Gulf Development Public Company Limited has established a new wholly owned subsidiary in the UK to strengthen its energy and infrastructure activities across Europe.
The new entity, Gulf Energy Development Limited (GUK), was incorporated on 18 May and will support investment management, business development and strategic partnerships in the UK and European markets.
The company said the new subsidiary supports its long-term growth strategy in Europe and complements its existing renewable energy investments in the region, including stakes in the Borkum Riffgrund 2 offshore wind farm in Germany and the Outer Dowsing offshore wind project in the UK.
Gulf Development Public Company Limited entered the European offshore wind sector in 2020 through the acquisition of a 50% stake in the 465 MW Borkum Riffgrund 2 offshore wind farm from Global Infrastructure Partners. Ørsted retained the remaining 50% stake in the German project.
Located offshore Lower Saxony, Borkum Riffgrund 2 operates with 56 Vestas V164-8.3 MW turbines and has been commercially operational since 2019.
In 2023, Gulf Development Public Company Limited acquired a 24.99% indirect stake in the 1.5 GW Outer Dowsing offshore wind project through a joint venture with Macquarie’s Green Investment Group. TotalEnergies holds the remaining 50% stake in the project.
The Outer Dowsing offshore wind farm is planned approximately 54 kilometers off the Lincolnshire Coast. The project received development consent earlier this year.
