Iberdrola, a Spanish energy company, sold its 49 per cent ownership of the Wikinger offshore wind farm in Germany for $700 million. The share was sold to Energy Infrastructure Partners (EIP), a Swiss infrastructure investment firm that specialises in the world’s energy transformation. After the sale, Iberdrola will retain its remaining 51 per cent stake in the offshore wind farm and continue to manage the asset.
For the 350MW wind farm, it will provide operations and maintenance services. With the signing of the agreement, the Wikinger offshore wind farm’s overall value has reached almost €1.425 billion. The offshore project, which was completed in 2018, is considered as one of Iberdrola’s hallmark initiatives. During its operational life, it has supplied renewable energy to almost 350,000 German homes. Wikinger is also the first offshore wind farm that Iberdrola developed independently. The agreement is anticipated to support the company’s asset rotation strategy, which aims to finance developing renewable energy projects. Iberdrola currently has a vast pipeline of projects in development including 4GW of secured offshore wind capacity, and 3GW of under construction capacity.
In August 2022, Iberdrola started commissioning two solar power facilities in Extremadura, a part of western Spain bordering Portugal. The Majada Alta and San Antonio power plants are in Cedillo, Cáceres. The two solar photovoltaic (PV) plants would have a combined capacity of 100 MW, which is sufficient to power 45,000 households.