WALTHAM, Mass. and AUSTIN, Texas, May 20, 2021 /PRNewswire/ -- National Grid (NYSE: NGG), one of the world's largest publicly listed utilities, and RWE Renewables (RWE), one of the world's leading renewable energy companies, today announced the signing of a partnership agreement to jointly develop offshore wind projects in the coastal region of the Northeast U.S. With this agreement, National Grid Ventures, the non-regulated division of National Grid, and RWE will be working together to explore opportunities in the Northeast U.S. offshore wind market. This includes an intention to jointly bid in the upcoming New York Bight seabed lease auction.
Both companies share a common goal of enabling the clean energy future, and offshore wind will be critical for the U.S., particularly in the Northeast, to reduce emissions, meet climate goals and create local jobs. This partnership brings together two leading energy companies to help drive forward the emerging offshore wind industry in the U.S. and help bring critical economic development to communities across the Northeast.
"We're very pleased to partner with RWE as we take our first steps towards developing offshore wind projects in the Northeast U.S.," said Cordi O'Hara, President of National Grid Ventures. "This partnership further solidifies National Grid's role in advancing a clean, fair and affordable energy future and will also complement our growing onshore renewables business, which includes a strong pipeline of solar, wind and battery storage projects across the country."
National Grid and RWE will bring complementary capabilities and expertise to this partnership. National Grid will bring local expertise in the Northeast along with its experience developing large-scale infrastructure projects, including industry-leading subsea cable capabilities from its portfolio of interconnectors that facilitate the transfer of renewable energy between the UK and Europe. RWE will bring its wealth of experience in global offshore wind project development across the entire value chain, from project conception to construction and operation. The unparalleled experience the company has earned over the last 20 years has resulted in 20 successful projects, ranking RWE in the top tier of the global offshore wind market.
"Our partnership with National Grid represents an exciting milestone for RWE as we further grow our renewable energy business in the U.S.," said Sven Utermöhlen, Chief Operating Officer, Offshore Wind Global for RWE Renewables. "While we are an established presence in the U.S. with our onshore wind, solar and storage activities, this partnership will support RWE's plans to realize a sizeable position in the offshore wind space. We look forward to working with National Grid to advance the clean energy transition in the U.S."
RWE is a leader in the field of renewables and is among the top offshore wind companies globally. The company has a robust pipeline of offshore and onshore wind, solar and energy storage projects throughout the Americas, Europe and Asia-Pacific.
For more information about National Grid Ventures, please visit www.nationalgrid.com/ventures.
For more information about RWE Renewables, please visit www.group.rwe/en/the-group/organisational-structure/rwe-renewables.
About National Grid Ventures
National Grid Ventures (NGV) is the non-regulated division of National Grid plc, one of the largest investor-owned energy companies in the world. NGV operates outside of National Grid's regulated businesses in the US and UK where it develops, operates and invests in energy projects, technologies and partnerships to accelerate the development of a clean energy future.
NGV's diverse portfolio of low carbon and renewable energy businesses across the UK, Europe and US includes sub-sea electricity interconnectors, liquefied natural gas, battery energy storage, wind and solar power. For more information, visit www.nationalgrid.com/ventures.
About RWE Renewables
RWE Renewables is one of the world's leading renewable energy companies. With around 3,500 employees, the company has onshore and offshore wind farms, photovoltaic plants and battery storage facilities with a combined capacity of approximately 9 gigawatts. RWE Renewables is driving the expansion of renewable energy in more than 15 countries on four continents. From 2020 until 2022, RWE Renewables targets to invest €5 billion net in renewable energy and to grow its renewables portfolio to 13 gigawatts of net capacity. Beyond this, the company plans to further grow in wind and solar power. The focus is on the Americas, the core markets in Europe and the Asia-Pacific region.
SOURCE National Grid and RWE