The joint venture between Abu Dhabi Future Energy Company – Masdar and Iberdrola recently announced that it has successfully completed turbine installations at the 476 MW Baltic Eagle offshore wind farm. When fully operational, Baltic Eagle will supply around 475,000 households with renewable energy while reducing carbon dioxide emissions by about 800,000 tons per year.
“The installation of the 50th and final turbine of the Baltic Eagle offshore wind farm marks an exciting milestone. With the project progressing according to schedule, Baltic Eagle is set to power 475,000 German households with clean, renewable energy,” stated Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, COP28 president and chairman of Masdar.
“This achievement also strengthens Masdar’s partnership with Iberdrola, driving significant expansion in our offshore wind portfolio and advancing the global energy transition,” he added.
Masdar JV installs 50 wind turbines
The 50 installed wind turbines, each with a unit capacity of 9.53 MW, were supplied by Vestas and installed by the shipping company Fred. Olsen Windcarrier.
“The completion of turbine installation at the Baltic Eagle wind farm is an important milestone in what is a record year for Iberdrola’s offshore wind activity. With this project, Iberdrola is on track to have nearly 5,000 MW of offshore capacity globally by the end of 2026,” said Ignacio Galán, Iberdrola’s executive chairman.
Once fully operational, Baltic Eagle, the second offshore wind farm in Iberdrola’s Baltic Hub, will make a considerable contribution to Germany’s energy transition, providing homegrown clean energy to almost half a million homes, whilst reducing emissions.
€15 billion agreement to explore projects in key markets
Masdar and Iberdrola signed a partnership to jointly invest in Baltic Eagle in July 2023. At COP28, the two companies also announced a further €15 billion agreement to explore the joint development of offshore wind and green hydrogen projects in key markets including Germany, the U.K., and the U.S.
“Today’s announcement is an important landmark in the progress of Baltic Eagle, the project which launched our partnership with Iberdrola in July last year and brought together two companies with long histories of pioneering clean energy,” Masdar’s CEO Mohamed Jameel Al Ramahi said.
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Baltic Hub’s capacity to exceed 1.1 GW
Masdar has a long-standing commitment to advancing offshore wind projects across the globe. It is aiming for a renewable energy portfolio capacity of 100GW by 2030, supporting the target of the historic UAE Consensus to triple global renewables capacity by the end of this decade.
By 2026, Iberdrola’s Baltic Hub will have a total capacity of more than 1.1 GW and trigger investments of around €3.7 billion. Notably, Baltic Eagle is the second of Iberdrola’s three major wind farm projects in Germany, along with Wikinger and Windanker. Collectively, these offshore wind farms form Iberdrola’s Baltic Hub.
Besides, Baltic Eagle is Masdar’s first project with Iberdrola, its first in Germany, and resulted in the company’s largest-ever euro-denominated financing.
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