Pier’s Post

We're thrilled to announce that the Development Consent Order (DCO) application for the DBS (Dogger Bank South) Offshore Wind Farms, a joint venture between RWE and Masdar (Abu Dhabi Future Energy Company), has been accepted into the UK Planning Inspectorate examination phase. This ambitious project will feature up to 200 turbines, delivering a combined estimated capacity of 3GW. That's enough to power up to three million UK homes! 🏡⚡ Beyond its sustainable electricity output, the investment by RWE and Masdar is set to make a significant economic impact, contributing nearly £1 billion to the UK economy, supporting up to 2,380 jobs during development and construction. The Humber region alone is predicted to see a £400 million boost. 💼 Full Story: https://lnkd.in/ezGPrXWd #RenewableEnergy #OffshoreWind #DBSOffshoreWind #Humber

RWE and Masdar have reached a key milestone with their Dogger Bank South (DBS) Offshore Wind Farms, as their Development Consent Order (DCO) application has been accepted for examination by the UK Planning Inspectorate. As mentioned below, this project will feature up to 200 turbines, generating 3 gigawatts (GW) of power, enough to supply 3 million homes. It was announced that RWE will hold a 51% stake and will oversee development, construction, and operation, while Masdar will own 49% of the project. This is expected to significantly boost the UK economy, particularly the Humber region, with an estimated contribution of nearly £1 billion. The next steps include securing Contracts for Difference (CfD) and moving towards financing and construction phases. (Read the RWE article below for further information on this project) More generally, the recent relaxation of government rules surrounding onshore wind energy projects marks a significant step towards achieving the UK's sustainability goals. This policy shift not only streamlines the planning process but also paves the way for increased investment and innovation in wind energy. Wind energy has long been recognized for its potential to provide clean, sustainable power, and these new regulations will accelerate the development of wind farms across the UK. By simplifying the approval process, we can expect a surge in the number of wind projects, potentially creating thousands of green jobs and contributing to local economies. The benefits extend beyond just environmental impact; these new wind energy generation projects could mean enhanced energy security and may help stabilize energy prices by diversifying the UK's energy mix. As we embrace this change, it’s crucial for industry leaders, policymakers, and communities to work collaboratively to ensure that these projects are implemented responsibly and sustainably. This policy update is a testament to the UK’s proactive approach in fostering a greener future. It’s an inspiring development that could bring us closer to a more sustainable and resilient energy system. #RenewableEnergy #WindPower #Sustainability #UKEnergy #CleanEnergy #OffshoreWind

Masdar (Abu Dhabi Future Energy Company) on Thursday said it has wrapped up the purchase of a 49% stake in the 3-GW Dogger Bank South #offshorewind farm in UK waters. As announced at end-2023, the interest has become Masdar’s possession as part of a GBP 11 billion (USD 13.88bn/EUR 12.85bn) joint investment in the British renewable energy sector. The controlling 51% stake in the offshore project will continue to be held by RWE Renewables, a unit of German energy group RWE (ETR:RWE). As a next step, the partners will apply for Development Consent Orders in the second quarter of this year and, if successful, will then seek to obtain Contracts for Difference (CfD). To be installed in the North Sea, some 110 km (68 miles) off the east coast of Yorkshire, Dodger Bank South will consist of the DBS East and the DBS West sites. Each of them will be of 1.5 GW in size and is due to go online by the end of 2031. Construction at the two sites could begin as early as the end of 2025 and the first 800 MW could be switched on in 2029. Once fully operational, the offshore complex will have an annual output equal to the consumption of roughly three million British homes. https://lnkd.in/e_f8jznQ

A big number for projects that are set to have a big impact. And with which we have also just made a big next step.    Our Dogger Bank South offshore wind farms have advanced to the pre-examination phase. This follows the Development Consent Order (DCO) being accepted for consideration by the UK Planning Inspectorate. A pivotal point in the development of these projects – and a huge well done to all involved!    To show just what this progress means for us at RWE and for offshore wind and the energy transition in the UK, let me throw some more numbers around. Once constructed, these two offshore wind farms will have up to 200 turbines and a combined installed capacity of 3 gigawatts – enough to meet the electricity needs of around 3 million average UK households every year.    Beyond the electricity output, Dogger Bank South has additional benefits for the UK and is expected to contribute almost £1 billion to the UK economy and to support up to 2,380 UK jobs during development and construction.    I know, a lot of numbers, but they really can best tell a story, and I believe we can all come to the same clear conclusion: the importance of these projects and the big contribution they will make. I am very excited to see #TeamRWE and Masdar (Abu Dhabi Future Energy Company) moving #DBSoffshorewind forward!

In order to enable the Global South to benefit from the potential of renewable energy to advance energy independence, security, and affordability, decisions need to be made by all stakeholders on the management of renewable energy project risk, Niall Hannigan, CFO, Masdar (Abu Dhabi Future Energy Company), has said. “The argument around renewables is undeniable…The issue is: how do we allocate the risk appropriately? How do we make sure that the risk sits with the right party who is best positioned to manage that risk? I think that’s a collaborative exercise. You need to get the governments, the regulators, the development banks, the commercial banks, and the developers, like ourselves, into the room together, to create a programme,” he said at the ADIPEC Strategic Conference session. #ADIPEC #ADNOC #EnergyTransition

💥 Over €17bn Deployed in Europe YTD 2024: What's Driving the Surge in Investments by PE Firms/PE-Backed Companies in EU’s Renewables? 🌍 PE firms/PE-backed companies like KKR, Masdar (Abu Dhabi Future Energy Company), EQT Group, and Norges Bank Investment Management Bank have already made significant acquisitions in Europe this year, with plans to invest even more. What fuels their interest? 📉 Declining Valuations of Assets and Platforms: These investors are seizing the opportunity to deploy capital across platforms and assets now available at lower valuations than a few years ago. 💬 This trend was underscored by Masdar's CEO following their recent $920mn acquisition of a renewable portfolio in Spain from Enel: “When interest rates were at zero or negative, people expected high valuations. If you didn’t meet their expectations, they could easily borrow at zero interest and continue their growth story without you. Now, higher rates have made the market realize that those valuations were unrealistic.” 🔍 Investors are capitalizing on this market shift, positioning themselves for strategic growth in Europe’s renewable energy sector. #RenewableEnergy #PrivateEquity #Investment #SustainableInvesting #GreenEnergy #EuropeRenewables #CleanEnergy #EnergyTransition #KKR #Masdar #EQTGroup #NorgesBank #RenewableInvestments

The Sovereign Fund of Egypt has signed four agreements worth $33 billion in the field of green ammonia with European developers. bp, Masdar (Abu Dhabi Future Energy Company), Hassan Allam Utilities, and Infinity Power came together for one of four agreements, amounting to $14 billion. This collaboration aims to develop a green ammonia project at Al-Sokhna Port. The signing of these agreements not only underscores Egypt’s commitment to sustainable development but also positions the country as a key player in the global renewable energy market. #greenhydrogen, #ammonia, #energytransition https://lnkd.in/dFuEyjtw

Masdar (Abu Dhabi Future Energy Company), the Middle East's largest #renewableenergy company, is advancing towards its goal of reaching 100GW in wind and solar capacity by 2030, positioning it among the world’s leading renewable energy players. Backed by ADNOC Group, TAQA Group, and Mubadala, Masdar has been expanding globally with major deals in Spain, Greece, the US, and the UK. Their strategy focuses on a balanced portfolio of wind and solar projects across key markets, including the Middle East, Europe, and the US. Unlike traditional financial investors focused on short-term returns, Masdar is a strategic investor with a long-term vision, emphasizing sustainable growth over quick profit. As a utility company, their investments are designed for long-term impact, not short-term asset recycling, aligning with the broader goals of the global energy transition. #RenewableEnergy #Sustainability #cleanenergy #energytransition

HSBC has supported Abu Dhabi Future Energy Company, Masdar, the UAE’s fastest growing renewable energy company, as Joint Lead Manager and Bookrunner in raising US$1 billion through its second green bond issuance, under its Green Finance Framework. The successful issuance witnessed strong international appetite with 70% of the issuance allocated to global investors. The net proceeds will be used towards meeting Masdar’s equity commitments on new greenfield projects in renewable energy and energy efficiency. The transaction marks Masdar’s second offering in the debt capital markets following its debut 10-year green issuance in July 2023, for which HSBC also acted as Joint Lead Manager and Bookrunner. Read more here: https://grp.hsbc/6042YjPJE

HSBC has supported Abu Dhabi Future Energy Company, Masdar, the UAE’s fastest growing renewable energy company, as Joint Lead Manager and Bookrunner in raising US$1 billion through its second green bond issuance, under its Green Finance Framework. The successful issuance witnessed strong international appetite with 70% of the issuance allocated to global investors. The net proceeds will be used towards meeting Masdar’s equity commitments on new greenfield projects in renewable energy and energy efficiency. The transaction marks Masdar’s second offering in the debt capital markets following its debut 10-year green issuance in July 2023, for which HSBC also acted as Joint Lead Manager and Bookrunner. Read more here: https://grp.hsbc/6042YjPJE