• RWE has announced an agreement with Vattenfall to acquire the projects in the Norfolk portfolio, consisting of Norfolk Vanguard West, Norfolk Vanguard East and Norfolk Boreas, each with a capacity of 1380 MW. This is a major step from RWE, securing three well advanced offshore wind portfolios, already having secured key permits and announced a number of contracts. RWE will resume the development of the Norfolk Boreas project, which Vattenfall paused earlier this year due to rising costs in the industry. The move from RWE signals they are confident that Boreas will be a profitable venture, and is a win for the offshore wind industry in the UK and the market as a whole, signaling a gradual adjustment to increased project costs.

• The acquisition follows the news earlier this week, where Vestas and Vattenfall signed a preferred supplier contract agreement for Vanguard West and an exclusivity agreement for Vanguard East and Boreas. This was a major deal for Vestas, who will supply its V236-15.0 MW turbines to all three projects. Siemens Gamesa had previously been named preferred supplier back in 2021.

Image source: RWE