The Anonymous Widower

Masdar To Invest In Iberdrola’s 1.4 GW East Anglia Offshore Wind Project

The title of this post, is the same as that of this article on offshoreWIND.biz.

This is the sub-heading.

Iberdrola and Masdar have signed a strategic partnership agreement to evaluate the joint development of offshore wind and green hydrogen projects in Germany, the UK, and the US, which also includes an investment in Iberdrola’s 1.4 GW East Anglia 3 offshore wind project in the UK.

These first two paragraphs outline the del.

After the parties’ successful co-investment in the Baltic Eagle offshore wind farm in Germany, the new milestone of this alliance will be to achieve a further co-investment concerning the 1.4 GW East Anglia 3 offshore wind project in the UK, said the companies.

According to the partners, the deal has been under negotiation for the last few months and could be signed by the end of the first quarter of 2024. Masdar’s stake in the wind farm could be 49 per cent.

This deal appears to be very similar to Masdar’s deal with RWE, that I wrote about in RWE Partners With Masdar For 3 GW Dogger Bank South Offshore Wind Projects.

• The Iberdrola deal involves the 1.4 GW East Anglia 3 wind farm, which has a Contract for Difference at £37.35 £/MWh and is scheduled to be completed by 2026.
• The RWE deal involves the 3 GW Dogger Bank South wind farm, which doesn’t have a Contract for Difference and is scheduled to be completed by 2031.
• Both deals are done with wind farm developers, who have a long track record.
• Both wind farms are the latest to be built in mature clusters of wind farms, so there is a lot of production and maintenance data available.

I suspect, that many capable engineers and accountants can give an accurate prediction of the cash flow from these wind farms.

I will expect that we’ll see more deals like this, where high quality wind farms are sold to foreign energy companies with lots of money.

Just over five years ago, I wrote World’s Largest Wind Farm Attracts Huge Backing From Insurance Giant, which described how and why Aviva were investing in the Hornsea 1 wind farm.

Conclusion

It appears that Masdar are doing the same as Aviva and usind wind farms as a safe investment for lots of money.

December 5, 2023 - Posted by AnonW | Energy, Finance, Hydrogen | Aviva, Dogger Bank South Wind Farm, East Anglia Array, Hornsea Wind Farm, Iberdrola, Masdar, Offshore Wind Power, Wind Power