ESSEN (dpa-AFX) - RWE AG (RWEOY, RWE.DE), a German energy company, and KKR & Co. Inc. (KKR), an investment firm, on Wednesday announced that they will deliver the Vanguard West and Vanguard East offshore wind projects in the British North Sea with a combined generation capacity of around 2.8 gigawatts.
The projects represent a total investment of around £12 billion, including the construction of the wind farms and their associated infrastructure. The investment is supported by equity commitments from both RWE and KKR, alongside non-recourse project financing secured from a consortium of lenders.
The preparatory works have already started for offshore construction, which is set to begin in early 2027. The companies expect the full commissioning of the projects in 2030.
Vanguard West and Vanguard East will be located between 50 and 80 kilometers off the Norfolk coast in East Anglia. Each project will have an installed capacity of 1.4 GW to supply a combined capacity of 2.8 GW.
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