Iberdrola develops its third offshore wind farm in the Baltic Sea

Iberdrola announced that it has secured the step-in right for €800 million (USD 924.12 million) planned investment project in the Baltic sea, named Windanker

Iberdrola develops its third offshore wind farm in the Baltic Sea

On 5th November, Iberdrola announced that it has secured the step-in right for €800 million (USD 924.12 million) planned investment project in the Baltic sea, named Windanker.

The project is scheduled to start operation in 2026 with majority of the output projected to be sold in the German market via renewable energy long-term power contracts. The Windanker project will have a capacity of 300MW and €800 million (USD 924.12 million) in total investment.

The project will reinforce the company's Baltic Hub in Germany which also includes the operational Wikinger offshore wind farm (350 MW) , and Baltic Eagle (476 MW), under construction. Following a total investment of some EUR 3.5 billion, the Hub will have an installed capacity of over 1.1 GW by 2026, underpinning the company's strategic focus in the Baltic Sea.

The Federal Network Agency (Bundesnetzagentur) confirmed on 4th November that the Windanker GmbH, a subsidiary of Iberdrola, has exercised its right of entry to the pre-developed site. O-1.3.

Iris Stempfle, Managing Director of Iberdrola Renovables Germany, said, “With this third offshore wind farm project in Germany, Iberdrola is underlining its commitment to Germany as one of the strategically important markets. The realisation of Windanker on a zero-bid basis confronts us with challenges due to the special conditions in the Baltic Sea. We are able to master these challenges through synergies with our Baltic Hub. But until offshore wind energy is fully integrated into the market, we consider an intelligent transitional market design to be necessary."

Iberdrola is simultaneously building the East Anglia Hub in the UK and have other projects planned in the European Baltic Sea in the future.

Prime Minister of Mecklenburg-Vorpommern Manuela Schwesig said: “We need more offshore wind farms for the energy transition to succeed. This is an economic opportunity for Mecklenburg-Vorpommern. The construction and operation of the wind farm will create additional jobs. Additionally, we have the opportunity to locate climate-friendly industries in Mecklenburg-Vorpommern in the upcoming years that produce on the basis of wind power."

Windanker will be on stream in 2026 and will be the first offshore project in the German Baltic Sea at market conditions. Most of its electricity output is expected to be allocated to long-term power purchase contracts in the German market.

Iberdrola is a global leader in development of offshore wind and has operating assets and a project pipeline of approximately 38,000 MW globally. The company has launched a record investment plan for the next decade with projected investments of €150 billion (USD 173.27 billion).