RWE and KKR Seal $16 Billion UK Offshore Wind Mega-Deal

German energy company RWE and global investment firm KKR will invest $16 billion £12 billion in offshore wind projects in the UK in what is likely the biggest renewable energy investment in Britain ever. RWE and KKR expect to deliver the Vanguard West and Vanguard East offshore wind projects in the UK North Sea with this investment after reaching financial close for both projects.

Together, the projects, representing £12 billion investment including the construction of the wind farms and their associated transmission infrastructure, will be one of the UK’s largest offshore wind developments, RWE said on Wednesday. 8 gigawatts GW will be fully commissioned in 2030 and capable of powering around three million UK homes, the German energy giant noted.