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Finance

Masdar joins forces with RWE for massive UK offshore wind project

Masdar has completed its acquisition of a 49% shareholding in the 3GW Dogger Bank South (DBS) project.

Teaming up with RWE, the joint £11 billion venture is expected to inject significant economic growth into the UK.

Situated more than 100 kilometres off the northeastern coast of England, the DBS offshore wind farm will span two sites, DBS East and DBS West, each boasting a capacity of 1.5GW and covering a total area of 500 square kilometres.

It is anticipated to generate enough electricity to power three million UK households and is projected to create 2,000 jobs during construction and over 1,000 direct and indirect jobs during the operational phase.

Markus Krebber, Chief Executive Officer of RWE, said: “Together with Masdar, we aim to deliver 3GW of new offshore wind capacity and make a significant contribution to the decarbonisation of the UK’s energy system.”

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