RWE has secured planning permission from the the German Federal Maritime and Hydrographic Agency (BSH) for the 342MW Kaskasi offshore wind farm.

To be built 35km north of the island of Heligoland, the offshore wind farm will comprise of a total of 38 wind turbines.

To be installed on monopile foundations, each turbine will have an installed capacity of up to 9MW.

Kaskasi is said to be the first offshore wind farm in Germany receiving planning permission under the new wind at sea law.

The permit allows the testing of innovative technologies at the pilot wind turbines of the project.

Offshore work on the Kaskasi wind farm is expected to begin in the third quarter of 2021.

Upon entering into full commercial operations in the fourth quarter of 2022, the wind farm will be able to supply the equivalent of around 400,000 households per year with green electricity.

RWE Renewables wind offshore global chief operating officer Sven Utermöhlen said: “We naturally have a special connection to our home market Germany. In the period from 2020 to the end of 2022, we will be investing around one billion euros net in expanding renewables in Germany.

“A large part of that will be allocated to our Kaskasi offshore wind farm. I’m delighted that the BSH has now given the green light by granting planning permission to build our sixth wind farm off the German coast.”

Kaskasi is RWE’s sixth wind farm off German coast

Kaskasi is RWE’s sixth wind farm off the German coast, where it operates 295MW Nordsee Ost, 302MW Amrumbank West and 385MW Arkona.

Recently, the company has agreed to sell 51% stake in four onshore wind facilities in Texas, US to a subsidiary of Algonquin Power & Utilities for $600m.

The sale of the stake accounts for a total pro-rata installed capacity of 439MW. This translates to an implied enterprise value multiple of $1.4 million/MW.