RWE and Commerzbank to build 1GW offshore wind plant for first-ever power to 'Mittelstand'

Germany utility RWE and compatriot financial giant Commerzbank have inked a lead-off deal that aims to build a 1GW offshore wind farm to supply mid-size industrial players with clean power production.

The Green Mittelstand Fund – believed to be the first-ever financial pool targeting small and medium-size enterprises (SMEs) – would make it possible for SMEs to either take an equity stake in a wind-at-sea project or secure a long-term power purchase agreement (PPA) as part of their decarbonisation strategies.