Abu Dhabi- based Masdar and Germany’s RWE Renewables have signed a memorandum of understanding (MoU) to explore collaboration on developing offshore wind projects in a range of key markets, including the UK, US and South Korea. Masdar is also set to actively participate in the German market, following a new agreement between the United Arab Emirates (UAE) and Germany.
The MoU builds on the existing partnership the two firms have in the 630MW London Array offshore wind farm and will help each achieve their individual targets for 2030. Masdar is aiming for 100GW of offshore wind by 2030, while RWE hopes to expand its green portfolio – including offshore and onshore wind, solar and battery storage – to 50GW in the same timescale.
The MoU announcement after the president of the UAE, Sheikh Mohamed bin Zayed Al Nahyan, and German chancellor Olaf Scholz signed the energy security, climate action and industry accelerator growth pact (ESIA) between the two countries.
As part of the pact, Masdar will actively explore offshore wind opportunities in Germany’s North Sea and Upper Baltic Sea, with its sights set on up to 10GW by 2030.
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