The partnership of Masdar and Iberdrola has reached two milestones in UK and Germany. In UK, the two companies will co-invest €5.2 billion in the East Anglia THREE offshore wind farm. The project has a capacity of 1.4 GW, and each company will have a 50 per cent stake in and co-governance of the asset. The project is located off the Suffolk coast in the UK and is expected to come into initial operation in the fourth quarter of 2026.
In Germany, the companies achieved full energisation of the 476 MW Baltic Eagle offshore wind farm. The project is situated in the German Baltic Sea. It will supply renewable electricity to approximately 475,000 households and will reduce carbon emissions by about 800,000 tonnes per year.
Earlier in April 2025, Iberdrola finalised an agreement with Kansai to jointly invest in the 315 MW Windanker offshore wind farm, located in the Baltic Sea. After receiving all necessary regulatory approvals, Iberdrola will hold a 51 per cent stake in the project. According to the deal, the total valuation of the wind farm stands at approximately €1,280 million.
