Global Investor Joining RWE On Two Norfolk Vanguard Offshore Wind Projects, FID Expected in Summer
The title of this post, is the same as that of this article on offshoreWIND.biz.
This is the sub-heading.
Global investment firm KKR and RWE have signed an agreement under which KKR acquire a 50 per cent stake in each of RWE’s Norfolk Vanguard East and Norfolk Vanguard West offshore wind projects, totalling 3.1 GW in installed capacity. The wind farms were just awarded Contracts for Difference (CfDs) in the UK’s seventh CfD allocation round (AR7).
These three paragraphs add a few more details.
The two Norfolk Vanguard projects, which RWE bought from Vattenfall in March 2024, have already secured seabed rights, grid connections, development consent orders (DCOs) and all other key permits.
On 14 January, RWE said it launched the process to raise non-recourse project finance debt for the projects and that it expects the closing of the partnership transaction and the project financing, as well as the final investment decision (FID), in the summer of 2026.
Located 50 to 80 kilometres off the coast of Norfolk, the two offshore wind farms are planned to be commissioned in 2029 (Norfolk Vanguard West) and 2030 (Norfolk Vanguard East).
RWE do seem to be lining up everything ready for that final investment decision in the summer of 2026.
- I suspect that with KKR on board, that they have got the money ready and I wouldn’t be surprised to see these two projects quickly progress to a completion.
- I also think it was significant that we have Goldman Sachs involved in Highview Power, who may have a solution to affordable energy storage and now we have KKR getting involved with one of the most professional offshore wind power developers in the world.
- Are Goldman Sachs and KKR placing bets against Trump’s anti wind power stance?
The Germans will certainly need a lot of energy and British offshore wind power, would appear the only place, where it is available easily in quantity to the Germans.
I await the next few months with a lot of interest.
No comments yet.
The Anonymous Widower 
Leave a comment