In a monumental move toward advancing the UK’s clean energy initiatives, RWE, a major player in renewable energy, has forged a strategic partnership with Masdar, a renowned clean energy powerhouse. This collaboration signifies a significant milestone in the development of the Dogger Bank South (DBS) offshore wind projects located in the North Sea, over 100 km from England’s east coast.
During the formal ceremony at COP28 in Dubai, both entities solidified their commitment to sustainable energy by sealing an agreement. Under this partnership, Masdar will secure a 49 percent stake in the DBS projects, while RWE, retaining a 51 percent share, will spearhead the development, construction, and operation phases. The move marks a pivotal moment in the journey toward net-zero emissions, with DBS poised to generate 3 gigawatts (GW) of clean electricity upon completion—enough to power approximately 3 million homes in the UK.
DBS, comprising two 1.5 GW offshore wind projects, stands as RWE’s largest offshore wind endeavor in the UK. With Masdar joining the venture at a critical stage, both partners aim to finalize Development Consent Orders by Q2 2024, potentially commencing construction by 2025. The initial 800 megawatts (MW) could be operational as early as 2029, targeting full commissioning by late 2031.
Markus Krebber, CEO of RWE AG, expressed enthusiasm for the partnership, citing Masdar as a formidable ally sharing RWE’s commitment to offshore wind expansion. This collaboration merges RWE’s extensive experience with Masdar’s expertise, bolstering the drive towards a cleaner energy landscape in the UK.
Masdar’s CEO, Mohamed Jameel Al Ramahi, echoed the sentiment, emphasizing the significance of this collaboration within the UK’s burgeoning offshore wind market. He highlighted Masdar’s dedication to expanding its global wind energy capacity, aligning with critical climate goals set forth at COP28.
The partnership’s impact transcends energy generation, offering substantial economic benefits. The DBS projects are expected to create over 2,000 full-time equivalent jobs during construction and an additional 1,000 direct and indirect roles during operations, contributing significantly to the region’s growth.
RWE’s involvement in DBS is part of its comprehensive pipeline of six UK offshore wind projects, totaling approximately 5.6 GW in potential installed capacity. Concurrently, RWE progresses with the construction of the 1.4 GW Sofia Offshore Wind project, emphasizing its pivotal role in driving the UK toward a net-zero future.
Masdar’s investment in the monumental 3 GW DBS projects showcases its unwavering commitment to pioneering offshore wind ventures in the UK and Europe. Alongside prior investments in groundbreaking projects like the Hywind and Baltic Eagle offshore wind farms, Masdar’s Global Offshore Wind division, headquartered in London, continues its trajectory of strategic investments and developmental endeavors in the offshore wind sector.
The partnership between RWE and Masdar not only signifies a significant step toward the UK’s renewable energy goals but also underscores the collective dedication of industry leaders in accelerating the global transition toward sustainable energy sources.