Financial Close reached for the 1.4 GW Offshore Wind Farm in UK

Masdar and Iberdrola announced that they have reached financial close for the 1.4 GW East Anglia THREE offshore wind farm, located off the coast of Suffolk in the southern North Sea, UK.

Project financing facilities totaling GBP3.6 billion (US$4.7 billion) have been secured with 23 banks and the Danish Export Credit Agency (EIFO), in one of the biggest such transactions in the sector and the largest ever by Masdar. The financing will cover a substantial part of the total project costs, estimated at approximately EUR5.2 billion (US$ 5.9 billion). 

The participating banks in the East Anglia THREE financing are: BBVA, HSBC, ING, NatWest, SMBC, MUFG, Bank of China, Crédit Agricole, CaixaBank, Santander, BNP Paribas, Helaba, Barclays, ANZ, Rabobank, FAB, ICO, Abanca, Kutxabank, Standard Chartered Bank, Bank of Ireland, CIC and Siemens Bank.

Crédit Agricole CIB and MUFG acted as financial advisors for the transaction and A&O and Shearman acted as legal advisor to the borrower

Masdar and Iberdrola announced their co-investment in East Anglia THREE this month, with each party taking a 50 percent stake. Once operational in Q4 2026, delivering enough clean energy to power 1.3 million British homes.