ETR - Entergy RWE partner to evaluate Gulf of Meixco offshore wind

2023-03-30 11:57:13 ET

Entergy ( NYSE: ETR ) said Thursday it signed a memorandum of understanding with German utility REW ( OTCPK:RWEOY ) to partner in analyzing the Gulf of Mexico offshore wind market to evaluate the delivery of clean energy to industrial customers in Texas and Louisiana.

Under the MoU, the companies agree to assess five areas to define an optimal route-to-market, including market demand for carbon-free energy for customers of Entergy Louisiana, Entergy New Orleans and Entergy Texas.

"The existing Gulf of Mexico oil and gas supply chain, workforce, and port infrastructure represent unique advantages to a potential offshore wind hub," RWE Offshore Holdings ( OTCPK:RWEOY ) CEO said Sam Eaton said.

Entergy ( ETR ) recently reported Q4 adjusted earnings of $0.51/share .

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