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Iberdrola Sells Shares in Wikinger

Iberdrola sells 49% of Wikinger, its first offshore wind farm in Germany, to Energy Infrastructure Partners.

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Iberdrola sells 49% of Wikinger, its first offshore wind farm in Germany, to Energy Infrastructure Partners. The transaction amounts to €700 million. However, the company retains a 51% majority stake in the Wikinger project.

Iberdrola leader in offshore wind energy

Iberdrola, chaired by Ignacio Galan, is a world leader in offshore wind energy. The Wikinger Park is one of its flagship projects. This is the first wind farm developed by the group.

The wind farm has an installed capacity of 350 MW. It has been providing clean energy to about 350,000 German households since it went into operation in 2018. For Iberdrola, this transaction for the Wikinger wind farm reaffirms its leading position.

The agreement, signed with Energy Infrastructure Partners, provides for a valuation of Wikinger. The valuation would amount to approximately €1.425 billion. Iberdrola will continue to control and manage this asset, directing the operation and maintenance services.

Wind power development

The Spanish company Iberdrola will gradually deploy approximately 3,000 MW currently under construction. In addition, 4,000 MW have been secured and other projects are currently under development. In addition, the company has a range of projects in various stages of development in the UK, Sweden and Taiwan

The group has nearly 1,300 MW of offshore capacity in operation since the end of June 2022. The transaction advances Iberdrola’s asset rotation plan. The objective is to finance new renewable projects under development.

In the United States, the group continues to expand, notably with the construction of Vineyard Wind. This project should make it possible to meet the energy needs of approximately 1 million households. In total, approximately 5,000 MW of offshore wind projects are being developed in the United States. These projects are parallel to those of Saint-Brieuc, in French waters, or Windanker in Germany.

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