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Iberdrola has entered into a strategic agreement with Kansai Electric Power, Japan’s second-largest electricity provider and a major player in Asia, to co-invest in the 315 MW Windanker offshore wind farm, located in the Baltic Sea. Following regulatory approvals, Iberdrola will hold a 51% majority stake in the project, supporting Europe’s drive for energy independence.
The deal values the entire Windanker wind farm at approximately €1.28 billion. Iberdrola will assume control of the asset, overseeing operations, maintenance, and corporate services.
This partnership builds on the companies’ existing relationship in Electricity North West (ENW), a UK electricity distribution firm. Iberdrola acquired an 88% stake in ENW in October, while the remaining 12% is held by a Kansai-led consortium.
In February, Iberdrola Executive Chairman Ignacio Galán and Kansai Executive Vice President Toru Kuwahara announced an expanded global alliance to accelerate electrification. The partnership will pursue new projects in renewable energy and power grids across multiple countries.
Windanker will feature 21 wind turbines, each with a capacity of 15 MW, and is expected to be operational by Q4 2026. The entire energy output has already been secured through long-term contracts.
This alliance underscores Iberdrola’s strategic approach to growth—advancing decarbonization through partnerships while maintaining financial stability.
