RWE, the German energy giant, has announced it is halting its offshore wind business in the United States. The decision comes despite a successful 2024 for RWE, in which the company posted strong financial results and expanded its renewable portfolio by 2 gigawatts.
In 2024, RWE produced a record 50 million megawatt-hours of energy from renewable sources, and made progress in building offshore wind farms such as Sofia in the UK and Thor in Denmark. The company also highlighted partnerships with Masdar, TotalEnergies and the Norwegian Wealth Fund to optimize high capital expenditures on offshore wind farms.
However, despite its global commitment to offshore wind power, RWE has decided to withdraw from the US market. This information was contained in a speech by RWE CEO Dr. Markus Krebber, to be delivered at RWE AG’s Annual General Meeting on April 30, 2025, and published on April 25, 2025.
Dr. Krebber noted that RWE has “halted offshore activities” in the US for the time being, adding that the company has introduced “higher requirements for future investments in the US.” He also stressed that RWE will enforce higher standards for future investments. This underscores the challenges facing energy companies in the United States as they attempt to develop large-scale renewable energy projects.
At the same time, RWE is investing heavily in offshore wind development in Europe, particularly in the North Sea. The company stresses that it is seeking further expansion of its offshore wind portfolio in the region.
Source: RWE
