RWE Acquires Assets of Nordex in France, Spain, Sweden & Poland
comprises a development pipeline of in total 2.7 Gigawatts in France, Spain, Sweden and Poland. With the acquisition, RWE strengthens its development platform in France with an overall pipeline of 1.9 GW in various project phases. 15% of the pipeline projects are close to final investment decisions or in late development stages; approx. 230 megawatts have secured Contracts for Difference or other feed-in tariffs. The two companies agreed on the sale at the end of July. The purchase price was around €400 million.
RWE Renewables now has a strong development base in France, with more than 70 employees from Nordex joining the company, based mostly in France. At RWE Renewables, they will develop further projects and work on executing RWE’s project pipeline: The acquisition represents a strategic pipeline enhancement for RWE and adds to its existing 22 GW development pipeline.