RWE and KKR commit £12 billion (about $16.1 billion) to UK wind farms
The state-owned national wealth fund will also provide £1 billion (about $1.3 billion) for Vanguard East and Vanguard West, two projects planned off the Norfolk coast.
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German energy company RWE and US investment firm KKR have made a £12 billion (about $16.1 billion) final investment commitment to deliver the two wind farms, Downing Street said. Onshore work is already well advanced, and the decision moves the projects toward offshore construction.
The state-owned national wealth fund’s £1 billion (about $1.3 billion) contribution is additional, The Guardian said. RWE puts the development’s generating capacity at about 2.8 gigawatts. Downing Street estimates that, once operating, the farms will have enough capacity to supply the equivalent of around 3 million UK homes.
Construction and jobs
RWE estimates that construction will create and support 2,300 jobs each year through its supply chain. The wind farms are expected to create a further 100 permanent jobs when operational.
Downing Street said offshore construction is planned to begin in early 2027, with the wind farms targeted to be operational by 2030.
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