW, with full commissioning 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 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.
