RWE npower will review its £3.5bn wind energy portfolio and may seek new project partners
Energy giant RWE npower has launched a review of its £3.5bn wind farm portfolio, following concerns over the cost of the schemes, according to reports.
The firm has asked banks, including RBS and Citigroup, to seek a mandate to find new partners for the projects, the Sunday Times said.
The schemes in question include the £2.2bn Gwint y Mor development off the Welsh coast, which is the world's second-largest proposed wind farm and won planning approval this month. The firm is looking for partners to buy a stake of up to 49% in the scheme.
The news follows similar moves from other energy companies operating in the offshore wind market. Centrica is looking for partners for its £3bn worth of projects and Royal Dutch Shell has withdrawn from the UK market altogether.