RWE and Masdar have collaborated for the Dogger Bank South (DBS) offshore wind development projects, with a total capacity of 3GW.
The announcement, made during COP28, outlines Masdar’s acquisition of a 49% stake in the projects, while RWE retains a 51% share and maintains responsibility for the overall development, construction and operation.
Located in the North Sea, over 100 kilometres from England’s east coast, the DBS projects consist of two offshore wind ventures, each with a 1.5GW capacity.
The closing of the transaction is contingent on customary approvals and is expected to occur in the first quarter of 2024.
Masdar’s Chief Executive Officer Mohamed Jameel Al Ramahi said: “The UK is the world’s second largest offshore wind market and offers huge growth potential.”
