Iberdrola sells 49 of Wikinger to EIP for 700 million to boost coastal wind portfolio

Iberdrola sells 49 of Wikinger to EIP for 700 million to boost coastal wind portfolio

The company strengthens its coastal wind leadership with,000 MW under construction,,000 MW secured and a large channel of systems under development.
Iberdrola has inked an agreement with Energy structure mates( EIP) for the trade of a 49 stake in Wikinger coastal wind ranch in Germany. The sale is valued at around€ 700 million, and Iberdrola will maintain a maturity stake of 51. According to the agreement, Wikinger’s total valuation amounts to roughly€1.425 billion. Iberdrola will continue to control and manage this asset, leading the operations and conservationservices.Energy structure mates( EIP) is a leading Swiss structure investment company concentrated on the global energy transition, with a successful track record as a long- term shareholder in the assiduity and experience in structure and renewabletechnology.Iberdrola, chaired by Ignacio Galan, is a world leader in coastal wind power. Wikinger is one of the company’s flagship functional systems and was the first coastal wind ranch developed by the group on its own. With an installed capacity of 350 megawatts( MW) it has been supplying clean energy to roughly,000 German homes since it was commissioned in 2018. The sale farther advances Iberdrola s asset gyration plan to finance new renewable systems underdevelopment.IBERDROLA, A FIRM COMMITMENT TO OFFSHORE WIND Iberdrola reaffirms its commitment to coastal wind, with nearly,300 MW of coastal capacity in operation by the end of June 2022. In addition, it has,000 MW under construction, another,000 MW secured and an expansive design channel underdevelopment.Elsewhere, the group has two coastal wind granges in operation West of Duddon Sands, and East Anglia One commissioned in 2017 and 2020 independently and located in theUK.In the United States, Iberdrola group has begun construction of the country’s first marketable- scale coastal wind ranch Croft Wind. Located off the seacoast of Massachusetts, its 800 MW capacity will meet the energy requirements of 1 million homes. In total, Iberdrola has roughly,000 MW of coastal wind systems under development in the United States, including Park City Wind with 804 MW and state Wind with,232MW.In Germany, the group has started construction of 476- MW Baltic Eagle design in the Baltic Sea. Coming time, construction will begin on Windanker, which will have a capacity of with 308MW.These new wind granges will be joined by Saint- Brieuc, in French waters, which is anticipated to come into operation in 2023. It’ll have a capacity of 496 MW and will be located off the seacoast of Brittany, 20 kilometresoffshore.Iberdrola’s global coastal wind channel includes a wide range of systems at different stages of development in countries similar as the United Kingdom, the United States, Ireland and Sweden, along with an expanding portfolio in countries similar as Japan, Taiwan, the Philippines and South Korea.

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