RWE, a leading energy company, has finalized the acquisition of three offshore wind projects in the United Kingdom from Vattenfall.
The three projects, namely Norfolk Vanguard West, Norfolk Vanguard East, and Norfolk Boreas, each boasting a planned capacity of 1.4 gigawatts (GW), are strategically located 50 to 80 kilometers off the coast of Norfolk in East Anglia. These projects have already secured essential permits, including seabed rights, grid connections, and Development Consent Orders, positioning them for further advancement.
Additionally, RWE is set to integrate the majority of Vattenfall’s Norfolk team into its workforce as part of the transaction. The commissioning of all three Norfolk projects is anticipated to take place within the current decade.
Sven Utermohlen, CEO of RWE Offshore Wind, expressed his enthusiasm about the acquisition, acknowledging the exemplary work done by the Norfolk team in developing these offshore wind projects over the past 13 years. He underscored the importance of their expertise in advancing projects in one of the world’s most promising regions for offshore wind energy.
The Norfolk Vanguard West and Norfolk Vanguard East projects are at a more advanced stage, having already secured key components procurement. The next critical milestone for these projects is to secure a Contract for Difference (CfD) in upcoming auctions.
Meanwhile, RWE plans to resume the development of the Norfolk Boreas project, which had previously been halted, with a focus on securing preferred supplier agreements for key components.
The United Kingdom holds significant importance in RWE’s offshore wind portfolio growth strategy. The company is committed to supporting the UK’s Net Zero ambitions and energy security objectives, as well as contributing to the country’s offshore wind build-out target of 50 GW by 2030. With the addition of the three Norfolk projects, RWE has nine offshore wind projects under development in the UK, representing a combined potential installed capacity of around 9.8 GW.
Moreover, RWE is actively involved in the construction of the Sofia offshore wind project, with a capacity of 1.4 GW, situated in the North Sea off the UK’s east coast. The company’s extensive track record spanning over two decades in offshore wind underscores its commitment to triple its global offshore wind capacity from 3.3 GW to 10 GW by 2030, further solidifying its position as a key player in the renewable energy transition.
GreentechLead.com News Desk