RWE has secured Contracts for Difference in the United Kingdom’s Allocation Round 7 for its offshore wind projects, representing a total capacity of 6.9 GW. The awarded projects include Norfolk Vanguard East and Norfolk Vanguard West, two Dogger Bank South projects in the North Sea, and the Awel y Môr project in the Irish Sea.
Each project received a 20-year CfD at a strike price of £91.20 per megawatt hour (MWh), 2024 prices, inflation-indexed, as confirmed by the UK Department for Energy Security and Net Zero.
RWE and investment firm KKR have agreed to jointly develop the Norfolk Vanguard East and Norfolk Vanguard West projects. KKR will take a 50% equity stake in each project, with both partners responsible for development, construction and operation. Closing of the transaction is subject to customary approvals and is expected in summer 2026.
