Abu Dhabi, UAE– Abu Dhabi Future Energy Company (Masdar) and Germany’s RWE Renewables will explore collaboration on developing offshore wind projects in a range of key markets.
Under the terms of an MoU signed by the two of the world’s leading renewable energy companies, Masdar and RWE Renewables will also explore further project opportunities that are identified by both parties.
Masdar and RWE are shareholders in the London Array project, which has been operational since 2012.
The wind farm has an operating capacity of 630 megawatts, powering more than half a million homes, while displacing almost 1 million tons of carbon dioxide emissions every year.
Masdar is increasingly targeting offshore wind projects as it aims to reach 100 GW total capacity by 2030. As well as the London Array, Masdar’s existing offshore projects the Dudgeon Offshore Wind Farm, also in the United Kingdom, and Hywind Scotland, the world’s first floating offshore wind farm, which became operational in October 2017.
With an extensive investment and growth programme of €50 billion gross, RWE will expand its green portfolio to 50 gigawatts by 2030, including offshore and onshore wind, solar and battery storage.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “By leveraging our two companies’ extensive expertise in this sector, we can help other nations to meet their offshore wind targets, transition to clean energy sources, and meet their net-zero objectives.”
Markus Krebber, CEO of RWE AG, said, “The acceleration of the energy transition remains key to tackling both the current energy crisis and the climate crisis. This is what we are doing at RWE with massive investments in renewable energy projects – on our own and together with partners.”