WALTHAM, Mass. and AUSTIN, Texas, May 20, 2021 /PRNewswire/ — National Grid (NYSE: NGG), one of the world’s largest publicly listed utilities, and RWE Renewables (RWE), one of the world’s leading renewable energy companies, today announced the signing of a partnership agreement to jointly develop offshore wind projects in the coastal region of the Northeast U.S. With this agreement, National Grid Ventures, the non-regulated division of National Grid, and RWE will be working together to explore opportunities in the Northeast U.S. offshore wind market. This includes an intention to jointly bid in the upcoming New York Bight seabed lease auction.
Both companies share a common goal of enabling the clean energy future, and offshore wind will be critical for the U.S., particularly in the Northeast, to reduce emissions, meet climate goals and create local jobs. This partnership brings together two leading energy companies to help drive forward the emerging offshore wind industry in the U.S. and help bring critical economic development to communities across the Northeast.
“We’re very pleased to partner with RWE as we take our first steps towards developing offshore wind projects in the Northeast U.S.,” said Cordi O’Hara, President of National Grid Ventures. “This partnership further solidifies National Grid’s role in advancing a clean, fair and affordable energy future and will also complement our growing onshore renewables business, which includes a strong pipeline of solar, wind and battery storage projects across the country.”
National Grid and RWE will bring complementary capabilities and expertise to this partnership. National Grid will bring local expertise in the Northeast along with its experience developing large-scale infrastructure projects, including industry-leading subsea cable capabilities from its portfolio of interconnectors that facilitate the transfer of renewable energy between the UK and Europe. RWE will bring its wealth of experience in global offshore wind project development across the entire value chain, from project conception to construction and operation. The unparalleled experience the company has earned over the last 20 years has resulted in 20 successful projects, ranking RWE in the top tier of the global offshore wind market.