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RWE and Norges Bank Investment Management (NBIM) have completed the €1.4 billion transaction announced in March 2025. As part of the deal, NBIM has acquired a 49 percent equity stake in two major offshore wind projects: Nordseecluster in Germany and the Thor wind farm in Denmark. RWE retains a 51 percent stake and remains responsible for construction and operations of both projects throughout their lifecycle.
The Nordseecluster is located approximately 50 kilometers north of the island of Juist in the German North Sea and will be developed in two phases. The first phase, Nordseecluster A, will have a capacity of 660 megawatts and is scheduled for full commissioning in 2027. The second phase, Nordseecluster B, will add 900 megawatts and is expected to be fully operational by 2029. Together, the two phases will provide enough renewable electricity to supply the equivalent of 1.6 million German households.
The Thor offshore wind farm is located about 22 kilometers off the west coast of Jutland, Denmark. With a capacity of 1,080 megawatts, it is the largest offshore wind project in Denmark to date and is expected to be fully commissioned in 2027. Once operational, it will generate enough electricity to power more than one million Danish homes.
Construction activities are progressing on schedule for both projects. At the Thor site, installation of the monopile foundations has commenced. For Nordseecluster A, the first foundations have been delivered and are currently stored at the marshalling port in Eemshaven, with offshore installation set to begin in the summer of 2025. Installation of wind turbines for both projects is scheduled to take place in 2026.
