Masdar, RWE set sights on global offshore wind markets

Abu Dhabi-based Masdar and RWE Renewables will partner to explore the development of offshore wind projects in a range of key markets.

The two renewable energy majors have signed a memorandum of understanding (MoU) on the collaboration, Masdar said on Monday.

Under the agreement, the companies will explore also further project opportunities that are identified by both parties. More details about the targeted cooperation were not disclosed.

“This agreement will strengthen our existing relationship with RWE, who have been a long-standing partner with us on the London Array offshore wind farm, one of the largest in the world, while also representing an opportunity to expand our capabilities in offshore wind, a market which we see as having key strategic importance," said Masdar's chief executive officer Mohamed Jameel Al Ramahi.

Both RWE and Masdar are co-shareholders in the 630-MW London Array wind park off the UK coast.

The agreed alliance between RWE and Masdar follows the signing of the Energy Security, Climate Action and Industry Accelerator Growth Pact (ESIA) between the UAE and Germany. As part of the pact, the Abu Dhabi-based company is seeking to explore offshore wind opportunities in Germany’s North and Upper Baltic Sea, targeting up to 10 GW of renewable energy production capacity by 2030.

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