Propelling the future of UK offshore wind growth with Masdar
A rapid shift to renewable energy is crucial if the UK is to meet its climate change goals. Wind power is key to achieving the UK’s renewable energy targets and could contribute towards reaching net zero by 2050.
In this context, Masdar, a leading developer and operator of utility-scale renewable energy projects, has acquired a substantial 49% stake in early-stage offshore wind development projects, Dogger Bank South West and Dogger Bank South East (DBS). The DBS projects are located in the North Sea with a planned installed capacity of 3GW, and are poised to be integral components of the UK's offshore wind energy landscape. The £11billion joint investment will provide a huge boost to the UK economy and demonstrates the UAE’s long-term commitment to supporting net-zero goals in Britain and around the world.
Once fully operational, DBS will rank among the largest UK offshore wind farms, generating green energy equivalent to powering 3 million typical UK homes annually. Given its size, the project will contribute towards the UK Government’s target to grow offshore wind capacity from 13.7GW to 50GW by 2030 and increase Masdar’s footprint globally.
Societe Generale is the exclusive financial advisor to Masdar.
Masdar's investment in these offshore wind projects underscores the global shift towards greener energy alternatives. With our support, this venture strengthens Masdar's position as a key player in the renewable energy sector and supports their offshore wind growth ambitions. As the world seeks cleaner and more sustainable energy solutions, investments like these reflect Societe Generale’s commitment to enabling sustainable progress.
We are incredibly pleased to have advised Masdar, in this significant acquisition. Masdar is highly active in the renewable energy space and this transaction will allow them to continue in their efforts to advance the commercialisation and deployment of renewable energy and clean technologies.