RWE npower will review its 拢3.5bn wind energy portfolio and may seek new project partners
Energy giant RWE npower has launched a review of its 拢3.5bn wind farm portfolio, following concerns over the cost of the schemes, according to reports.
The firm has asked banks, including RBS and Citigroup, to seek a mandate to find new partners for the projects, the Sunday Times said.
The schemes in question include the 拢2.2bn Gwint y Mor development off the Welsh coast, which is the world's second-largest proposed wind farm and won planning approval this month. The firm is looking for partners to buy a stake of up to 49% in the scheme.
The news follows similar moves from other energy companies operating in the offshore wind market. Centrica is looking for partners for its 拢3bn worth of projects and Royal Dutch Shell has withdrawn from the UK market altogether.
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