Norges Bank Investment Management (NBIM) has signed a €1.4bn agreement to acquire a 49% stake in RWE's 1.6 GW Nordseecluster offshore wind project in Germany and in the 1.1 GW Thor offshore wind park in Denmark. Both projects are under construction by RWE and the German group will remain responsible for construction and operations throughout the lifecycle of the offshore wind projects. The closing of the transaction is expected by the third quarter of 2025, once it obtains all relevant approvals.
The 1.6 GW Nordseecluster project in Germany is being developed in two phases, with the first 660 MW Nordseecluster A phase scheduled to start operations in 2027. The second phase (Nordseecluster B) should add 900 MW and be commissioned in 2029.
The 1,080 MW Thor offshore wind project in Denmark consists of 72 Siemens Gamesa’s SG 14-236 DD wind turbines, of which 40 will feature recyclable blades, is located at approximately 22 km off the west of Jutland and is scheduled to be fully commissioned in 2027.
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