Posted: 3 months ago
Northland and RWE Renewables have established two special purpose companies, Nordsee Two GmbH and Nordsee Three GmbH, for the development of the two projects.
Northland holds an 85 per cent share in the companies, and RWE Renewables controls the remaining 15 per cent.
Nordsee Two GmbH and Nordsee Three GmbH were allocated step-in rights for their respective project areas, labelled N-3.8 and N-3.5.
This means that the developers can step-in based on the lowest bid of any other bidder in the public auctions for these areas and acquire the right to construct and operate the projects, Northland Power said.