Spanish energy giant Iberdrola is to seek buyers for a minority stake in the Wikinger offshore wind farm in the Baltic Sea. The Expansion newspaper’s information is cited by Reuters.
According to media reports, Iberdrola wants to sell a stake to one or more financial investors in the project. To that end, they hired Santander as an advisor. So far, the two parties have declined to comment to the media.
Iberdrola tried to sell stakes in the project two years ago when it valued the Wikinger project at about 2.5 billion euros ($2.71 billion), Expansion newspaper reported.
With the Wikinger offshore wind farm, Ibderdrola has opened a window into the German electricity market. The investor has already been granted planning permission for two other offshore wind farms: Baltic Eagle (476 MW) and Wikinger Süd (10 MW). Together with Wikinger, these three wind farms, located off the coast of Rügen Island, will form the largest offshore wind complex in the Baltic Sea, with a total installed capacity of 836 MW and a total investment of €2.5 billion.
At the end of 2017, Iberdrola successfully connected the offshore wind farm to the electricity system and has since been providing 350 MW of power to the German grid and providing carbon-free energy to 350,000 homes – which is about 20 percent of the energy demand of the state of Mecklenburg-Vorpommern.
The Wikinger project consists of 70 Siemens Gamesa AD5-135 wind turbines with a unit capacity of 5 MW, installed 75 km from the coast.