German utility RWE has signed an agreement with Abu Dhabi-based renewable energy company Masdar to co-develop 3 GW Dogger Bank South offshore wind projects offshore UK, capable of powering up to 3m homes.
The partners acknowledged signing the new partnership during a ceremony at COP28 in Dubai. Masdar will acquire a 49% stake in the projects as part of the deal, while RWE, with a 51% share, will remain in charge of development, construction and operation throughout their life cycle.
Dogger Bank South consists of two offshore wind projects, each 1.5 GW. Construction could start in 2025, with first power of around 800 MW by 2029 and full capacity by late 2031, RWE said. During construction, the projects are expected to support more than 2,000 full-time equivalent jobs, and a further 1,000 direct and indirect jobs during operations.
In September 2022, RWE and Masdar signed a memorandum of understanding to explore collaborations on offshore wind projects both in and outside Germany. Since 2008, Masdar has been a partner in RWE’s 630 MW London Array which, at the time of entering operation, became the world’s largest offshore wind farm. Today’s investment in the 3 GW DBS projects – almost five times as big as the London Array is part of Masdar’s plans to inject £11bn into the UK’s renewables sector.
