The UK government has released the results of Contracts for Difference (CfD) Allocation Round 7 (AR7) for offshore wind, confirming that RWE has secured contracts covering a total of 6.9 GW of capacity.
The Department for Energy Security and Net Zero (DESNZ) said RWE’s Norfolk Vanguard East and Norfolk Vanguard West projects, two Dogger Bank South projects in the British North Sea, and the Awel y Môr project in the Irish Sea have each been awarded 20-year CfDs at a strike price of £91.20 per megawatt hour (MWh), expressed in 2024 prices and indexed to inflation.
Alongside the CfD awards, RWE has agreed a long-term partnership with KKR to jointly deliver the Norfolk Vanguard East and Norfolk Vanguard West projects. Under the agreement, KKR will acquire a 50% equity stake in each project, with the two parties jointly responsible for development, construction and operation. Completion of the transaction remains subject to customary approvals and is expected in summer 2026.
Markus Krebber, Chief Executive Officer of RWE AG, said: “We are delighted to have been successful in securing long-term offtake contracts for five projects in AR7. In addition, we are excited to join forces with KKR as our strategic partner in the Norfolk Vanguard East and Norfolk Vanguard West offshore wind projects.”
He added that partnerships also play a central role in other parts of RWE’s UK offshore wind portfolio. The Dogger Bank South projects are being developed with Masdar, while the Awel y Môr project involves collaboration with Stadtwerke München and Siemens.
The Norfolk Vanguard East and West projects, located 50 to 80 kilometres off the Norfolk coast, have secured contracts covering 3.1 GW. RWE has begun the process of raising non-recourse project finance debt, with project financing, partnership closing and a final investment decision targeted for summer 2026. Commissioning is expected in 2029 for Norfolk Vanguard West and 2030 for Norfolk Vanguard East.
Dogger Bank South consists of two sites, East and West, located more than 100 kilometres off the north-east coast of England. Together, they account for 3 GW of capacity. RWE holds a 51% stake, with Masdar owning 49%, and is leading development, construction and operation. The projects are expected to be commissioned in 2031 and 2032.
Awel y Môr, developed as an extension to the existing Gwynt y Môr offshore wind farm, is located around 10.5 kilometres off the north Wales coast in the Irish Sea. The project has an estimated capacity of 0.8 GW and is jointly owned by RWE (60%), Stadtwerke München (30%) and Siemens (10%), with commissioning expected in 2031.
