German utility RWE has closed the deal to acquire a 4.2GW North Sea offshore wind pipeline from Swedish counterpart Vattenfall and set its sights on upcoming UK renewable energy tenders.
It has bought the Norfolk Vanguard West, Norfolk Vanguard East and Norfolk Boreas projects – all of which have a capacity of 1.4GW – in a £963 million (€1.1 billion) deal announced late last year.
All three projects are fully permitted – though do not have offtake agreements in place – and are due to be commissioned off the coast of Norfolk in eastern England this decade.
The majority of Vattenfall’s Norfolk team will now join RWE to continue project development.
RWE aims to secure contracts for difference for the Norfolk Vanguard East and Norfolk Vanguard West projects in the UK’s next renewable energy tender, which opens this week. It plans to secure preferred supplier agreements for the Norfolk Boreas project and then enter it at a later auction.
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