Masdar, Abu Dhabi’s state-owned renewable energy firm, and Spain’s Iberdrola are partnering on a significant wind power venture in the UK, planning a joint investment in the 1.4 GW East Anglia THREE wind farm, TAQA, Masdar’s parent company, announced in a statement.
The total cost of the project is estimated at approximately €5.2 billion ($6.1 billion). According to the statement, around €4.1 billion in project financing has already been secured through agreements with 24 international banks.
As part of the deal, Masdar and Iberdrola will each hold a 50% stake in East Anglia THREE, which is situated off Britain’s eastern coast and is slated to begin operations in the final quarter of 2026.
Masdar has an established track record of renewable energy investments in the UK and continues to expand its portfolio across Europe, Asia, and the United States. The company’s growth aligns with parent TAQA’s ambitious target to reach 150 GW of installed capacity by 2030.
Recently, Masdar invested roughly $200 million to acquire a 49.9% share in a solar asset portfolio managed by Spain’s Endesa. The company also made notable acquisitions last year, including Greece’s Terna Energy and Spain’s Saeta Yield, underscoring its strategy to accelerate global clean energy deployment.
https://renewables.az/en/news/uae-s-masdar-iberdrola-invest-in-1-4-gigawatt-wind-farm-in-the-uk