RWE moves closer to $2bn British wind power park deal

RWE Innogy anticipates that it will have sewn up a $2bn (£1.3bn) deal to finance the Galloper offshore win Hans Buenting d park project by November.

"The plan is to have a deal in autumn, either October or November," Hans Buenting, chief executive of RWE's renewables unit Innogy told Reuters, adding it was planning a cooperation with three partners, whom he said he was not authorised to name.

The deal would allow for RWE to hold a 25 percent stake in the 336 MW project, located 17 miles off the coast of Suffolk in eastern England.

It would represent a positive turnaround for the German utility after its initial partner for Galloper, SSE dropped out of the project in a bid to cut costs.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...