RWE, Masdar to co-develop 3-GW Dogger Bank South offshore windfarms

Masdar will acquire a 49% stake in the UK projects while RWE, with a 51% share, will remain in charge of development, construction and operation throughout the life cycle of the projects. Masdar will reimburse RWE for 49% of development expenditure incurred to date and will co-develop the project.

Located in shallow water in the North Sea more than 100 km from the east coast of England, DBS consists of two offshore wind projects, each of 1.5 GW. 

Masdar joins DBS at a key stage in the projects’ development, as they approach the end of consultation with stakeholders and communities ahead of submitting development consent orders in Q2 2024.

Construction could start as early as 2025, with the first 800 MW of electricity expected to come online in 2029 with the aim to fully commission the projects by late 2031.

RWE and Masdar are already partners in offshore wind. In September 2022, they signed a memorandum of understanding to explore collaborations on offshore wind projects in and outside Germany. Since 2008, Masdar has been a partner in the 630-MW London Array which, at the time of entering operation, became the world’s largest offshore windfarm.

RWE entered into agreements for lease for the DBS projects with The Crown Estate in January 2023.

Closing of the transaction is subject to customary approvals and expected for the first quarter 2024.