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Announced

RWE to acquire Norfolk Boreas, Norfolk Vanguard West and Norfolk Vanguard East from Vattenfall in a £963m deal.

Financials

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Transaction Value£963m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Renewable Energy Equipment

United Kingdom

wind farms

Acquisition

Majority

Private

Cross Border

Pending

Friendly

Single Bidder

Synopsis

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RWE, a renewable energy firm, agreed to acquire wind farms Norfolk Boreas, Norfolk Vanguard West and Norfolk Vanguard East from Vattenfall, a Swedish multinational power company, in a £963m deal. “The Norfolk Offshore Wind Zone is incredibly important for the energy transition and reaching net zero. Today’s agreement with RWE is great news for the UK’s energy security, ensuring the Zone’s continued journey towards providing clean electricity for over 4 million homes as well as jobs and investment into the UK. Both the UK and the offshore market remain attractive over the long term, and we will focus our offshore investments in projects which are appropriate to our current risk appetite while continuing to operate and grow our existing fleet of assets," Anna Borg, Vattenfall CEO.

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