Iberdrola has finalised an agreement with Kansai to jointly invest in the 315 MW Windanker offshore wind farm, located in the Baltic Sea. After receiving all necessary regulatory approvals, Iberdrola will hold a 51 per cent stake in the project. According to the deal, the total valuation of the wind farm stands at approximately €1,280 million.
Iberdrola will retain control and management of the asset, handling operations, maintenance, and other corporate services. The wind farm will consist of 21 turbines, each with a capacity of 15 MW. The project is expected to become operational in the last quarter of 2026.
Both the companies are also partners in Electricity North West (ENW), a UK-based electricity distribution company, where Iberdrola increased its ownership to 88 per cent in October 2024, with the remaining 12 per cent held by a consortium led by Kansai.
