Spanish energy and electricity provider Iberdrola and UAE-based clean energy-focused developer Masdar announced today a new agreement to co-invest €5.2 billion (USD$6.1 billion) in the 1.4 GW East Anglia THREE project, marking the largest offshore wind transaction of the decade.
The new agreement follows the launch by the companies of a partnership in 2023, aimed at investing up to €15 billion in offshore wind and green hydrogen projects in Germany, UK and the U.S.
Ignacio Galán, Iberdrola’s Executive Chairman, said:
“Today is an important landmark in our global partnership with Masdar.
