Masdar has completed its acquisition of a 49 percent shareholding in RWE’s 3 GW Dogger Bank South project. This is part of a planned £11 billion investment in UK’s renewables sector. It builds on the £10 billion UAE-UK Sovereign Investment Partnership to invest in technology, infrastructure and the energy transition. RWE, which will have a 51 percent stake in the project will be in charge of development, construction and operation of the projects throughout its lifecycle.
Furthermore, the project is located over 100 kilometres off the northeastern coast of England. This DBS offshore wind farm will be split across two sites, DBS East Array and DBS West Array, each with a capacity of 1.5 GW and spanning 500 square kilometres. Project will power three million homes and create thousands of jobs during construction and operational phases.
The project’s construction is expected to begin by the end of 2025. The first 800 MW of the massive offshore wind farm will come online in 2029 and the project is expected to be fully commissioned by the end of 2031.
In February 2024, DEWA and Masdar reached financial closing on the 1,800 MW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The solar park’s capacity will exceed 5,000 MW by 2030, with investments totalling approximately $13.61 billion.
