Japan’s Kansai Electric Power has signed a share purchase agreement with Iberdrola to take part of 315 MW Windanker offshore wind project, being built in the German Baltic Sea.
The Japanese electric company will co-invest in the asset through its subsidiary Windanker Investco, reaching a 49% stake, while Iberdrola will retain control with the remaining 51%.
Iberdrola will control and manage the assets, providing construction, operation, maintenance, and other corporate services.
The Windanker wind farm will feature 21 wind turbines with a unit power of 15 MW and has already sold 100% of its production through long-term contracts.
The offshore wind farm will be operational in the last quarter of 2026.
"This operation will allow us to accelerate our growth in offshore wind with a strategic partner like Kansai. The Windanker wind farm, whose energy is already sold to industrial customers on a long-term basis, demonstrates the potential of renewables to promote the industrialization of Europe with indigenous, clean, and competitive energy," said Iberdrola's president, Ignacio Galán.