RWE Wants CfDs for German Offshore Wind

Vera Eckert and Christoph Steit
Thursday, August 13, 2020

German utility RWE supports the introduction of contracts for difference (CfDs) to spur growth in the country's offshore wind sector, chief finance office Markus Krebber said during a call with reporters on Thursday.

Germany's upper house of parliament backs such an internationally proven mechanism, which guarantees qualifying projects a guaranteed strike price at which they can sell electricity while allowing renewable power investors to bid for CfD in auctions.

The economy ministry currently holds on to zero-price bid auctions for new capacity, which could imply investors would pay on top to win the permit should there be many initial bidders at zero.

"That will not work," Krebber said.

(Reporting by Vera Eckert and Christoph Steitz; editing by Thomas Seythal)

Watch the recording of World Energy Report's Offshore Wind Webinar "Outlook for Offshore Wind Power: The Frontier of Future Energy."

Categories: Energy Industry News Offshore Wind Activity Europe Germany

Related Stories

Losing Control? Norway's Oil workers Fear for Future as Platforms Go Remote

Turkey Raises Size Estimate of Giant Black Sea Gas Find

PDVSA Plans to Offload Oil from Tilting FSO Offshore Venezuela

Current News

Maersk Drilling's Drillship to Drill More Wells for Total in Angola

Cadeler Nets Hornsea 2 Offshore Wind Farm Installation Gig

Equinor Bids for Two Wind Projects off US East Coast

Tanker Approaches Listing FSO Nabarima to Load Crude

Subscribe for OE Digital E‑News