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London: The UK government on Wednesday welcomed a £12-billion ($16-billion) investment by German energy group RWE and US investment fund KKR in two offshore wind farms in British waters.
The two projects were among those awarded in a UK government auction in January, which secured a record amount of offshore wind power capacity.
"It is great news for billpayers because every turbine we put up is power under British control, not at the mercy of events on the other side of the world," Prime Minister Andy Burnham said in a statement.
The investment comes ahead of Burnham's trip to the COP31 climate summit in Turkey, as his government seeks to champion the renewable energy transition while defending its approval of a controversial North Sea gas field.
The Vanguard West and Vanguard East wind projects, off the coast of Norfolk in eastern England, will have a combined capacity of 2.8 gigawatts and are set to deliver power by 2030, RWE said in a statement.
They will be able to generate enough electricity to power three million households and will support more than 2,400 jobs during their construction and operation, according to the government.
KKR has acquired a 50 percent stake in each project, after partnering with RWE to establish a joint venture.
The financing involves 35 international banks and includes a £1 billion commitment from the National Wealth Fund, a British public body, RWE said.
These two wind farms are among the projects selected by the government to deliver 8.4 gigawatts of electricity, enough to power 12 million homes.
Britain has set a target to consume zero carbon electricity by 2030 and is aiming to reach net zero greenhouse gas emissions by 2050 to combat climate change.
A decision by the Labour government last month to approve the Jackdaw gas field in the North Sea pitted its climate ambitions against pressure to increase domestic energy supplies and ease surging utility bills amid price shocks from the Iran war.
The decision was welcomed by the Conservative opposition and US President Donald Trump, but condemned by environmentalists.
The government is yet to decide whether to approve the Rosebank field, which mainly contains oil and lies west of the Shetland Islands.
