RWE and Commerzbank plan to create a ‘Green Mittelstand Fund’ to give medium-sized industrial companies in Germany access to green electricity generated by offshore wind plants. The two companies have signed a Memorandum of Understanding (MoU) to this effect.
The medium-sized companies are offered two options as part of this fund: On the one hand, they can participate directly in the planned offshore wind farm with equity. On the other hand, they can secure long-term green electricity via a PPA. Both options can also be combined. The planned wind farm is to have an installed capacity of around 1GW. The companies want to apply for a seabed for the wind farm within the framework of future tenders, in accordance with the planned amendment to the German Wind Energy at Sea act. These auctions are expected to take place in 2023. RWE plans to hold 51 percent of the shares in the wind farm, the remaining 49 percent are to be offered to interested medium-sized companies by Commerzbank via the ‘Green Mittelstand Fund’. RWE will develop, build and operate the wind farm.