Masdar, Iberdrola launch €5.2B UK wind project, energize German farm

BAKU, Azerbaijan, July 10. Masdar and Iberdrola have reached two major milestones under their 15 billion euro strategic clean energy partnership, launching a 5.2 billion euro co-investment in the UK’s East Anglia THREE offshore wind farm and completing the 476 MW Baltic Eagle project in Germany, Trend reports.

The East Anglia THREE project, located off the Suffolk coast, will become one of the world’s largest offshore wind farms, powering 1.3 million UK homes upon commissioning in late 2026. The co-investment agreement gives each partner a 50% stake and co-governance, with project financing of approximately 3.5 billion British pounds secured from 24 banks.

Meanwhile, the Baltic Eagle wind farm has been fully energized and will supply clean electricity to about 475,000 German households, avoiding 800,000 tons of CO₂ emissions annually. It is the first project completed under the Masdar–Iberdrola alliance and marks Masdar’s debut in the German market.

Both projects are key components of the companies’ joint efforts to accelerate offshore wind deployment in Europe and globally. Further investments across Europe and other markets are expected under the ongoing partnership.