The Spanish newspaper Cinco Días reported today, citing unnamed market sources, that the Abu Dhabi-based company Masdar intends to purchase a 49% stake in Iberdrola's largest offshore wind energy project, East Anglia 3, located off the coast of Scotland. The report added that the acquisition value will amount to approximately 2 billion euros (2.14 billion dollars), with the total value of the project estimated at around 4 billion euros. Iberdrola declined to comment on the report, stating that Masdar cannot discuss "market speculation" due to policy reasons.
Masdar, a renewable energy company partially owned by the UAE sovereign wealth fund Mubadala, has already signed an exclusive agreement with Iberdrola to develop the Baltic Eagle project, a 476-megawatt offshore wind farm in German waters in the Baltic Sea. The construction of East Anglia 3 began last year and is scheduled to commence operations in 2026, according to Iberdrola. The project is expected to have a capacity of 1,400 megawatts and supply energy to approximately 1.3 million homes.
This wind farm is part of Iberdrola's comprehensive offshore wind energy complex in the British North Sea, known as East Anglia Hub, which includes East Anglia 3 and two previous projects. It is expected to generate 2,900 megawatts, requiring total investments of 6.5 billion euros.
