Wedoany.com Report-May 2, Iberdrola, a Spanish energy company, has entered into a strategic agreement with Kansai, a Japanese power company, to co-invest in the 315MW Windanker offshore wind farm located in the Baltic Sea off Germany. The deal values the wind farm at approximately €1.28 billion.

Under the agreement, Iberdrola will hold a 51% majority stake, retaining control and management of the asset, including operation, maintenance, and other corporate services. Kansai has held a 49% stake in Windanker since December 2024, following the completion of all required regulatory approvals.

In February 2024, Iberdrola Chairman Ignacio Galan and Kansai Executive Vice President Toru Kuwahara announced an expanded strategic alliance aimed at advancing electrification worldwide. They stated: “This collaboration will focus on various power grid and renewable energy projects in different countries.” The Windanker partnership is a key outcome of this commitment, strengthening their joint efforts in renewable energy development.

The Windanker wind farm will feature 21 turbines, each with a 15MW capacity, and is expected to commence operations in the last quarter of 2026. The project has secured long-term contracts for 100% of its energy output, ensuring stable revenue streams.

Iberdrola has also partnered with Energy Infrastructure Partners to co-invest in the Wikinger offshore wind farm, further expanding its offshore wind portfolio. Additionally, Iberdrola and Kansai are collaborators in Electricity North West (ENW), a UK electricity distribution company. In October 2024, Iberdrola acquired an 88% stake in ENW, with a Kansai-led consortium owning the remaining 12%.

The Windanker project underscores Iberdrola and Kansai’s dedication to advancing renewable energy infrastructure. By leveraging their combined expertise, the companies aim to contribute to sustainable energy goals in Europe and beyond. The wind farm’s strategic location in the Baltic Sea positions it to deliver clean energy efficiently, supporting the region’s transition to low-carbon power sources.

This collaboration enhances Iberdrola’s leadership in offshore wind development while fostering international partnerships to meet global energy demands. The agreement with Kansai reflects a shared vision of promoting renewable energy projects that drive economic and environmental benefits, aligning with industry trends toward sustainable power generation.