The German energy group RWE’s renewable affiliate Innogy has made a final investment decision (FID) on the 342 MW Kaskasi offshore wind project, located 56 km north of the German island of Heligoland. The project will include 38 Siemens Gamesa Renewable Energy wind turbines rated nearly 9 MW each. Innogy has already signed contracts worth more than €500m for the project. Construction is expected to start in the third quarter of 2021, and the project is scheduled for commissioning in the summer of 2022.
RWE plans to invest €5bn to expand its renewable capacity by 2022, including €1bn in Germany. Thanks to an asset swap with E.ON in March 2018, RWE acquired a 9 GW solar and wind portfolio. RWE now intends to increase its wind and solar portfolio by 4 GW between 2020 and 2023, of which 2.7 GW is already under construction. In addition, more than 20 GW of projects are in the pipeline. In October 2019, RWE presented its strategy to become carbon neutral by 2040, intending to reduce its CO2 emissions by 70% within the next decade and to invest massively in renewable energies (more than €1.5bn/year in solar, wind and energy storage technologies, with an option to €2-3bn/year thanks to project partnerships).
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