Masdar Joins with RWE in £11 billion Investment to Co-develop 3GW Wind Projects in UK

Masdar Joins with RWE in £11 billion Investment to Co-develop 3GW Wind Projects in UK

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 ...

The post Masdar Joins with RWE in £11 billion Investment to Co-develop 3GW Wind Projects in UK appeared first on SaudiGulf Projects.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 builds on the £10 billion UAE-UK Sovereign Investment Partnership (UK-UAE SIP) to invest in technology, infrastructure and the energy transition.

The