Masdar, RWE to Explore Collaboration on Offshore Wind Projects
Masdar, Abu Dhabi Future Energy Company, and Germany’s RWE Renewables, signed a Memorandum of Understanding to explore collaboration on developing offshore wind projects in a range of key markets.
Under the terms of the MoU, Masdar and RWE Renewables will explore the development of offshore wind projects in a number of countries and explore further project opportunities that are identified by both parties.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “This agreement will strengthen our existing relationship with RWE, while also representing an opportunity to expand our capabilities in offshore wind, a market which we see as having key strategic importance.
"By leveraging our two companies’ extensive expertise in this sector, we can help other nations to meet their offshore wind targets, transition to clean energy sources, and meet their net-zero objectives.”
Markus Krebber, CEO of RWE AG, said, “I am very pleased that we will join forces with Masdar, a known and reliable partner to RWE for years. Together we will explore the potential for widening the scope of our partnership in offshore wind to further projects.”
Masdar and RWE are shareholders in the London Array project, which has been operational since 2012. The wind farm has an operating capacity of 630 megawatts, powering more than half a million homes, while displacing almost 1 million tonnes of carbon dioxide emissions every year.