RWE has recently reviewed the development status of the Galloper offshore wind farm as a ROC accredited project. Despite positive investor interest, including that of the Green Investment Bank, and support from the project's supply chain partners RWE has stated that it is disappointed to announce the decision not to continue with the development of Galloper in its current form.
This decision reflects the tight time scales available to secure financing whilst still achieving accreditation under the Renewable Obligation, which overall results in an unacceptable balance of risk and reward as compared with the investment disciplines embraced by the RWE Group.
Following this decision, RWE will discuss the next steps for the Galloper project with its existing partner SSE.
Offshore wind continues to be a key part of RWE’s renewable energy strategy. Its offshore operating portfolio will exceed 1GW following completion of Nordsee Ost and Gwynt y Môr.
It will continue to progress development activities at our other offshore projects across Europe, including Triton Knoll and Dogger Bank in the UK.
In addition, it has recently entered into a partnership to progress Nordsee One in Germany, which is planned to enter construction next year.
