Masdar and RWE Renewables join forces to develop offshore wind. The two companies announce the signing of an MoU. According to the agreement, Masdar and RWE will develop offshore wind projects in different countries.
This announcement comes after Olaf Scholz‘s visit to Saudi Arabia. On this occasion, Germany signed a pact with the President of the United Arab Emirates. The agreement focuses on energy security, climate action and accelerating industrial growth between the two countries. In addition, Masdar will develop offshore wind projects in Germany in the Baltic Sea.
Masdar and RWE develop offshore wind energy
Mohamed Jameel Al Ramahi, Managing Director of Masdar, is pleased:
“This agreement will strengthen our existing relationship with RWE, which is a long-standing partner for the London Array offshore wind farm, one of the largest in the world, while representing an opportunity to expand our capabilities in offshore wind, a market we see as having key strategic importance. By leveraging the deep expertise of both of our companies in this sector, we can help other nations meet their offshore wind goals, transition to clean energy sources and achieve their net-zero energy goals.”
For his part, Markus Krebber, CEO of RWE, says:
“Accelerating the energy transition remains essential to combat both the current energy crisis and the climate crisis. This is what we are doing at RWE by investing heavily in renewable energy projects – alone and with partners. I am very pleased that we are joining forces with Masdar, a well-known and reliable partner of RWE for many years for our London Array offshore wind farm. Together we will explore the possibility of expanding the scope of our offshore wind partnership to other projects.”
The two companies have worked together in the past. They are shareholders in the London Array project. The wind farm, with a capacity of 630 MW, has been operational since 2012.
Offshore wind power, a pillar of the energy transition
Many countries rely on offshore wind power. The UK has the largest installed capacity in the world. However, the country intends to continue its efforts. It aims to reach 50 GW by 2030. The United States, as part of the Green New Deal, is targeting 30 GW by 2030. Similarly, South Korea wants to develop 20 GW by the end of the 2020s.
Thus, Masdar and RWE intend to establish themselves in many markets. Masdar is growing rapidly, and it intends to multiply its offshore wind projects. In fact, it is targeting a total capacity of 100 GW by 2030. The company already has important projects in its portfolio: London Array, Dudgeon Offshore Wind Farm or Hywind Scotland.