By Stephen Nakrosis

RWE said it secured a lease area in the Gulf of Mexico to develop offshore wind energy as part of the U.S. Department of the Interior's initial Gulf of Mexico offshore wind lease auction.

The company said its $5.6 million bid secured the lease area, which has the capacity to develop up to 2 gigawatts of fixed-bottom offshore wind. The site is located 44 miles off the coast of Louisiana, with water depths of 10 to 25 meters.

RWE said the project is expected to be in operation by the mid-2030s.

Including the new lease area, RWE said, its offshore wind development portfolio now totals about 5.9 GW capacity. RWE set a goal to increase its offshore wind capacity to 8GW globally by 2030.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

August 29, 2023 13:05 ET (17:05 GMT)

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