The German energy group RWE has signed a partnership agreement with the UAE's renewable project developer Masdar for its two Dogger Bank South (DBS) offshore wind development projects located in the North Sea over 100 km from the east coast of England (United Kingdom). According to the agreement, Masdar will invest £11bn (€12.8bn) to acquire a 49% stake in the DBS projects, with RWE will retain 51% of the shares and will remain in charge of development, construction and operation throughout the life cycle of the projects. To this effect, Masdar should also reimburse 49% of the development expenditures incurred to date to RWE and will co-develop the project. The DBS consists of two offshore wind projects, each 1.5 GW in size, that should enter construction as early as 2025, with the first 800 MW scheduled to start operating by 2029 and full commissioning expected by late 2031.
The United Kingdom has an electricity capacity of 106 GW (end of 2022; +5 GW since 2020), with gas accounting for 33%, wind for 27%, solar PV for 14%, biomass for 8%, nuclear for 8%, coal for 6%, hydro for 4%, and oil for 1%. The share of carbon free capacity is 60%. The government targets to develop 50 GW of offshore wind capacity, which should include up to 5 GW of floating offshore wind parks, by 2030 (13.8 GW of offshore wind as of end-2022).
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