Iberdrola has closed a strategic agreement with Kansai, Japan’s second largest electricity company and one of the largest in Asia, to co-invest in the 315 MW German offshore wind farm, Windanker, located in the Baltic Sea.
After obtaining all the necessary regulatory approvals, Iberdrola will have a majority stake of 51% in the assets and thus accelerates energy independence in Europe.
According to the terms of the operation, the valuation of 100% of this wind farm amounts to around €1280 million. Iberdrola will control and manage the assets, providing operation and maintenance services and other corporate services.
In addition, both companies are partners in Electricity North West (ENW), an electricity distribution company in the United Kingdom, where Iberdrola acquired 88% in October 2024, with the remaining 12% owned by a consortium led by Kansai.
In February 2024, Ignacio Galán, Chairman of Iberdrola, and Toru Kuwahara, Executive VP of Kansai, announced the expansion of their strategic alliance with the aim of accelerating electrification globally. This collaboration will focus on various power grid and renewable energy projects in different countries.
Windanker will have 21 wind turbines with a unit capacity of 15 MW and will be operational in 4Q26. Likewise, the asset has already sold 100% of its production with long-term contracts.
The policy of alliances is Iberdrola’s strategy to accelerate its growth and promote the decarbonisation of the economy while maintaining its financial strength.
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Read the article online at: https://www.energyglobal.com/wind/24042025/iberdrola-and-kansai-close-offshore-wind-alliance-with-baltic-sea-investments/
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