Iberdrola has finalized the sale of a 49% stake in its 476 MW Baltic Eagle offshore wind farm to United Arab Emirates-based renewable energy developer Masdar.
Iberdrola has acquired a controlling stake of 51% in the Baltic Eagle project, assuming control over the assets and providing operational, maintenance, and other corporate services. The construction of Baltic Eagle, located 30 km offshore Pomerania in the German Baltic Sea, commenced in 2022. The wind farm will incorporate 50 Vestas V174-9.5 MW turbines and is set to become operational by the end of 2024. It is expected to produce 1.9TWh of clean electricity annually, sufficient to power 475,000 German households and prevent the emission of 800,000 tonnes of CO₂ annually.
The project has secured a minimum regulated tariff of EUR64.6/MWh for the initial 20 years, with long-term contracts in place for the sale of its entire output. Including these three projects, Iberdrola's installed capacity in the Baltic Sea will reach 836 MW, representing a total investment of US$2.63 billion.
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