Masdar and RWE secure UK offshore wind Contracts for Difference, advancing delivery of Dogger Bank South projects

• Masdar and RWE secure CfD for 3GW of new UK offshore wind capacity across the DBS Offshore Wind Farms
• £11 billion Masdar–RWE investment underscores long-term commitment to UK offshore wind and regional economic growth
• CfD awards support delivery of one of the country’s largest offshore wind developments, strengthening UK energy security

London / Abu Dhabi, 14 January 2025: Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, and RWE, a global leader in renewable energy, have been awarded Contracts for Difference (CfDs) for the DBS (Dogger Bank South) offshore wind farms. The CfDs were awarded at a strike price of £91.20/MWh.

DBS comprises two 1.5GW projects, DBS East and DBS West, together forming one of the UK’s largest offshore wind projects currently under development. Representing an £11 billion investment, the projects would strengthen UK energy security, accelerate power sector decarbonisation, and support regional supply chains and skilled jobs across coastal communities.

Masdar and RWE will continue to work with stakeholders to progress the projects’ development and ultimate delivery. Commissioning of the projects is anticipated in 2031 (DBS West) and 2032 (DBS East).

Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said: “Securing Contracts for Difference for the DBS offshore wind farms reinforces Masdar’s long-term commitment to the United Kingdom and our growing role in the delivery of large-scale offshore wind capacity. These projects would contribute meaningfully to the resilience and decarbonisation of the UK energy system, while providing skilled jobs, supporting regional supply chains and offering sustained economic benefit. We look forward to working closely with the government, our partners and local stakeholders as the projects move into the next phase of development.”

Markus Krebber, CEO of RWE AG: “We are proud to have secured Contracts for Difference for the Dogger Bank South offshore wind projects together with our partner Masdar. This is an important milestone in the development of the Dogger Bank South projects and brings us significantly closer to their ultimate delivery. It demonstrates our long-term commitment to providing clean and affordable energy for the UK, supporting regional supply chains, skilled jobs, and contributing to the country’s energy security and net zero ambitions.”

The awards reflect Masdar’s growing involvement in the UK offshore wind sector, building on its established portfolio of long-term investments, including a €5.2 billion co-investment with Iberdrola in the 1.4GW East Anglia THREE offshore wind project, as well as strategic stakes in the London Array Offshore Wind Farm (630MW) and the Dudgeon Offshore Wind Farm (402MW). Masdar is also developing a significant UK battery energy storage pipeline, supporting grid flexibility and system resilience.

RWE is one of the world’s leading companies in offshore wind. RWE’s unparalleled track record of more than 20 years in offshore wind has resulted in 19 operational wind farms, of which 10 are in the UK, with an installed capacity of nearly 4 GW in the UK (RWE pro rata share amounts to 1.9 GW). RWE has pioneered UK offshore wind energy, having installed the first offshore turbines at Blyth in 2000, and commissioned the UK’s first commercial-scale offshore wind farm, North Hoyle, in 2004. Furthermore, RWE currently has four offshore wind projects under construction in four countries, including the 1.4-gigawatt project Sofia off the coast of Northern England, also located on Dogger Bank.

CfDs are the UK Government’s primary mechanism for enabling the deployment of low-carbon electricity at scale, providing long-term price certainty while supporting affordability and security of supply. The awards were confirmed by the Low Carbon Contracts Company following Masdar and RWE’s successful bids in the Offshore Wind (Pot 3) category.