Germany’s power producer RWE is reportedly close to strike deal with three potential investors for the construction of the $2bn Galloper wind power plant off the Suffolk coast of UK.
Bloomberg cited two people familiar with the matter as saying that the potential partners include Germany’s Siemens AG and UK’s Green Investment Bank.
Siemens and Green Investment Bank declined to comment.
RWE subsidiary Innogy CEO Hans Buenting was reported by Reuters as saying that the financing deal between RWE and the three undisclosed investors is expected to be signed either October or November.
Upon signing the deal, RWE’s stake in the project will reduce from current 37.5% to 25%.
The wind farm was initially planned to be developed in a joint venture between RWE and SSE but SSE sold its stake after a review of offshore wind development portfolio.
RWE spokeswoman Judith Erb said that the company is seeking a final investment decision for the project by as early as October in order to share the costs with the partners.
The 336MW Galloper wind power plant, which will be built and operated by RWE will feature 56 wind turbines.