RWE and Masdar have closed their transaction, flagged up in December, and will now go ahead with the delivery of two flagship projects under the name Dogger Bank South, DBS.
Located in shallow waters in the North Sea over 100 km from the east coast of England, DBS consists of two offshore wind projects with an estimated combined installed capacity of 3 GW. As such, it has the potential to make a major contribution to the delivery of net zero in the UK.
RWE, with a 51% stake, will lead development, construction and operation throughout the life cycle of DBS. Masdar has a 49% stake.
Masdar’s CEO, Mohamed Jameel Al Ramahi commented: “The addition of the Dogger Bank South project demonstrates our commitment to developing Masdar’s offshore wind capacity and expertise as an important component in our pursuit of the target of 100 GW renewable energy portfolio capacity by 2030.”
The next development milestone for the projects will be the submission of applications for Development Consent Orders, expected to be during the second quarter of 2024. If successful, the next steps would be to secure Contracts for Difference (CfD), followed by financing, construction and finally commissioning by 2031.
RWE already operates 10 offshore wind farms across the UK. Following completion of the acquisition of the three Norfolk offshore wind projects from Vattenfall announced at the end of 2023, RWE is developing nine offshore wind projects in the UK, representing a combined potential installed capacity of around 9.8 GW, with RWE’s pro rata share amounting to 7 GW. Furthermore, RWE is constructing the 1.4 GW Sofia offshore wind project in the North Sea off the UK’s east coast.
Image courtesy of RWE
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