Iberdrola and Japan’s Kansai Electric Power Company have finalised the strategic agreement announced in December 2024 to co-invest in the Windanker offshore wind farm, located in the Baltic Sea. Following receipt of all necessary regulatory approvals, both companies have confirmed a joint investment valued at €1.28 billion.

The Windanker project, with an installed capacity of 315 megawatts (MW), marks a significant milestone in both firms’ efforts to accelerate the global energy transition. The wind farm will feature 21 turbines, each with a capacity of 15 MW, and is scheduled to become operational in the final quarter of 2026. The entirety of its energy output has already been sold through long-term power purchase agreements, ensuring financial stability and viability.

Iberdrola will hold a majority stake of 51% in the project and will oversee operations and maintenance, reinforcing its leadership in renewable energy across Europe and contributing to the continent’s energy independence.

Kansai, Japan’s second-largest electric utility, further strengthens its partnership with Iberdrola beyond this project. The two companies are also partners in Electricity North West (ENW), a UK electricity distribution network operator. Iberdrola currently owns 88% of ENW, with the remaining 12% held by a Kansai-led consortium.

Back in February, Iberdrola Chairman Ignacio Galán and Kansai Executive Vice President Toru Kuwahara announced the expansion of their strategic alliance, aiming to accelerate electrification worldwide. The collaboration will focus on a range of future projects in electricity grids and renewable energy across multiple countries.