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RWE agreed to sell a 50% stake in its Norfolk Vanguard West and East offshore wind projects to KKR. The joint venture will develop, build, and operate the projects with a combined capacity of 3.1 gigawatts, expected to power around 3 million homes.

The deal is set to close in summer 2024. The total development cost for both projects is over $15 billion, with operations planned for 2029 and 2030. RWE operates 19 offshore wind farms across Europe and ranks second globally in offshore wind capacity.