The Diplomat
Iberdrola has bought to the Swiss firm Energy Infrastructure Partners (EIP) of a 49% minority stake in the Wikinger offshore wind farm, which the company operates in German waters in the Baltic Sea, for 700 million euros, the company informed the Spanish Securities and Exchange Commission (CNMV).
This concludes a transaction whose agreement was announced in mid-September and which involves the entry of a new partner in this renewable facility, in which Iberdrola will maintain a majority stake of 51%.
According to the terms of the transaction, the valuation of 100% of Wikinger amounts to around 1,425 million euros. Iberdrola, which will continue to control and manage the asset, will continue to provide operation and maintenance services and other corporate services to the company. EIP is a Swiss infrastructure investment firm focused on the global energy transition.
Wikinger is the first offshore wind farm that the group chaired by Ignacio Galán developed alone. Since its entry into operation in 2018, with an installed capacity of 350 megawatts (MW), it supplies approximately 350,000 German households.
With this transaction, Iberdrola is making progress in fulfilling its asset rotation plan, which will enable the financing of new renewable projects under development.
