RWE has signed an agreement with Greencoat to sell a 49% stake in the UK offshore wind farm Humber Gateway for a total cash consideration payable at completion being GBP 648 million.
The disposal is part of RWE’s capital rotation program and the proceeds will be used to finance further growth in the renewable energy business. Greencoat is a UK-based investment manager whose funds invest in operating UK wind farms and other renewable projects. With an installed capacity of 219MW, Humber Gateway is located in the UK, off the coast of East Yorkshire. The wind farm was commissioned in 2015. With a 51% share in the project, RWE will remain the majority shareholder in the project and the wind farm will continue to be operated by RWE. Closing of the transaction is subject to the approval of the Supervisory Board of RWE AG and is expected by mid-December 2020.
