KKR is investing in UK offshore windfarm projects via a partnership with renewable energy firm RWE.
Investment firm KKR said it has entered into a 50:50 partnership with RWE to develop Norfolk Vanguard East and Norfolk Vanguard West projects in the UK, which require over $15bn (鈧�12.9bn) in total capital expenditure.
Once operational, the two wind farms will deliver a combined 3GW of clean energy capacity.
Vincent Policard, co-head of European infrastructure at KKR, said: 鈥淲e are delighted to be forming this strategic partnership with RWE, a proven leader in offshore wind with an exceptional track record of developing high-quality projects. This investment underscores our conviction in the long-term importance of UK renewables and the central role offshore wind will play in advancing the country鈥檚 energy transition.鈥�
Sven Uterm枚hlen, CEO of RWE Offshore Wind, said: 鈥淏y leveraging our complementary strengths 鈥� RWE鈥檚 world-class development expertise and KKR鈥檚 expertise in investing and owning large-scale construction and renewable projects 鈥� we are helping deliver a significant addition to the UK鈥檚 future offshore wind capacity and support the UK in its decarbonisation journey.
鈥淏y combining KKR鈥檚 investment know-how in large-scale, complex infrastructure projects with RWE鈥檚 extensive offshore wind expertise, we are well positioned to jointly realise these major projects.鈥�
Shreya Malik, managing director in KKR鈥檚 European Infrastructure team, said: 鈥淜KR has built one of the largest renewable energy portfolios globally with a pipeline of over 50GW across its portfolio. We bring a full operational and financing toolkit that is designed to support the delivery of large-scale renewable projects alongside strategic partners like RWE.
鈥淥ur partnership model combines KKR鈥檚 know-how in executing on large-scale complex infrastructure projects with leading industrial capabilities to accelerate the build-out of critical clean-energy infrastructure. RWE is one of the most respected offshore wind developers, and we are proud to partner with them on this milestone project.鈥�
To read the latest 麻豆映画 Real Assets magazine click here.
