Energy

RWE to Sell 49% Stake in Two Offshore Farms to Norway Fund

RWE’s Thor wind project. — RWE’s Thor wind project.
Source: RWE AG

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By Eva Brendel and Kari Lundgren

March 31, 2025 at 6:21 AM UTC

Updated on

March 31, 2025 at 1:38 PM UTC

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RWE AG said Norway’s sovereign wealth fund will acquire a 49% stake in two North Sea wind projects as the German energy company seeks to reduce exposure to risky renewables investments.

Norges Bank Investment Management will buy into RWE’s Nordseecluster and Thor projects for about €1.4 billion ($1.5 billion), according to a statement. The transaction is subject to customary approvals and is expected to be completed by the beginning of the third quarter.