Offshore staff
DUBAI, UAE — RWE and Masdar have signed an agreement to collaborate in the Dogger Bank South offshore wind developments in the UK southern North Sea.
Closing of the transaction should follow in first-quarter 2024, pending approvals.
Masdar will take a 49% stake in the projects. RWE, with a 51% share, will remain operator of the development, construction and operations phases, with Masdar reimbursing RWE for 49% of development expenses incurred to date.
Dogger Bank South will be located in shallow waters more than 100 km from the Yorkshire coast. Both projects will have a capacity of 1.5 GW.
Currently, consultations with stakeholders and local community representatives are nearing completion ahead of submitting development consent orders, most likely in second-quarter 2024.
Construction could begin in 2025, followed by production of first power in 2029, and full commissioning of the two projects by late 2031.
12.05.2023
