Iberdrola has finalised a strategic partnership with Kansai Electric Power Company of Japan to co-invest in the 315 MW Windanker offshore wind farm in the Baltic Sea. Following regulatory approvals, Iberdrola will hold a 51% majority stake in the project.
The agreement values the entire wind farm at approximately €1.28 billion. Iberdrola will retain control of the asset, overseeing operations, maintenance, and associated corporate services. Windanker will feature 21 turbines, each with a capacity of 15 MW, and is expected to enter operation in the final quarter of 2026. The project’s full output has already been secured through long-term power purchase agreements.
