BAKU, Azerbaijan, February 7. Abu Dhabi Future Energy Company PJSC (Masdar), a global clean energy leader, and German utility RWE signed a Memorandum of Understanding (MoU) on Tuesday to support the expansion of renewable energy in Germany and Europe, Trend reports via Masdar.
The agreement, witnessed by UAE President Sheikh Mohamed bin Zayed Al Nahyan and German Chancellor Friedrich Merz during the Chancellor’s state visit to the UAE, was exchanged by H.E. Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC and Chairman of Masdar, and Dr Markus Krebber, CEO of RWE.
Under the MoU, Masdar and RWE will explore investments in battery energy storage system (BESS) projects in Germany. Masdar aims to invest in existing RWE-owned BESS projects with a capacity of up to 1 gigawatt (GW) by 2030, while both companies will assess jointly developing new BESS projects of up to 1 GW by 2035. Battery storage systems are designed to support renewable energy expansion by balancing intermittent supply and ensuring a stable, affordable, and secure power supply, meeting growing demand from new data centers.
RWE and Masdar’s partnership dates back to 2008, beginning with co-investment in the London Array offshore wind farm. Last month, the companies were awarded Contracts for Difference (CfDs) by the UK government for the Dogger Bank South offshore wind farms, representing an £11 billion investment across two 1.5GW projects, DBS East and DBS West, currently among the UK’s largest offshore wind developments.