Wedoany.com Report-May 18, RWE has confirmed that it will sell a stake in its 1.4GW Sofia offshore wind project, located off the east coast of England, in the coming year. The project, which is currently under construction and is expected to be commissioned next year, features 100 turbines. The decision to sell part of the project is part of RWE's broader strategy to reduce its capital exposure.

This move follows the sale of a 49% stake in the Nordseecluster and Thor developments, located off Germany and Denmark, to Norges Bank Investment Management last month. Additionally, RWE plans to sell a 50% stake in its 4.2GW Norfolk offshore wind zone, which includes the consented 1.4GW Vanguard East, Vanguard West, and Boreas projects.

RWE's CEO, Michael Muller, discussed the plan during a call with journalists on May 15, stating: “We intend to sell stakes in our Sofia offshore project next year.” He added, “This means we are implementing what we announced: we are realizing the value from our offshore projects at the optimal time and spreading the investments across several shoulders.”

This strategic move aligns with RWE’s goal of managing capital more effectively while continuing to develop its offshore wind initiatives.