Vattenfall and RWE conclude sale of Norfolk Offshore Wind Zone

Vattenfall has today completed the sale of the Norfolk Offshore Wind Zone to RWE. The agreed purchase price corresponds to an enterprise value of £963 million.  

The deal ensures continued development of the Norfolk Zone which will produce clean power for over four million homes across the UK. Vattenfall will record a capital gain from the transaction, the exact amount to be communicated in the forthcoming interim report for January-March 2024.

The Norfolk Offshore Wind Zone 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. Continued engagement with key delivery partners and with local businesses in East Anglia will deliver a seamless transition of work from Vattenfall to RWE as the Zone is developed.

Vattenfall remains committed to the UK, with 1.1GW installed offshore and onshore wind capacity; the 798MW Muir Mhor floating offshore wind farm in development with our JV 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.

For further information, please contact: 

Tim Dunford, Vattenfall Media Relations UK, +44 77 855 526 66, tim.dunford@vattenfall.com

Peter Kocen, Vattenfall Media Relations UK, +44 78 904 002 67, pete.kocen@vattenfall.com

Attachments

See also

Vattenfall employee in front of solar panels

Vattenfall's Annual and Sustainability Report 2023: Continued work for fossil freedom

Vattenfall’s Annual and Sustainability Report for 2023 contains a special focus on offshore wind and new nuclear power – necessary factors for the energy transition as well as Vattenfall's c...

Read the full article
Torbjörn Wahlborg and Anne Gynnerstedt

Changes in Vattenfall's group management

Torbjörn Wahlborg, Head of Generation, and Anne Gynnerstedt, Head of Legal and Corporate Security & Resilience, have chosen to leave the company after long and successful operational careers...

Read the full article