Norway’s Norges Bank Investment Management (NBIM) has finalised the acquisition of a 49% equity stake in RWE’s 1.6 GW Nordseecluster offshore wind project in Germany and 1.1 GW Thor offshore wind project off Denmark. The purchase price of the transaction is evaluated at approximately €1.4bn. RWE, which retains a 51% stake, remains in charge of construction and operations throughout the lifecycle of these offshore wind parks.
Nordseecluster, located approximately 50 km north of the island of Juist, is being built in two phases: Nordseecluster A, with 660 MW and a full commissioning planned for 2027, and Nordseecluster B, with 900 MW, and full commissioning scheduled for 2029. In total, Nordseecluster will be generating enough electricity to supply the equivalent of 1.6 million German households.
The Thor wind project is Denmark’s largest offshore wind project 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.
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