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October 28, 2019

RWE Renewables acquires 1.5GW offshore wind projects in Poland

RWE Renewables has acquired a pipeline of up to four offshore wind projects in Poland with a total generation capacity of more than 1.5GW.

RWE Renewables has acquired a pipeline of up to four offshore wind projects in Poland with a total generation capacity of more than 1.5GW.

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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.
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Located around the Slupsk bank area in the central Polish Baltic Sea, the four projects are currently at various stages of development. Construction works at these sites are expected to commence by 2023.

The acquisition will enable RWE Renewables to foray into the Polish renewable energy market and expand its offshore operations across Europe.

RWE Renewables CEO Anja-Isabel Dotzenrath said: “As one of the world’s leading renewable energy companies RWE sees great potential for offshore wind parks on the central Polish Baltic Sea.

“Our strategy is to develop the projects, build them and drive the growth of offshore wind energy in Poland with our operations forward.”

The company acquired the shares in the project companies from private owners and developers for an undisclosed sum. RWE intends to develop, build and operate these projects.

RWE Renewables Europe Offshore & New Markets COO Sven Utermöhlen said: “Poland is a very attractive emerging market for offshore wind, and one with the best-untapped potential in Europe.

“RWE is keen to enter it early and leverage our global offshore capabilities and strong local presence, to help to build a strong Offshore Wind sector in Poland.”

The agreement is part of RWE’s plan to become one of the world’s leading renewable energy companies following the sale of innogy to E.ON in September 2019.

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Free Report
img

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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