Equinor and EnBW to cooperate on German offshore wind power

(Reuters) - Norway's Equinor and German energy group EnBW plan to jointly develop offshore wind farms in Germany, the two companies announced on Friday.

Germany, which seeks to cut its reliance on fossil fuel, in November raised its national renewable energy target to 80% of power generation by 2030, and aims to accelerate onshore wind installations to over 12 gigawatt (GW) per year by 2025.

"We are delighted to be working together with a strong partner like Equinor and combining the individual strengths of the two companies to develop German offshore wind," said Michael Class, EnBW's head of renewables portfolio development.

Germany's Bundesnetzagentur regulator plans to hold auctions in June and August this year offering energy companies a chance to bid for acreage to build a combined 8.8 GW of offshore wind capacity.

Equinor, Europe's largest gas supplier, operates and develops offshore wind farms in, among others, Germany, Britain, Poland and Norway, giving it a strong presence in the North Sea and Baltic region.

EnBW plans for installed renewable energy capacity to account for 50 percent of its generating portfolio by the end of 2025.

(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)