Wednesday 20 January 2016

RWE halts £1bn UK onshore wind plans

RWE halts £1bn UK onshore wind plans

RWE’s £1 billion worth of planned onshore wind farms in the UK have either been scrapped or put on hold as a result of government policy.

Its renewable arm Innogy has halted 12 wind projects in Scotland and Wales, representing around £800 million of investment.

In addition, it cancelled nine wind projects in England with a potential investment value of around £250 million.

The company said work on the 12 onshore wind projects will resume “when it has been confirmed that a route to market, via a Contract for Difference or something similar, is in place”.

The news comes as the government confirmed it would end onshore wind support.

Hans Bünting, CEO of RWE Innogy said: “We will maintain our current successful course and examine the technologies and regions in which we can grow. Unlike in the past, however, we will not be setting ourselves targets measured in installed megawatts. After all, the primary focus is return on investment.

“Overall, we see four major pillars for further growth: increasing shares in projects, organic growth in onshore and offshore wind, entry into new markets and expanding the portfolio to include large PV projects.”

It added the UK remains a “very important market” and is currently constructing two onshore wind farms in England and planning to start building an additional four this year. The company also plans to enter new markets and focus on the Middle East, North Africa and Turkey.

Last month RWE said it would sell part of its renewable subsidiary in Germany.

Written by

Bruna Pinhoni

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