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RWE Wins Two Offshore Wind Leases In Germany

German utility RWE AG (RWEOY.PK) Friday said it was awarded two offshore wind leases with a total of 525 megawatts or MW in the by German offshore auction.

The German Federal Network Agency informed that RWE secured a lease (N-3.7) for an offshore wind farm with a potential capacity of 225 MW in the North Sea, as well as a second site in the Baltic Sea (O-1.3) with a potential capacity of 300 MW.

Regarding the Baltic Sea (O-1.3) lease, the company noted that a competitor holds so-called step-in-rights for the lease, and a final award decision may not be made until the beginning of November.

RWE and its partner Northland Power hold step-in-rights for another of auctioned sites, N-3.8 in the North Sea, which has a capacity of 433 MW.

The company intends to leverage synergies from its existing offshore wind farms in the delivery of both projects, which are scheduled to go into operation in 2026.

RWE operates five offshore wind farms off the German coast, while a further project - Kaskasi - is under construction.

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