- After obtaining the necessary regulatory approvals, the companies have closed the agreement announced in December 2024 to co-invest in the Windanker offshore wind farm, which has a capacity of 315 MW
- Together with the closing of the acquisition of Electricity North West, both companies strengthen their alliance to accelerate electrification in different countries
Iberdrola has closed a strategic agreement with Kansai, Japan's second largest electricity company and one of the largest in Asia, to co-invest in the 315 MW German offshore wind farm Windanker, located in the Baltic Sea. After obtaining all the necessary regulatory approvals, Iberdrola will have a majority stake of 51% in the assets and thus accelerates energy independence in Europe.
According to the terms of the operation, the valuation of 100% of this wind farm amounts to around 1,280 million euros. Iberdrola will control and manage the assets, providing operation and maintenance services and other corporate services.
In addition, both companies are partners in Electricity North West (ENW), an electricity distribution company in the United Kingdom, where Iberdrola acquired 88% last October, with the remaining 12% owned by a consortium led by Kansai.
Last February, Ignacio Galán, executive chairman of Iberdrola, and Toru Kuwahara, executive vice president of Kansai, announced the expansion of their strategic alliance with the aim of accelerating electrification globally. This collaboration will focus on various power grid and renewable energy projects in different countries
Windanker will have 21 wind turbines with a unit capacity of 15 MW and will be operational in the last quarter of 2026. Likewise, the asset has already sold 100% of its production with long-term contracts.
The policy of alliances is Iberdrola's strategy to accelerate its growth and promote the decarbonisation of the economy while maintaining its financial strength.
Source: Iberdrola
