UAE’s Masdar invests £11B in UK offshore wind farm

Abu Dhabi Future Energy Company PJSC – Masdar, a prominent clean energy entity based in the UAE, has finalized its purchase of a 49 percent stake in the 3-gigawatt (GW) Dogger Bank South (DBS) project, marking one of the largest planned offshore wind farms globally. The acquisition, valued at £11 billion, is part of a joint investment with RWE, a leading renewable energy firm headquartered in Germany, underscoring the UAE’s dedication to bolstering net-zero objectives, not only in the UK but worldwide.

UAE's Masdar invests £11B in UK offshore wind farm

This initiative builds upon the £10 billion UAE-UK Sovereign Investment Partnership (UK-UAE SIP), aimed at fostering advancements in technology, infrastructure, and the energy transition. Today’s announcement showcases Masdar’s extensive commitment to global offshore wind ventures. A decade ago, Masdar, in collaboration with RWE and other partners, inaugurated the 630MW London Array wind farm, then the world’s largest of its kind. Subsequently, Masdar has invested in groundbreaking projects such as the 30MW Hywind, the world’s inaugural floating offshore wind farm, and the 402MW Dudgeon offshore wind farm.

Last year, Masdar agreed to co-invest in the 476MW Baltic Eagle offshore wind farm, set to power approximately 475,000 households. Spanning over 100 kilometers off the northeastern coast of England, the DBS offshore wind farm will be divided into two sites, DBS East and DBS West, each boasting a capacity of 1.5 GW and covering 500 square kilometers. This mega-facility is poised to supply electricity to approximately three million typical UK households and is anticipated to create 2,000 jobs during its construction phase, with over 1,000 additional direct and indirect employment opportunities expected during its operational stage.

Masdar and RWE formalized their partnership on the DBS projects at COP28 in the UAE in December. With the transaction’s completion, Masdar now holds a stake in both projects, while RWE retains a 51 percent ownership. The two companies will collaborate on the development and operation of the wind farms. Construction on the projects is slated to commence by late 2025, with the initial 800MW of electricity expected to come online in 2029. Full commissioning is projected by the end of 2031.