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Our activities in the field of renewable energies have been pooled under the newly established RWE Innogy since February 1, 2008. Our goal is to more than triple our renewable generation base to 4.5 GW by 2012. But growth is not our only top priority–adding value is of special importance. RWE Innogy currently has at its disposal a generation capacity of 1.2 GW. A further 450 MW Glossary are under construction. In addition, we are developing projects accounting for approximately 12 GW. Our activities focus on wind power, but we also made progress in power generation from biomass.
We recorded the strongest growth in offshore wind capacity. The generation capacity of projects under construction or in operation was more than doubled to 400 MW and we have a 7.2 GW project pipeline. Our objective is to be one of Europe’s three largest offshore wind farm operators by 2013. In the UK, we are in the process of building the Rhyl Flats wind farm with an installed capacity of 90 MW off the coast of Wales. We intend to commission it in 2009. In addition, RWE Innogy acquired a 50 % stake in the Greater Gabbard wind farm off the South Eastern coast of England. On completion in 2011, the wind farm will have an installed capacity of 509 MW Glossary. The partner companies RWE Innogy and Scottish and Southern Energy will invest a total of £1.3 billion (excluding grid connections). Onshore work is almost finished. We will start working at sea in the summer of 2009. At the end of 2008, we received clearance for the construction of the Gwynt y Môr wind farm off the Welsh coast, which will have an installed capacity of 750 MW. Full commissioning is forecast for 2014. In Germany, RWE Innogy acquired the rights in the North Sea Windpower 3 offshore wind farm (renamed Innogy Nordsee 1). Its envisaged 960 MW make it the largest planned offshore wind farm off the coast of Germany. We expect to obtain the construction permit by the end of 2009. The project’s overall investment budget amounts to about €2.8 billion.
We also made significant progress in the field of onshore wind. By acquiring wind power operator Urvasco Energía in the summer of 2008, RWE Innogy increased its Spanish onshore generation capacity by 150 MW. We will develop wind and biomass projects in Italy with Fri-El Green Power, a developer and operator of power stations fuelled by renewable sources. A joint venture called Fri-El, in which we hold a 50% stake, was established for this purpose. The joint venture already has a sizeable project portfolio in the field of wind energy. RWE Innogy’s share in it is 985 MW. We have set the course for the construction and operation of new onshore wind turbines in Poland, Hungary and the Czech Republic.
We expanded our biomass activities by acquiring UK-based Helius Energy Alpha Ltd., among other things. Helius owns the rights for the development and operation of a 65-MW biomass power station in Lincolnshire (East Midlands), the construction of which is scheduled to begin in 2009. RWE Innogy intends to invest approximately €260 million in the project. The facility will be fuelled with wood residuals.
