RWE and investment firm KKR have reached financial close for the Vanguard West and Vanguard East offshore wind projects in the British North Sea. The two projects have a combined planned capacity of 2.8 GW.
The projects represent a total investment of around £12 billion, covering the wind farms and their associated transmission infrastructure. The investment is supported by equity commitments from RWE and KKR, alongside non-recourse project financing provided by a consortium of international lenders.
Vanguard West and Vanguard East will be located between 50 and 80 kilometres off the Norfolk coast in East Anglia. Each project will have an installed capacity of 1.4 GW.
Preparatory work for offshore construction is well advanced, with construction scheduled to begin in early 2027. The first foundation installation for Vanguard West is planned for the first half of 2027, followed by Vanguard East. Both projects are expected to be fully commissioned in 2030. Onshore cable works and substation construction are also progressing. The projects will use coordinated grid infrastructure intended to reduce environmental and community impacts.
Both projects secured 20-year Contracts for Difference (CfDs) in the UK’s Allocation Round 7 in January 2026. The awarded strike price is £91.20/MWh in 2024 prices, indexed to inflation.
The financial close follows the completion of the joint venture transaction announced in January 2026. KKR has acquired a 50% equity stake in each project, establishing a 50:50 partnership with RWE.
