RWE offers German companies ownership in its 1 GW offshore wind farm

RWE Commerzbank offshore wind mid-sized firms mittelstand

Photo: RWE


June 22, 2022






June 22, 2022





RWE and Commerzbank intend to establish a Green Mittelstand Fund to offer medium-sized industrial companies in Germany the opportunity to secure a supply of green electricity. “The idea is as innovative as it is reasonable,” the two companies said after signing a memorandum of understanding.

RWE and Commerzbank plan to construct an offshore wind farm with an installed capacity of around 1 gigawatt (GW) by applying for a seabed for the facility on auctions expected to take place in 2023. The German energy company will develop, build and operate the wind farm.

RWE plans to hold 51% of the shares while the remaining 49% are to be offered to interested medium-sized firms by Commerzbank via the Green Mittelstand Fund, they said.

Smaller companies will be offered two options to obtain green electricity

The firms will have two options. The fund will offer the signing of long-term power purchase agreements (PPAs), so far possible only for large companies. The plan is to start with a tranche corresponding to a capacity of 5 MW – tailored to the electricity needs of medium-sized entities.

The second opportunity is to participate directly in the planned offshore wind farm via individual financing and credit solutions for equity investments. According to RWE and Commerzbank, the two options can be combined.

Michael Kotzbauer, Member of the Board of Managing Directors at Commerzbank responsible for corporate clients, said that with the innovative solution, the bank wants in particular to give mid-sized firms access to green electricity production from offshore wind turbines and thus contribute to financing the energy transition in Germany.

German Wind Energy at Sea act must be amended to enable investments in offshore wind

The government plans to amend the German Wind Energy at Sea to increase the production of renewables and reach climate neutrality by 2045.

According to Ulf Kerstin, Chief Commercial Officer Offshore Wind of RWE, green electricity at competitive prices is the pledge of a sustainable industrial nation with a strong tradition of the ‘Mittelstand’.

RWE’s concept opens up great opportunities for this because it can support companies and the energy transition, he said and added that electricity from offshore can be offered at competitive prices.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Croatia launches auctions for premiums for large power plants

Croatia launches auctions for renewable energy utility-scale power plants

24 June 2022 - The deadline for submitting bids for the award of premiums is July 4, according to the public call published by HROTE

EP votes protect EU industry after CO2 border tax fully implemented

EP votes to protect EU industry even after CO2 border tax is fully implemented

23 June 2022 - MEPs want to maintain free emission allowances for industrial producers in the EU after the CO2 border tax is fully implemented in 2030

Italy s Cingolani Wholesale gas price cap necessary stop manipulation

Italy’s Cingolani: Wholesale gas price cap is necessary to stop manipulation

22 June 2022 - Italian Minister Roberto Cingolani said his country's proposal to limit wholesale gas prices in the EU is gaining support

RWE Commerzbank offshore wind mid-sized firms mittelstand

RWE offers German companies ownership in its 1 GW offshore wind farm

22 June 2022 - RWE and Commerzbank intend to establish a 'Green Mittelstand Fund' to offer med-sized firms to secure supply of green electricity