Iberdrola has signed an agreement with Swiss investment firm Energy Infrastructure Partners (EIP) for the sale of a 49% stake in Wikinger offshore wind farm in Germany for €700 million (£606m).
According to the agreement, Wikinger’s total valuation amounts to approximately €1.4 billion (£1.2bn).
The Spanish energy group will continue to control and manage the asset, leading the operations and maintenance services.
Wikinger is one of the company’s flagship operational projects and was the first offshore wind farm developed by the group.
With an installed capacity of 350MW, it has been supplying clean energy to approximately 350,000 German households since it was commissioned in 2018.
