| Work Detail |
Spanish electric utility company Iberdrola has agreed to sell a 49% stake in the Windanker offshore wind farm for €150m ($157m) to Japanese utility Kansai Electric Power.
According to the Spanish firm, the value of the entire Windanker project is around €1.28bn ($1.34bn). The agreement between the two companies is subject to approval from German authorities.
The wind farm, located in the German part of the Baltic Sea, has an installed capacity of 315MW and will be operational in the last quarter of 2026 and is in line with Germany’s plans to develop 30 GW of offshore wind capacity by 2030. Under the terms of the transaction, Kansai will also cover the cost of construction until the completion of the project.
Iberdrola will continue to be in charge of construction management and operation as well as maintenance and management services of the wind farm.
This is another significant deal between the pair. In October, Iberdrola bought an 88% stake in UK power supplier Electricity North West from the Japanese firm for $2.7bn. |
