RWE achieved significant progress in offshore wind in 2024, with 3.3 GW currently in operation and 4.4 GW under construction. Key projects like the UK’s Sofia wind farm and Denmark’s Thor are on track, while investments have also been secured for the Nordseecluster in Germany and OranjeWind in the Netherlands, supported by strategic partnerships with Masdar, TotalEnergies, and Norway’s sovereign wealth fund.
However, despite strong fundamentals in Europe, RWE has decided to pause its offshore wind activities in the USA. Political uncertainties, higher risks for US offshore wind projects, and increased return expectations have led the company to take a more cautious approach in this market. While onshore wind, solar, and battery projects continue to develop rapidly in the US offshore investments are being reconsidered. RWE now requires stricter conditions before proceeding with further investments in US projects, including secured tax credits, federal permits, and offtake agreements, to mitigate political and tariff risks.
