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March 15, 2021

RWE acquires controlling stake in British offshore wind farm Rampion

German energy company RWE has acquired the controlling stake in the Rampion offshore wind farm from British energy supplier E.On.

By Umesh Ellichipuram

German energy company RWE has acquired the controlling stake in the Rampion offshore wind farm from British energy supplier E.On.

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The 20% acquisition by RWE brings its stake in the 400MW wind farm to 50.1%.

Fully commissioned in April 2018, Rampion lies 13km off the coast of Sussex, in the English Channel. RWE Renewables operates Rampion, after buying its original 30.1% stake in 2019.

A Macquarie-led consortium owns 25% of the remaining stake in Rampion, with Canadian energy company Enbridge holding 24.9%.

In a statement, an RWE spokesperson said: “The UK provides great opportunity for renewables growth with significant ramp-up potential. This means the UK will play an important role in RWE’s strategy to grow its renewables business.

“The company is currently constructing the offshore wind farm Triton Knoll which is expected to be fully commissioned in early 2022.”

Completion of the deal will take place in the first half of this year. The companies have not disclosed the financial details of the deal.

In another development, RWE has partnered with UK research centre Offshore Renewable Energy Catapult (OREC). The companies will study the potential of Scottish businesses to produce commercial-scale concrete foundations for floating wind projects.

RWE Renewables floating wind head Chris Willow said: “Floating wind could play an important part of the growth in offshore wind and has the potential to unlock new offshore wind markets around the world. RWE is progressing innovation in this growing sector as one of the world’s leading renewable companies.

“Concrete floating foundations have the potential to support Scottish projects and create local supply chain content, building on the country’s engineering legacy for a new generation of Scottish engineers.”

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Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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