KKR and global renewable-energy company RWE have forged a strategic partnership to jointly realize RWE’s U.K. Norfolk Vanguard East and Norfolk Vanguard West offshore wind projects. The two new wind farms will have a combined generation capacity of approximately 3 gigawatts.
KKR and RWE have plans to establish a 50-50 joint venture to build and operate the two wind farms, which require more than $15 billion of total development and capital expenditure to make them operational by 2029 and 2030, respectively. Together, the offshore wind projects are expected to be able to power more than 3 million U.K. homes with clean energy, contributing to the government’s goal of doubling offshore wind capacity during the next 10 years.
The new wind farms will be located approximately 50 kilometers (31 miles) to 80 kilometers (50 miles) off the United Kingdom’s East Anglia coast in the North Sea and will comprise 184 turbines, offshore substations and a connection to the Nation
