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Cooperation Agreed: RWE And Masdar to Develop Two Offshore Wind Projects in The UK With 3,000 MW

Essen, Germany - The renewable energy company Masdar from the United Arab Emirates (UAE) has signed an agreement with RWE to cooperate in the development of the British offshore wind projects "Dogger Bank South".

The two companies intend to work in partnership to drive forward the realisation of the projects on Dogger Bank. Completion of the transaction is subject to the usual regulatory approvals and is expected to take place in the first quarter of 2024, according to RWE.

Masdar will acquire a 49 percent stake in each of the offshore wind projects. RWE will be responsible for the development, construction and operation of both wind farms for the entire operating period with a future share of 51 percent. Masdar will reimburse RWE for 49 percent of the development costs incurred to date and co-develop the projects.

The two projects, known collectively as Dogger Bank South (DBS), are located on Dogger Bank, in shallow waters in the North Sea, more than 100 kilometres from the north-east coast of England. The two offshore wind farms each have a planned capacity of 1,500 MW (1.5 GW). Together, the two projects with a planned total installed capacity of 3,000 MW (3 GW) can supply up to 3 million British households with green electricity.

Masdar will partner with Dogger Bank South at a crucial stage of project development. Consultation with stakeholders and communities is to be completed before the permit applications are submitted, probably in the second quarter of 2024. Construction could begin as early as 2025. The first 800 megawatts (MW) of capacity are expected to be connected to the grid in 2029, with the aim of having both projects fully operational by the end of 2031.

RWE and Masdar have already been cooperating in the field of offshore wind energy for several years. Masdar has been a partner in the 630 MW London Array offshore wind farm off the coast of the UK since 2008. In addition, RWE and Masdar signed a letter of intent in September 2022 to explore cooperation on offshore wind projects in and outside Germany.

In January 2023, RWE entered into lease agreements for the two Dogger Bank South projects with The Crown Estate in the UK. Combined, the two wind farms are expected to make an important contribution to economic growth in the region and in the UK. During the construction phase, the wind farms are expected to create more than 2,000 jobs, as well as a further 1,000 direct and indirect jobs during operation, RWE points out the industrial economic effects of the two wind farms.

Source: IWR Online, 04 Dec 2023