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Masdar and Iberdrola have reached financial close on the 1.4 GW East Anglia THREE offshore wind project—one of the largest offshore wind deals of the decade.
The partners secured £3.6 billion (€4.1 billion) in project financing from 23 international banks and the Danish Export Credit Agency (EIFO). This marks Masdar’s largest-ever financing and one of the sector’s most significant to date. The financing will fund a major portion of the project’s total €5.2 billion cost. The facility was oversubscribed by over 40%, underscoring strong lender confidence in both the project and its backers. “The level and profile of investor interest in this financing deal – the largest we have ever signed at Masdar – reflects our position as a global leader in sustainable finance and investor appetite for high-quality renewable energy assets that deliver impact at scale. Today’s announcement represents a significant step forward in our partnership with Iberdrola – and in the UK’s clean energy journey, supporting the nation in meeting its energy transformation objectives. We look forward to collaborating further with Iberdrola on other gigawatt-scale greenfield projects that will help shape the future of clean energy in the UK and beyond.” said Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar.
