Iberdrola and Kansai finalise $1.45 B offshore project
Iberdrola and Kansai Electric Power Co. have closed a $1.45 billion deal for the 315 MW Windanker offshore wind farm in the German Baltic Sea.
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Germany: Iberdrola and Kansai Electric Power Co. have concluded a strategic partnership to co-invest in the 315 MW Windanker offshore wind farm, located in the German Baltic Sea. The project, valued at approximately $1.45 B (€1.2 B), is set to feature 21 Siemens Gamesa 15 MW turbines and is expected to commence operations in the last quarter of 2026. Under the terms of the agreement, Iberdrola will retain a 51 % majority stake, while Kansai will hold a 49 % minority interest.
This collaboration marks a significant step in both companies’ efforts to expand their offshore wind portfolios. For Iberdrola, Windanker is part of its Baltic Hub initiative, which aims to achieve over 1.1 GW of installed capacity by 2026. Kansai Electric has now participated in five offshore wind projects outside Japan, bringing its total overseas offshore wind capacity to over 3 GW.
The Windanker project has already secured long-term power purchase agreements for 100 % of its expected output, underscoring the growing demand for renewable energy in Europe. As the energy sector continues to shift towards sustainable sources, this partnership exemplifies the global collaboration needed to accelerate the transition to clean energy.
Source: Offshore Wind
#German Baltic Sea#Iberdrola#Kansai Electric Power#offshore wind farm#renewable energy#Siemens Gamesa#wind power#Windanker
