UAE's Masdar tipped for big stake in $1.5bn offshore wind farm that will help power Amazon

UAE renewables group Masdar is set to take a major stake in Iberdrola’s Baltic Eagle offshore wind project in German waters, it was claimed today (Wednesday).

Masdar will buy a share of up to 49% in Baltic Eagle, a 476MW project valued at about $1.5bn, said Spanish financial newspaper Expansion citing unnamed sources.

UAE renewables group Masdar is set to take a major stake in Iberdrola’s Baltic Eagle offshore wind project in German waters, it was claimed today (Wednesday).

Masdar will buy a share of up to 49% in Baltic Eagle, a 476MW project valued at about $1.5bn, said Spanish financial newspaper Expansion citing unnamed sources.

berdrola also declined to comment when approached by Recharge.

Baltic Eagle is the next element of Iberdorla’s €3.5bn gigawatt-scale Baltic Hub ambitions.

Due for commissioning in 2024 using 50 Vestas turbines, Baltic Eagle will join the already operating 300MW Wikinger and the planned 300MW Windanker to create the Baltic Hub, where Iberdrola hopes to have 1.1GW operating by 2026.,

Iberdrola earlier this year sealed a deal with Amazon that will see the web retail behemoth take 1.1TWh annually from the Windanker and Baltic Eagle projects.

Amazon is the world’s largest procurer of renewable power, much of it to support the energy-hungry data centre operations of its Amazon Web Services unit