RWE, the German energy developer headed by Markus Krebber, has opted to withdraw from its partnership with TotalEnergies for the 1.5GW N-11.2 offshore wind lease awarded in the latest German auction. The decision was based on RWE's assessment that the bid levels did not meet its criteria for economically viable investments.
According to an RWE spokesperson speaking to reNEWS, “We were part of the bidding consortium but we are now withdrawing from the alliance at short notice.”
See also: RWE and Masdar Apply for Approval of 3GW Dogger Bank South Wind Farm in UK
The lease for area 1.5GW N-11.2 was secured by the partners' joint venture, Offshore Wind One, with a bid value of €1.3 million per megawatt, amounting to nearly €2 billion. Despite RWE's withdrawal, TotalEnergies plans to proceed independently with the project.
The spokesperson further clarified RWE's strategic focus, stating, “In Germany, we are focusing on realizing our 1.6-gigawatt Nordseecluster project, for which we have already made a Final Investment Decision (FID).” Additionally, RWE emphasized that no lease payments are required for their Nordseecluster sites to the German Federal Network Agency (Bundesnetzagentur).
See also: RWE Inaugurates Largest Onshore Wind Farm in France
This development highlights the dynamics within the offshore wind sector in Germany, reflecting differing investment strategies among key industry participants.
