RWE and Masdar have signed a memorandum of understanding (MoU) to explore joint participation in Germany’s offshore wind auctions in 2027.
The agreement has an indicative investment value of more than EUR 3 billion and builds on the companies’ existing partnership in offshore wind, according to RWE and Masdar, which currently jointly operate and develop offshore wind projects in the UK with a combined capacity of 3.6 GW.
In the UK, the two companies own the 630 MW London Array offshore wind farm, which has been operational since 2013, and the 3 GW Dogger Bank South East and West projects, which secured Contracts for Difference (CfDs) in the UK government’s Allocation Round 7 in January and a development consent in May this year.
Masdar is already present in Germany through the 476 MW Baltic Eagle offshore wind farm, which the UAE company owns together with Iberdrola.
The new agreement with RWE comes as Masdar also signed an MoU with German asset manager Luxcara to explore potential joint investments of more than EUR 5 billion in battery energy storage systems, offshore wind and potentially other technologies.
At the beginning of this year, the German government announced it had decided to postpone the tenders for the N-10.1 and N-10.2 offshore wind sites to 2027. The two sites, totalling 2.5 GW in capacity, were planned to be put up for auction this year after not receiving any bids in 2025.