Japanese utility Kansai Electric Power has entered into a share purchase agreement with Iberdrola to acquire a 49% stake in the Windanker offshore wind farm project in Germany.
Kansai’s subsidiary, Windanker Investco, will hold the stake, subject to approval from German authorities, while Iberdrola will retain the remaining 51%.
This marks the beginning of Kansai’s collaboration with Iberdrola on international renewable energy projects. The Windanker project will be Kansai’s fifth offshore wind farm overseas, increasing its net overseas generation capacity to 3,007 MW.
The Windanker offshore wind farm, located in the Baltic Sea, will feature 21 bottom-fixed wind turbines and has a planned installed capacity of 315 MW. The total investment in the project exceeds €1 billion ($1.04 billion). The electricity generated will predominantly be sold under long-term power purchase agreements in the German market.
Installation works are scheduled to take place between 2025 and 2026, with commissioning expected by the end of 2026. Dutch company Van Oord will oversee the transport and installation of monopile foundations and interconnecting cables using its 8,000t heavy lift vessel, Svanen.
The Windanker project is part of Iberdrola’s Baltic Hub in Germany, which includes the operational Wikinger wind farm (350 MW) and the Baltic Eagle project (476 MW), with a combined investment of €3.5 billion, contributing over 1,100 MW of installed capacity.