RWE Awarded with CfD for a Portfolio of 218 MW Solar Photovoltaic and Onshore Wind Projects in the Latest Autction in the United Kingdom

/Swindon/Essen, September 3, 2024, 9:30 BST, RWE/  RWE, the UK’s leading power producer, has been awarded Contracts for Difference (CfD) for five of its renewable energy projects in the latest Allocation Round 6 (AR6). The CfD awards have been made to RWE by the Low Carbon Contracts Company, on behalf of the UK Government, following successful bids for two onshore and three solar PV projects (see table below). The inflation-indexed strike price for RWE’s onshore projects was £50.9/MWh and for solar £50.07/MWh (based on 2012 prices).

The RWE projects together account for 218 megawatts (MW) of new UK renewable electricity generation capacity, capable of powering hundreds of thousands of homes, supporting local supply chains and jobs, and making an important contribution to the UK’s ambitions for clean power and security of supply. RWE intends to maintain the pace of investment with an ambition to invest up to €8 billion net from 2024 to 2030 in new UK clean energy infrastructure which, this year alone, has seen the ongoing construction of its flagship 1.4 GW Sofia Offshore Wind farm, three onshore wind farms in Scotland and seven solar PV projects in England, of which three are co-located with batteries.

RWE is the leading power generator in the UK, supplying the equivalent of around 12 million typical UK homes each year with power. It operates a diverse portfolio including gas, onshore wind, offshore wind, hydro and biomass with a combined operational capacity of over 10 GW (RWE pro rata share)/12 GW (total installed capacity). In addition, the company has a strong pipeline, and is planning to scale-up from the current portfolio of 32 operational onshore wind farms (735 MW, pro rata share) with a further ~170 MW in construction and ~2 GW in development. The company is also currently constructing seven solar PV projects comprising 330 MW in total, of which three are co-located with batteries, with a further 4.4 GW of solar PV under development.

In the UK RWE also has nine offshore wind farms in development, and one in construction – Sofia. At 1.4 GW, Sofia is RWE’s largest offshore wind farm to date and, once operational in 2026, will generate enough power for approximately 1.2 million homes. In total, RWE’s offshore wind development pipeline amounts to 7.0 GW pro rata share (9.8 GW total installed capacity) thus making it a critical partner in helping the Government achieve its target of deploying 60 GW of offshore wind capacity by 2030.

Complementing its renewables pipeline, RWE has more than 3.7 GW of battery storage under development, and is in the early stages of developing four gas carbon capture and storage (CCS) projects across the UK, totaling up to 4.6 GW.

About RWE

With massive investments in green technologies, RWE is making a significant contribution to the success of the energy transition and the decarbonisation of the energy system. While the company continues to grow sustainably and profitably, it is consistently reducing its greenhouse gas emissions - in line with the 1.5-degree reduction pathway. RWE  already reduced its CO2 emissions by half since 2012 and are phasing out coal-fired power generation completely by 2030. The company's goal is clearly defined: RWE will be net zero by 2040.

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