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RWE close to deal for $2 bln UK Galloper wind park

Reuters - UK Focus

FRANKFURT, Aug 28 (Reuters) - Germany's RWE (Xetra: 703712 - news) is close to striking a financing deal for its planned 1.3 billion pound ($2 billion) Galloper offshore wind park project, according to one of its executives, as the utility's expansion in renewable energies gathers pace.

"The plan is to have a deal in autumn, either October or November," Hans Buenting, chief executive of RWE's renewables unit Innogy told Reuters, adding it was planning a cooperation with three partners.

RWE was dealt a blow last year when its initial partner for Galloper, British utility SSE (LSE: SSE.L - news) , dropped out of the project in a bid to cut costs. ($1 = 0.6484 pounds) (Reporting by Christoph Steitz; Editing by Georgina Prodhan)