Masdar advanced two of its projects abroad through a contract for difference (CfD) and financial close, as it looks to reach its 100 GW global renewables capacity target by 2030, having reached 65 GW as of last week.

In the UK: Masdar and RWE were awarded a CfD for the 3 GW Dogger Bank South (DBS) wind farm at GBP 91.20 / MWh, according to a statement. The CfD — which is a private agreement between low-carbon electricity developers and the government-owned contractor — locks in revenue for 15 years under specific pricing terms, protecting companies from price volatility and allowing lenders to model a predictable cashflow.

This comes just a few days after the UK’s energy security and net zero state secretary delayed consent for the project’s development until 30 April.

About the project: The GBP 11 bn project has two 1.5 GW phases; DBS West is scheduled for 2031, and DBS East for 2032.

Masdar also reached financial close on the USD 225 mn Guzar solar and battery storage project in Uzbekistan, according to a statement. The project — comprising a 300 MW solar plant and 75 MWh of battery storage — will get financing from the European Bank for Reconstruction and Development and the Asian Development Bank.

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