Weekly renewables M&A round-up (May 16-20)
May 20, 2022 17:01 CESTNovember 29 (Renewables Now) - German energy major RWE AG (ETR:RWE) today said it has inked a pact to develop up to 1.5 GW of floating offshore wind projects off the coast of South Korea’s Ulsan City.
The Essen-based company has signed a Memorandum of Understanding (MoU) with the Ulsan Metropolitan City regarding the scheme. RWE’s local team will work with local stakeholders, respective authorities and supply chain partners, while the City of Ulsan will provide its government relationships and local network to support the German firm, especially during the planning and permitting phase, the announcement says.
Now, consultations will be held with relevant authorities, associations and the local community. Then, a feasibility study will be carried out to define the plan of developing, constructing and operating the wind farms.
“South Korea’s excellent wind resource in combination with deep waters close to energy demand poses a great opportunity for floating wind,” said Sven Utermohlen, CEO Wind Offshore of RWE Renewables.
At present, the German firm operates 17 offshore wind parks. Its goal is to triple its offshore wind turbine capacity globally from 2.4 GW now to 8 GW by 2030.
Weekly renewables M&A round-up (May 16-20)
May 20, 2022 17:01 CESTGerman association calls for accelerated hydrogen ramp-up
May 20, 2022 16:20 CESTGermany's PNE to place EUR-50m corporate bond
May 20, 2022 16:05 CESTBlueFloat, Falck unveil 975-MW floating wind project off Sardinia
May 20, 2022 14:24 CESTRomania’s Simtel Team swings to net profit in Q1
May 20, 2022 13:41 CESTPure Hydrogen, Advik to set up hydrogen supply JV in India
May 20, 2022 13:32 CEST