Masdar and RWE has signed a Memorandum of Understanding (MoU) to jointly invest in both new and already-existing battery energy storage system (BESS) projects in Germany. Masdar will explore investing in already-existing BESS projects owned by RWE with a total capacity of up to 1 GW by 2030. Both companies will also cooperate on developing new storage projects of up to 1 GW total capacity by 2035. These projects are meant to help ensuring a stable, affordable, and secure power supply while supporting the expansion of renewable energy, in a context of growing demand for reliable power from new data centers.
RWE and Masdar have a longstanding partnership since 2008, having partnered, among other things, on wind projects, such as the 1.5 GW Dogger Bank South offshore wind projects in the United Kingdom.