RWE successful in German offshore wind auction

• Two offshore wind leases with a total of 525 megawatts awarded
• RWE operates five offshore wind farms off the German coast; a further project – Kaskasi – is under construction

RWE is pleased with its double success in the German offshore auction: As announced by the German Federal Network Agency today, the Essen-based energy company was awarded two offshore wind sites. In the North Sea, RWE was able to secure a lease (N-3.7) for an offshore wind farm with a potential capacity of 225 megawatts (MW). A second site in the Baltic Sea (O-1.3) with a potential capacity of 300 MW, was also awarded to RWE. The company intends to leverage synergies from its existing offshore wind farms in the delivery of both projects, which are scheduled to go into operation in 2026.

A competitor of RWE holds so-called step-in-rights for the lease in the Baltic Sea (O-1.3). As a result, a final award decision may not be made until the beginning of November. RWE and its partner Northland Power hold step-in-rights for another of today’s auctioned sites, N-3.8 in the North Sea, which has a capacity of 433 MW.

RWE is one of the leading renewable energy companies and number 2 worldwide in offshore wind. In the German North Sea, RWE already operates four offshore wind farms, with a further project – the 342 MW Kaskasi offshore wind farm – under construction. The German RWE portfolio also includes Arkona, which, with an installed capacity of 385 MW (RWE share 50%), is one of the largest offshore wind farms in the Baltic Sea.

Forward-looking statements

This press release contains forward-looking statements. These statements reflect the current views, expectations and assumptions of management, and are based on information currently available to management. Forward-looking statements do not guarantee the occurrence of future results and developments and are subject to known and unknown risks and uncertainties. Actual future results and developments may deviate materially from the expectations and assumptions expressed in this document due to various factors. These factors primarily include changes in the general economic and competitive environment. Furthermore, developments on financial markets and changes in currency exchange rates as well as changes in national and international laws, in particular in respect of fiscal regulation, and other factors influence the company’s future results and developments. Neither the company nor any of its affiliates undertakes to update the statements contained in this press release.