RWE selling jack-up vessel duo

The Friedrich Ernestine is up for sale

The Friedrich Ernestine is up for sale

RWE Innogy is in the process of selling its two offshore wind installation vessels – the Friedrich Ernestine and Victoria Mathias – reflecting changes in the market and parent company RWE’s financial challenges.

Both vessels – costing €100m ($137m) each – were delivered last year from Daewoo shipyard in South Korea, and are among the few jack-up barges in operation capable of lifting 6MW turbines.

The move comes amid a significant belt-tightening programme at Germany's RWE, whose pain is being shared by Innogy, its renewables division. RWE, like many European utilities, faces huge financial challenges amid a fast-changing EU power market.

Innogy is in the process of divesting its large-biomass business, and intends to lower its stakes in future offshore wind projects.

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