Vattenfall has agreed with RWE to divest the Norfolk Offshore Wind Zone for an enterprise value of £963 million.
The Norfolk Zone, one of the world’s largest offshore wind developments, includes three fully consented wind farms with a total capacity of 4.2GW, providing electricity to four million British households.
The move allows Vattenfall to focus on fossil-free projects aligning with its portfolio and risk preferences.
The sale is pending regulatory approvals and is expected to conclude in the first quarter of 2024, with Vattenfall continuing to develop the projects until then.
