Masdar and RWE to co-develop 3 GW UK offshore wind projects

The agreement was signed on the sidelines of the UN’s climate change conference COP28, in the UAE. The £11 billion joint investment will provide a huge boost to the UK economy and demonstrates the UAE’s long-term commitment to supporting net-zero goals in Britain and around the world. It builds on the £10 billion UAE-UK Sovereign Investment Partnership (UK-UAE SIP) to invest in technology, infrastructure, and the energy transition.

The 3 GW DBS projects bring together global clean energy pioneers Masdar and RWE, a leading renewable energy company headquartered in Germany. The mega-facility is expected to generate enough energy to power 3 million typical UK homes. The projects are predicted to create 2000 jobs during construction and more than 1000 direct and indirect jobs during their operational phase.

Masdar CEO, Mohamed Jameel Al Ramahi, and the CEO of RWE, Dr Markus Krebber, signed the agreement at COP28 in Expo City Dubai, on 1 December 2023. Located over 100 km off the northeastern coast of England, the DBS offshore wind farms will be split across two sites, the DBS East Array, and the DBS West Array. Each site will have the capacity for 1.5 GW and span 500 km². Masdar will acquire a 49% stake in the landmark renewables project while RWE, with a 51% share, will remain in charge of development, construction, and operation throughout the lifecycle of the projects.

The construction phase could start as early as end 2025 and the first 800 MW of electricity is planned to come online in 2029. The DBS projects are expected to be fully commissioned by end of 2031.

HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President, said: “As one of the world’s largest offshore wind farms, the Dogger Bank South project will make a huge impact on reducing emissions while supplying millions of UK families and businesses with clean, affordable and secure energy. The world needs to triple renewable energy capacity and double energy efficiency by 2030 if we are to keep the Paris Agreement goal of limiting temperature rises to 1.5° within reach. At COP28, as we strive to form a unified plan to deliver the urgent course correction the planet needs, projects such as DBS show how nations, companies and communities can join forces to deliver powerful solutions. It also shows the deep bonds between the UK and UAE as exemplified by the UAE-UK Sovereign Investment Partnership, which was expanded to commit £10 billion investments in technology, infrastructure, and the energy transition during President Sheikh Mohamed bin Zayed Al Nayhan’s visit to Britain in 2021.”

Al Ramahi, added: “Masdar is very proud to be partnering with RWE to develop one of the world’s largest offshore wind farms. We are delighted to have come onboard at the early stages of this pioneering project, enabling us to leverage our shared passion and expertise in renewables. The UK is the world’s second largest offshore wind market and offers huge growth potential. Masdar has been active in the UK for more than a decade, developing world-class clean energy projects such as Dogger Bank South which demonstrate how innovation and collaboration can lead to a cleaner, greener future. As global leaders strive to form a unified and urgent plan to tackle the climate crisis at COP28, Masdar will continue to expand its wind energy portfolio as we target a total global capacity of 100 GW by 2030 in support of key climate goals.”

The deal demonstrates Masdar’s long-standing commitment to advancing offshore wind projects in the UK and Europe. A decade ago, Masdar, RWE and its partners launched the 630 MW London Array wind farm, the world’s largest at the time. Today’s investment in the 3 GW DBS projects – almost five times as big as London Array – shows Masdar’s steadfast expansion into the exciting offshore wind sector. Masdar has also invested in the 30 MW Hywind project, which was the world’s first floating offshore wind farm, and the 402 MW Dudgeon offshore wind farm. In July, Masdar invested in the 476 MW Baltic Eagle offshore wind farm set to power 475 000 homes. The company’s Global Offshore Wind division is based in London and Masdar is pursuing a strategy of investing and developing projects at the early stages to further strengthen its expertise as an offshore wind developer.

Markus Krebber, CEO RWE AG, commented: “We’re delighted to welcome Masdar onboard as our partner and co-investor in the delivery of our Dogger Bank South projects which, at 3 GW in size, make up RWE’s largest offshore wind development in the UK. With Masdar, we have a strong and renowned partner at our side who shares our ambition to further drive the growth of offshore wind energy. In combination with RWE's many years of experience in the development, construction, and operation of offshore wind farms, we are in an excellent position to strongly support the decarbonisation of the UK.”

Offshore wind energy could generate 380 GW by 2030, provided investment is increased and permitting protocols are accelerated, according to the International Renewable Energy Agency. With the UK and Europe setting ambitious legally binding net-zero goals, Masdar will continue to harness opportunities to develop the region’s burgeoning wind energy sector.

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