Energy

RWE successful in New York Bight offshore lease auction in the U.S.

RWE Renewables, one of the globally leading companies in offshore wind announced its success in the New York Bight offshore lease auction in the U.S. Through the joint venture 'Bight Wind LLC', RWE secured area OCS-A 0539 with a winning bid of $1.1 billion. The awarded seabed has the potential to host 3 gigawatts (MW) of capacity, enough to power 1.1 million U.S. homes. The project is expected to be in operation toward the end of the decade.

The auction consisted of six leases, a record in the U.S. for the most leases available in a single auction. Under the auction, format bidders were limited to winning one lease area only. A winning bid provides the rights to develop the lease area and to participate in upcoming New York state offtake auctions, the first of which is expected later this year.

Sven Utermöhlen, CEO Offshore Wind of RWE Renewables: "Winning a lease in the New York auction is a significant move for us as it marks RWE's entry into the U.S. offshore wind market, one of our key strategic markets. Our success in this auction means an important step on the road to tripling our offshore wind capacity to 8 gigawatts by 2030, as part of our 'Growing Green' growth and investment programme. Now we're looking forward to developing our first offshore wind project in the U.S. and to contribute to the region's offshore build-out targets."

We are thrilled to be joining the U.S. offshore wind industry. This is an important first step to building our long-term offshore wind business in the U.S. I look forward to working with our great team, our partners and vendors, and the local communities to support the region's climate goals by producing affordable, clean energy while creating good local jobs and private investment in New York and New Jersey."

Sam Eaton, RWE Senior Vice President, Offshore Development Americas

The next step for RWE to fully meet requirements is to engage in community outreach with local tribes, the fishing industry and other ocean users; engage with the domestic supply chain to create new local jobs and private investments; and also enter into project labour agreements to pay laborers at prevailing wage rates.

Offshore wind will be critical for the U.S., particularly in the Northeast, to reduce the region's carbon emissions and meet climate goals, including New York state's target of bringing 9,000 MW of offshore wind online by 2035 and New Jersey's target of delivering 7,500 MWs of offshore wind by 2035. Importantly, the region's clean energy goals will also deliver significant new jobs and private investment to support the growth of the region's economy.

RWE is one of the world's leading companies in offshore wind, active across the entire value chain, from project conception and development to construction as well as operation and maintenance. The unparalleled expertise the company has earned over the last 20 years has resulted in 17 wind farms in operation. The company recently finished successfully the installation of all turbines of the 857 MW offshore wind farm Triton Knoll off the English Coast. Two more projects, the 342 MW project Kaskasi, off the German island Heligoland, and the 1.4 GW project Sofia, one of the largest offshore wind farms in the world, are currently under construction.

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Greenwood Sustainable Infrastructure (GSI)-Led Joint Initiative with Ocean Man First Nation to Build One of the Largest Solar Projects in Canada

PR Newswire | January 25, 2024

Greenwood Sustainable Infrastructure LLC (GSI), one of the renewable energy subsidiaries of Libra Group, announced that Iyuhána Solar (Iyuhána), a GSI-led partnership with Saturn Power Inc. and Ocean Man First Nation, has been awarded a Power Purchase Agreement (PPA) to construct and operate a 100-megawatt (MWac) utility-scale solar facility in Saskatchewan, Canada. Developed in partnership with Ocean Man First Nation, the project will be one of Canada's top 10 solar facilities by size. Under an exclusive PPA, the largest with a utility in Canada since 2015, Iyuhána plans to invest approximately $200 million (CDN) to construct the solar facility, which it will operate, supplying generated power to the principal municipal utility company, SaskPower, for 25 years. Located in the Rural Municipality of Estevan in southeast Saskatchewan, this emissions-free solar facility will produce enough power for the equivalent of approximately 25,000 homes. "We are proud to bring the transformative power of solar energy to Saskatchewan by working with partners such as Ocean Man First Nation," said Mazen Turk, CEO of GSI. "This unique collaboration shows the power of renewable energy to harness resources and empower communities responsibly. This work is core to our ethos as a Libra company, and we look forward to continuing to help support a clean energy future across Canada and beyond." As a founding partner, Ocean Man First Nation will have an ownership stake in Iyuhána Solar. Band members will also receive specialized training to maintain the solar facilities and employment opportunities with the project. Additionally, partnering with two of Saskatchewan's leading post-secondary academic institutions, Iyuhána will provide scholarships, internships, and direct research projects in clean energy to benefit the community. "Our partnership with GSI and SaskPower will bring great opportunities for Ocean Man First Nation, including employment and revenue that will provide stability and sustainability for our Band," said Chief Connie Big Eagle, Ocean Man First Nation. "We are proud that this project, which is able to generate clean power, will be known as Iyuhána Solar, which, in Nakotah translates to 'everyone' or 'all of us.' This is derived from our Nakotah belief that everyone and everything is related and therefore we must care for each other." While investment in renewable energy grows across Canada, Saskatchewan's clean power supply mix has predominantly consisted of hydro and wind. This is the first of many planned solar projects in the province; by 2035, SaskPower plans to support approximately 3000 MW of new renewable energy capacity in the region. "This new solar facility will play an important role in our path to net-zero by 2050 or sooner," said Rupen Pandya, SaskPower President and CEO. "We are proud of our ongoing collaboration with Indigenous peoples and the critical role they are playing in the successful expansion of renewable energy in our province." GSI is one of four renewable energy subsidiaries of Libra Group, a privately owned, global business group that encompasses 20 businesses in six sectors, including renewable energy, maritime, aerospace and more. The Group's renewable energy portfolio encompasses approximately 3.5 gigawatts (GW) of projects owned, developed, or pending development in 10 countries, including solar, wind, battery storage, and waste-to energy projects. This is the second partnership with an indigenous community led by a Libra Group subsidiary. "Libra Group is proud of this novel partnership, which has come together through shared values and a commitment to driving economic growth and positive outcomes for communities," said Libra Group's CEO Manos Kouligkas. "Sustainability is core to our global business, and we look forward to continuing to leverage synergies across our six sectors in 60 countries with agility and impact." Last year, GSI acquired Saturn Power Inc.'s solar and battery development portfolios, including its team of seasoned developers and an approximate 1.4-gigawatt (GW) pipeline of early- to late-stage solar and energy storage projects. Today, GSI has a footprint across Canada and in 12 U.S. states. About Greenwood Sustainable Infrastructure Greenwood Sustainable Infrastructure (GSI) is one of the clean energy subsidiaries of Libra Group. GSI is a renewable energy company focused on the development, construction, and operation of distributed generation and utility-scale solar energy and battery storage projects in North America. As of January 2024, the company developed approximately 388 MW DC across 71 renewable energy projects, many of which are still owned or operated by GSI and have an additional project pipeline of 1.6 GW. GSI's seasoned team has a proven track record of investing in power assets and partnering with multiple top-tiered investors. For more information on Greenwood Sustainable Infrastructure (GSI), visit: http://www.greenwoodinfra.com/ About Ocean Man First Nation The Ocean Man First Nation is a Nakota, Cree, and Saulteaux Band Government in southeast Saskatchewan. OMFN is led by Chief Connie Big Eagle & Council and features a population of 565 members. Ocean Man First Nation created a renewable energy company in 2019 called Second Wind Power. The name Second Wind Power reflects Ocean Man First Nation's history of relocating, re-establishing and starting over as a new community since 1989. About Libra Group Libra Group is a privately owned, global business group encompassing 20 businesses predominately focused on aerospace, renewable energy, maritime, real estate, hospitality, and diversified investments. With assets and operations in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross-sector insights and growth at scale.

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