The UK will welcome two new offshore wind projects in the North Sea, which are expected to deliver 2.8GW of capacity.
Renewable energy company RWE and investment firm KKR are jointly delivering the Vanguard West and Vanguard East projects. After an investment of £12 billion the facilities are predicted to power around three million homes.
Prime Minister Andy Burnham said: “This major investment in UK renewables is a vote of confidence for building in Britain. And 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.
“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.”
Financial close has been reached for both projects and is now the largest ever project financing in UK offshore wind.
The financing includes a £1 billion commitment from the UK’s National Wealth Fund and credit cover from Germany’s Euler Hermes and Denmark’s EIFO. This marks the first ever participation in UK offshore wind financing for the National Wealth fund.
UK 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.”
Preparatory works are already underway for construction, which is set to begin in early 2027. The first foundation installation for Vanguard West is planned for the first half of next year, followed by Vanguard East.
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