German energy company RWE said on Wednesday it plans to sell a stake in its 1.4-gigawatt (GW) Sofia offshore wind project in the UK next year, as part of its strategy to optimise capital deployment across its offshore wind portfolio.
The Sofia project, located off the east coast of England, is currently under construction and is expected to be commissioned in 2026. The project will consist of 100 wind turbines.
“We intend to sell stakes in our Sofia offshore project next year,” RWE CEO Michael Müller told journalists on a call. “This means we are implementing what we announced: we are realising the value from our offshore projects at the optimal time and spreading the investments across several shoulders.”
The announcement follows RWE’s recent divestment of a 49% stake in its Nordseecluster and Thor offshore wind developments in Germany and Denmark to Norges Bank Investment Management.
RWE also plans to divest a 50% stake in its 4.2GW Norfolk offshore wind zone, which includes the consented 1.4GW Vanguard East, Vanguard West, and Boreas projects.
The company said the sale of minority stakes in major projects is part of its broader approach to recycle capital while retaining operational control and continuing to grow its renewable energy pipeline.
