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Masdar and Iberdrola reach $6bn deal on gigascale UK offshore wind project
UNITED KINGDOM, JUL 10 – The $6 billion co-investment will power 1.3 million UK homes and is backed by a 15-year government contract and private deals, marking the decade's largest offshore wind financing.
- Masdar and Iberdrola signed a $6.1 billion deal to co-invest equally in the 1.4 GW East Anglia III offshore wind farm off the Suffolk coast, UK.
- The project received consent in August 2017 and was awarded two Contracts for Difference by the UK government in 2022 and 2024 to secure revenue.
- Onshore construction started in July 2022, offshore work began earlier this year, and the wind farm will supply clean energy for over 1.3 million homes.
- A group of 24 global banks provided £3.5 billion in financing—40 percent more than initially requested—covering the majority of the estimated £5.2 billion cost of the project.
- The project is expected to start initial operation in Q4 2026 and marks a key advance in clean energy partnerships addressing growing global demand and climate goals.
22 Articles
22 Articles
Masdar, Iberdrola to build €5B UK wind farm
Abu Dhabi’s renewables giant Masdar and Spain’s Iberdrola agreed to build a €5.2 billion ($6.1 billion) offshore wind farm off the eastern British coast, in what they called one of the largest such projects this decade. The 1.4-gigawatt facility, set for completion by the end of 2026, will be able to power 1.3 million homes, with capacity already sold to the UK government and Amazon.The two companies committed in 2023 to jointly invest up to €15…
Iberdrola and the Emirati Masdar group announced this Thursday an agreement of co-investment of 5,2 billion euros in a new marine wind farm, East Anglia Three, which will become the largest project realized in the decade in offshore wind energy and the largest co-investment of Iberdrola to date.With this agreement, each company will have a 50% stake in the asset, as announced this Thursday by the companies in a statement. Located off the Suffolk…
Masdar and Iberdrola Announce €5.2bn UK Offshore Wind Deal and Full Energization of 476MW German Offshore Wind Farm
One of the largest offshore wind transactions of the decade: Masdar and Iberdrola will co-invest €5.2 billion in the 1.4 GW East Anglia THREE project, each holding 50% and joint governance. First JV now online: The partners’ inaugural project – Baltic Eagle (476 MW) in Germany – has reached full energization. Strategic momentum: Both milestones advance the companies’ €15bn alliance to scale offshore wind and green hydrogen across the UK, Germany…
Masdar and Iberdrola Strike €5.2B Deal for UK's Largest Offshore Wind Project
Featured image sourced from Iberdrola press release Masdar, the UAE-based clean energy powerhouse, and Spanish energy giant Iberdrola have taken a major leap in global offshore wind development. The duo announced a €5.2 billion co-investment in the 1.4 GW East Anglia THREE project in the UK. The press release highlighted that it’s the largest offshore wind transaction of the decade. Each company will hold a 50% stake and share governance of the…
Masdar powers ahead in UK – Asian News from UK
€15 billion clean energy alliance powers ahead with East Anglia THREE investment and Baltic Eagle energisation….reports Asian Lite News Masdar, the UAE-based global clean energy powerhouse, and Iberdrola, one of the world’s largest energy firms, have marked two pivotal milestones in their strategic partnership with a major co-investment in the UK’s East Anglia THREE offshore wind farm and the successful full energisation of the Baltic Eagle proj…
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