Vattenfall has completed the sale of the Norfolk Offshore Wind Zone to RWE in a deal that values the portfolio at £963m.

The three development projects have already secured seabed rights, grid connections, Development Consent Orders and all other key permits. All three Norfolk projects are expected to be commissioned in this decade and the deal will ensure continued development of the Norfolk Zone that comprises of three fully consented wind farms – Norfolk Boreas, Norfolk Vanguard West and Norfolk Vanguard East and at 4.2GW will be one of the largest offshore wind developments in the world.
The Norfolk Vanguard West and Norfolk Vanguard East projects are most advanced, having secured the procurement of most key components. The next milestone in the development of the Norfolk Vanguard West and the Norfolk Vanguard East projects is to secure a Contract for Difference (CfD) in one of the upcoming auctions. RWE will resume the development of the Norfolk Boreas project, which was previously halted.

Sven Utermöhlen, CEO of RWE Offshore Wind: “Over the past 13 years, the Norfolk team has done a great job in developing the three offshore wind projects. I am very happy to welcome them to our global offshore wind team and we will rely on their expertise to take forward the projects’ delivery in one of the world’s most attractive regions for offshore wind. Equally, I am looking forward to continuing the work with our supply chain partners. I’d also like to thank the Vattenfall team and The Crown Estate for their work in facilitating a smooth handover of the Norfolk projects to ensure a seamless transition.”

Vattenfall retains1.1GW of installed offshore and onshore wind capacity in the UK; the 798MW Muir Mhor floating offshore wind farm in development with partner Fred Olsen Seawind, plus a pipeline of around 1.5GW of onshore wind projects; heat networks under construction in three major UK cities; and over 50 sites connected to the Independent Network Operator business.

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