Deal worth £12bn announced to build offshore wind farms

1 hour ago

Laura Devlin

Preparatory work was already well advanced for both sites, RWE said

PA Media A large offshore wind farm with white turbines and yellow bases, under a cloudy sky. — Preparatory work was already well advanced for both sites, RWE said

A £12bn deal to construct wind farms has been described by Prime Minister Andy Burnham as "a vote of confidence for building in Britain".

Energy company RWE and investment firm KKR have announced the funding, which will deliver the Vanguard West and Vanguard East offshore wind farms off the Norfolk coast.

The wind farms are expected to be fully commissioned in 2030, with offshore construction scheduled to begin in early 2027.

"It is great news for billpayers because every turbine we put up is power under British control, not at the mercy of events on the other side of the world," added Burnham, as he prepared to head to the Cop31 climate summit.

"With coastal communities from Scotland to East Anglia powering Britain's future, the places that host this energy benefit from the jobs and opportunities that it brings," he added.

The financing includes £1bn from the state-owned National Wealth Fund, which Burnham said was "working alongside private capital to build homegrown energy and bring a return for the taxpayer".

Burnham will join other world leaders at the United Nations' Cop31 summit in Antalya, Turkey, where he will deliver a speech on Thursday.

German firm RWE said the Vanguard projects, located between 50 and 80 km (31 to 49 miles) off the coast, represented one of the UK's largest offshore wind developments, generating around 2.8 gigawatts, enough to supply three million homes.

It bought the sites, and a third offshore site - Norfolk Boreas - in 2023, when work on that development had been paused by its then owner, Vattenfall.

The government said the investment would support more than 2,400 jobs in the construction and operation phases.

Preparatory work was already well advanced, including onshore cable installation activities and construction of the substations, RWE added.

RWE chief executive Markus Krebber said: "Together with KKR, we are delivering two of the UK's largest offshore wind projects, strengthening domestic electricity generation and making an important contribution to the country's long-term energy security."

Energy Secretary Miatta Fahnbulleh said: "As the world gathers at Cop31, Britain is leading from the front as a renewable energy powerhouse, turning the fight against climate change into a brighter future for British companies, industrial communities, and future generations."