Masdar and Iberdrola have moved forward with two large offshore wind projects in Europe. The companies announced the completion of the Baltic Eagle wind farm in Germany and the co-investment in East Anglia THREE in the UK. Masdar and Iberdrola formed a partnership in December 2023. The aim is to push clean energy growth in Europe, the US, and other regions.
East Anglia THREE is a 1.4 gigawatt offshore wind farm off the Suffolk coast. It will deliver clean power for about 1.3 million homes in the UK. A contract for difference with the UK Government will help secure its revenue for 15 years. The project will also supply electricity to Amazon through a power purchase deal signed in 2024. Around 2,300 jobs are expected during the build phase, plus about 100 permanent jobs later. The financing deal was signed for about £3.5 billion with backing from 24 banks. The project is planned to start operations by late 2026.
Baltic Eagle is Masdar’s first wind project with Iberdrola. It is located in the German Baltic Sea and has a capacity of 476 megawatts. The wind farm is expected to power about 475,000 homes in Germany. It could help reduce about 800,000 tonnes of carbon dioxide each year.
Masdar also works on smaller renewable activities in the UAE. In Abu Dhabi, Masdar has installed solar panels on warehouse rooftops in the Khalifa Industrial Zone. These panels generate about 6 megawatts. In Sharjah, Masdar is working on a pilot solar project for parking lots. Small 50-kilowatt panels shade cars while producing electricity for nearby buildings. Masdar is also supporting a test for tiny off-grid solar kits in rural farms near Al Ain, with each kit generating about 3 kilowatts to power small equipment and water pumps.
