The Diplomat
Iberdrola will develop its third offshore wind project in the Baltic Sea, Windanker, with an installed capacity of 300 MW and a planned investment of 800 million euros, according to the company.
The project will strengthen the Baltic Hub led by Iberdrola in Germany, which will add more than 1,100 MW of installed capacity, after a joint investment of around 3.5 billion euros. The Hub also includes the Wikinger (350 MW) offshore wind farm, in operation, and the Baltic Eagle (476 MW), under construction.
Knowledge of the Baltic Sea and the evolution of offshore wind technology will allow the Spanish energy company to take advantage of the synergies of the joint operation of the farms integrated in the Baltic Hub, as well as maximise the efficiency of Windanker, which will incorporate new-generation, high-power offshore turbines of around 15 MW. Other synergies could come in its construction, as its execution coincides with the development of the wind farms of the East Anglia Hub complex in the United Kingdom.
The project could come into operation in 2026 and most of the electricity generated by this facility is expected to be allocated to long-term power sales contracts in the German market.
Germany plans to develop 20,000 MW of offshore wind capacity by 2030; a target that could be revised upwards following this spring’s approval of an increase to 65% CO2 emission reduction by 2030; which will be 88% by 2040, with the aim of reaching climate neutrality by 2045; five years earlier than the initial commitments. Regulation in Germany is characterised by stability and predictability, creating a framework of confidence for renewable energy developers.
Focused on countries with ambitious offshore wind targets, Iberdrola is a world leader in offshore wind energy development, with a project portfolio and operating assets of approximately 38,000 MW.
In Europe, it operates offshore wind farms with 1,300 MW of capacity in Germany (Wikinger) and the UK (East Anglia ONE and West of Duddon Sands), while it is progressing with the construction of another almost 1,000 MW in Germany (Baltic Eagle) and France (St. Brieuc). The company also has an extensive portfolio of projects in the UK, France and Germany, as well as in new growth platforms such as Ireland, Sweden, Poland and Denmark.
In the United States, Iberdrola is a leader and pioneer in the offshore market, with wind farms such as Vineyard Wind 1 (800 MW), the first offshore wind project in the country to close its financing, the construction of which will begin shortly. It also maintains the right to take control of this project during its operational phase and is accelerating the development of more than 2,000 MW of capacity in the Park City Wind and Commonwealth Wind projects.
Through Avangrid, Iberdrola is also the sole owner of the Kitty Hawk development area in North Carolina, with a potential capacity of 2,500 MW; an initiative that has already begun the BOEM permitting process for the first of the offshore wind farms to be developed in the area, Kitty Hawk North (800 MW).
In the rest of the growth regions, Iberdrola is accelerating its expansion in the offshore wind segment in Asia, with a significant portfolio of projects in Japan and Taiwan, as well as in other emerging markets, such as Brazil.
