RWE
About
A German energy group whose transformation began with the asset swap with E.ON, completed in 2020, which brought E.ON's renewable energy business and the renewables operations of its former subsidiary innogy into RWE in exchange for its innogy stake; RWE still holds 15% of E.ON. It reports in five segments (Offshore Wind, Onshore Wind/Solar, Flexible Generation, Supply & Trading and Phaseout Technologies) and calls the first four its core business. The fifth holds its Rhenish lignite operations, which it is winding down under Germany's coal phaseout, and the dismantling of its decommissioned German nuclear plants. Offshore wind therefore sits inside a diversified generation and trading house, beside a gas-fired fleet and a trading business.
Outlook
as of 2026-10Portfolio
39 held + 2 exited · live stages first, exits lastCapacity is net of ownership stake: a 50% JV counts half. Gross exposure (full nameplate of every project held): 24.7 GW. Some stakes are undisclosed, so net GW is a floor.
| Project | Country | Stage | MW | Stake | Net MW |
|---|---|---|---|---|---|
| Triton Knoll↓ farmed down | United Kingdom | Operational | 857 | 59% | 506 |
| Kaskasi | Germany | Operational | 342 | 100% | 342 |
| Amrumbank West | Germany | Operational | 302 | 100% | 302 |
| Nordsee Ost | Germany | Operational | 295 | 100% | 295 |
| Gwynt y Mor↓ farmed down | United Kingdom | Operational | 576 | 50% | 288 |
| Greater Gabbard | United Kingdom | Operational | 504 | 50% | 252 |
| Rampion | United Kingdom | Operational | 400 | 50.1% | 200 |
| Arkona | Germany | Operational | 385 | 50% | 193 |
| London Array | United Kingdom | Operational | 630 | 30% | 189 |
| Robin Rigg | United Kingdom | Operational | 174 | 100% | 174 |
| Humber Gateway↓ farmed down | United Kingdom | Operational | 219 | 51% | 112 |
| Galloper↓ farmed down | United Kingdom | Operational | 353 | 25% | 88 |
| C-Power | Belgium | Operational | 325 | 26.7% | 87 |
| Scroby Sands | United Kingdom | Operational | 58 | 100% | 58 |
| Nordsee One↓ farmed down | Germany | Operational | 332 | 15% | 50 |
| Rhyl Flats↓ farmed down | United Kingdom | Operational | 90 | 50.1% | 45 |
| Rodsand 2 | Denmark | Operational | 207 | 20% | 41 |
| alpha ventus↓ farmed down | Germany | Operational | 60 | 26.2% | 16 |
| TetraSpar Demonstrator | Norway | Operational | 4 | — | — |
| Sofia Offshore Wind Farm | United Kingdom | Under Construction | 1400 | 100% | 1400 |
| Thor↓ farmed down | Denmark | Under Construction | 1080 | 51% | 551 |
| OranjeWind (Hollandse Kust West Site VII)↓ farmed down | Netherlands | Under Construction | 795 | 50% | 398 |
| Nordseecluster A↓ farmed down | Germany | Under Construction | 660 | 51% | 337 |
| Norfolk Vanguard East↓ farmed down | United Kingdom | Advanced Development | 1380 | 100% | 1380 |
| Norfolk Vanguard West↓ farmed down | United Kingdom | Advanced Development | 1380 | 100% | 1380 |
| Norfolk Boreas | United Kingdom | Advanced Development | 1380 | 100% | 1380 |
| Dogger Bank South East | United Kingdom | Advanced Development | 1500 | 51% | 765 |
| Dogger Bank South West | United Kingdom | Advanced Development | 1500 | 51% | 765 |
| Rampion 2 | United Kingdom | Advanced Development | 1200 | 50.1% | 601 |
| Awel y Môr | United Kingdom | Advanced Development | 775 | 60% | 465 |
| Nordseecluster B↓ farmed down | Germany | Advanced Development | 900 | 51% | 459 |
| Dunkirk (Dunkerque) | France | Advanced Development | 600 | 30% | 180 |
| N-9.1 | Germany | Early Development | 2000 | 50% | 1000 |
| N-9.2 | Germany | Early Development | 2000 | 50% | 1000 |
| Community Offshore Wind | United States | Cancelled | 2800 | 100% | 2800 |
| Södra Victoria Offshore Wind (Sweden) | Sweden | Cancelled | 2000 | 100% | 2000 |
| Gulf of America Offshore Wind | United States | Cancelled | 2000 | 100% | 2000 |
| Canopy Offshore Wind | United States | Cancelled | 1600 | 100% | 1600 |
| Atlantic Array | United Kingdom | Cancelled | 1200 | 100% | 1200 |
| Five Estuaries | United Kingdom | Divested 2026-10 | 1080 | 33.33% sold | — |
| F.E.W. Baltic II | Poland | Divested 2025-11 | 350 | 100% sold | — |
Divested & farmed down
every recorded sale by this developer · newest first| Announced | Project / portfolio | Type | Stake sold | €m | Buyer |
|---|---|---|---|---|---|
| 2026-10-08 | Five Estuaries | acquisition | 33.33% | — | EDF power solutions UK and Ireland |
| 2026-10 | alpha ventus | acquisition | 100% joint | — | Ocean Breeze Energy (Macquarie) |
| 2026-01 | Norfolk Vanguard East | farmdown | 50% | — | KKR |
| 2026-01 | Norfolk Vanguard West | farmdown | 50% | — | KKR |
| 2025-11 | F.E.W. Baltic II | acquisition | 100% | — | PGE |
| 2025-03 | Thor | farmdown | 49% | — | NBIM |
| 2025-03 | Nordseecluster A | farmdown | 49% | — | NBIM |
| 2025-03 | Nordseecluster B | farmdown | 49% | — | NBIM |
| 2024-07 | OranjeWind (Hollandse Kust West Site VII) | farmdown | 50% | — | TotalEnergies |
| 2020-11 | Humber Gateway | farmdown | 49% | 726 | Schroders Greencoat |
| 2018-08 | Triton Knoll | farmdown | 25% | — | J-Power |
| 2018-08 | Triton Knoll | farmdown | 16% | — | Kansai Electric Power |
| 2015-10 | Galloper | farmdown | 75% | — | Green Investment Group (UK Green Investment Bank) / Macquarie Capital / Siemens Financial Services |
| 2015-02 | Triton Knoll | farmdown | 50% | — | Statkraft |
| 2014-09 | Nordsee One | acquisition | 85% | — | Northland Power |
| 2014-03 | Gwynt y Mor | farmdown | 10% | 228 | UK Green Investment Bank |
| 2013-03 | Rhyl Flats | farmdown | 24.95% | 67 | Green Investment Group |
| 2013-02 | Rhyl Flats | farmdown | 24.95% | — | Greencoat UK Wind |
Ownership history comes from the transaction database; the portfolio above is the current snapshot only. "Joint" stakes are the consortium total (per-seller split not disclosed) and are excluded from the stake-weighted GW figure.
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