Iberdrola and the Emiratí Masdar will coinvert 5,200 million euros in a marine wind park in the United Kingdom
Iberdrola And the Emiratí Group Masdar They announced on Thursday a coinversion agreement of 5,200 million euros In a new marine wind park, East Anglia Threewhich will become the largest project carried out in the decade in marine wind energy and the greatest coinversion of Iberdrola to date.
With this agreement, each company will have a 50% participation in the asset, as the companies announced on Thursday in a statement. Located in front of the Coast of Suffolk, in the United Kingdom, East Anglia Three will be one of the two largest marine wind farms in the world when it enters into operation in the fourth quarter of 2026, with a capacity of 1,400 MW, and will provide clean energy to 1.3 million British homes. The jobs generated during its construction will reach 2,300.
The project has the sale of all its long -term energy already fixed price through a contract for differences (CFD) awarded by the British Government, and a long -term energy purchase agreement (PPA) signed with Amazon in 2024.
The operation will start after the agreement signed on July 9 with 24 international banks, for a Financing for an approximate amount of about 4.1 billion euros. The operation, enclosed in 40%, becomes one of the largest of its type closed to date and will cover a substantial part of the total investment in the project, estimated at approximately 5.2 billion, without consolidating the debt in the financial statements of any of the partners.
This agreement involves the expansion of Iberdrola’s collaboration with the group of renewables of Abu Dhabi, which was reflected in the Strategic Agreement worth 15,000 million euros which signed the two parties during the UN Climate Conference in December 2023, to jointly develop clean energy projects in key markets such as Germany, the United Kingdom and the United States.
“An important milestone”
The Alliance has already meant the implementation of the Baltic Eagle Marine Park, the first project completed from its alliance. With a capacity of 476 MW, SIt will use clean energy at about 475,000 homes and will reduce CO₂ emissions in about 800,000 tons per year. Balític Eagle thus joins the other two marine wind farms of Iberdrola in the German Baltic: Wikinger, 350 MW, already in operation and Windanker, 315 MW, which It will enter into operation in 2026.
The president of the Spanish energy, Ignacio Galánsaid Thursday that “today we mark an important milestone in our global agreement with MASDAR, a partner who shares our vision and our commitment to energy security, competitiveness and compliance with ambitious climatic objectives. Unite forces with MASDAR in the Marine Wind Park East Anglia Three It will also allow us to accelerate our investment plans in the United Kingdomwhich reach 28,000 million euros until 2028, mainly in transport and distribution networks and in renewable energy ”.
“The end of the Baltic Eagle Park once again demonstrates Iberdrola’s ability to execute large projects and reinforces our presence in the German Baltic“The president of Iberdrola said.
For his part, the president of Masdar and Minister of Industry of Arab Emirates, To the jaberhe said that his company and Iberdrola “continue to forge one of the Larger and solid strategic agreements in clean energy to accelerate the growth of green energy capacity in Europe and worldwide. Marine wind energy will play a crucial role in global energy transformation and projects such as Baltic Eagle and East Anglia Three have significant advances towards clean energy objectives in the main European countries. With demand increasing due to the exponential growth of AI and the rise of emerging markets, these projects are more important than ever. “
