Iberdrola and Masdar have announced a €5.2bn joint investment in the East Anglia THREE offshore wind farm in the UK. This is the largest offshore wind transaction of the decade.

Under the agreement, each company will hold a 50% stake in the asset and will co-govern it.

Located off the coast of Suffolk in the UK, East Anglia THREE will become one of the two largest offshore wind farms in the world when it enters service in the fourth quarter of 2026. It will power 1.3 million British homes.

The companies also announced the full energization of their 476 MW Baltic Eagle project in Germany. It will provide renewable energy to around 475,000 households while reducing carbon dioxide emissions by around 800,000 tons per year.

Baltic Eagle is the second of Iberdrola's three major wind projects in Germany, alongside Wikinger (350 MW, in operation) and Windanker (315 MW, in planning).

These developments advance the €15bn strategic partnership between the two companies to accelerate the deployment of clean energy in key markets, including the United Kingdom, Germany, and the United States.

Signed in December 2023, the Masdar-Iberdrola partnership is one of the largest bilateral alliances in the global clean energy sector. These projects underscore Masdar and Iberdrola's commitment to tripling global renewable energy capacity by 2030.


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