Masdar joins forces with RWE in £11bln investment to co-develop massive 3GW offshore wind projects in UK

Masdar joins forces with RWE in £11bln investment to co-develop massive 3GW offshore wind projects in UK

One of world’s largest offshore wind development projects, DBS is set to power up to 3 million British homes, boost the UK economy and create thousands of jobs

Deal signed during COP28 in UAE shows commitment of Masdar, whose Chairman is also COP28 President, to invest in accelerating net zero in UK and Europe by harnessing region’s huge offshore wind potential

Expo City, Dubai: Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, is part of an £11billion investment into the UK’s renewable energy sector and is purchasing a 49 percent stake in RWE’s 3 gigawatt (GW) Dogger Bank South (DBS) projects - which form one of the world’s largest planned offshore wind farms. DBS is capable of powering millions of British homes, reducing emissions and creating up to 3,000 jobs. Closing of the transaction is subject to customary approvals and expected in the first quarter of 2024.

The agreement was signed on the sidelines of the UN’s climate change conference COP28, in the UAE. The £11billion 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