Masdar has completed its acquisition of a 49 percent shareholding in the 3GW Dogger Bank South (DBS) project. Located over 100 kilometers off the northeastern coast of England, the DBS offshore wind farm will be split across two sites, DBS East and DBS West, each with a capacity of 1.5 GW and spanning 500 square kilometers.
Masdar and RWE signed an agreement to join forces on the 11 billion DBS projects at COP28 in the UAE last December. With the closing of the transaction, Masdar is now a shareholder in both projects, while RWE retains a 51 percent stake. The companies will work together to develop and operate the wind farms. Construction on the projects could start as early as the end of 2025, with the first 800MW of electricity planned to come online in 2029. The projects are expected to be fully commissioned by the end of 2031. The next development milestone for the projects will be the submission of applications for Development Consent Orders, expected to be during the second quarter of 2024. If successful, the next steps would be to secure Contracts for Difference (CfD), followed by financing, construction, and finally commissioning by 2031.
