Germany's RWE, Munich Airport partner on 10-year offshore wind deal

German energy company RWE announced on Tuesday that it has entered into a 10-year contract with Munich Airport to supply energy from offshore wind.

The power purchase agreement will procure offshore wind power from RWE's Nordseecluster A wind farm in the North Sea, RWE said. The wind farm is expected to begin operations in early 2027.

Under the agreement, the airport will receive 40 gigawatt hours of electricity per year, equivalent to about 40 million kilowatt hours.

The electricity will be supplied from RWE's Nordseecluster A offshore wind farm, which has a total capacity of 660 megawatts and is currently under construction in the North Sea, about 50 kilometres north of the island of Juist.

The agreement is expected to help Munich Airport reduce carbon dioxide emissions by about 13,000 metric tons annually.

RWE is currently trading 2.48% higher at €54.62 ($63.57) on the XETRA.