MADRID, 5 Dic. (EUROPA PRESS) -
Iberdrola and Masdar, a renewable group from the Emirate of Abu Dhabi, have signed a strategic agreement to jointly invest up to 15 billion in offshore wind and green hydrogen in Germany, the United Kingdom and the United States, after the "successful" co-investment agreement already underway in Baltic Eagle (Germany), as announced this Tuesday at COP28.
The first milestone of this alliance, as detailed in a joint press release, will be to co-invest in the British East Anglia 3 offshore wind project, of 1,400 megawatts (MW), which is in the final phase of negotiation and could be signed at the end of the first quarter of 2024.
Along these lines, they have highlighted that the participation of the Masdar renewable group in this wind park could reach up to 49%.
Both firms have assured that the East Anglia 3 project is already under construction and is expected to come into operation in the fourth quarter of 2026.
They have also recalled that Iberdrola signed contracts for differences (CfD) with the United Kingdom Government in July 2022 for the sale of energy from the park at a price that will increase depending on inflation, while they have predicted that the project It will power more than 1.3 million British homes and create 2,300 jobs.
In addition, both companies have specified that they will work to jointly invest in future offshore wind and green hydrogen projects in Europe and other markets, which "could involve the participation of Iberdrola affiliate companies."
The president of Iberdrola, Ignacio Galán, has assured that, now that 118 governments have already committed at COP28 to tripling renewable energy capacity by 2030, achieving this objective will require "immediate" action by governments and the sector. private.
The UAE Minister of Industry and Advanced Technology, Chairman of Masdar and President of COP28, Sultan Al Jaber, welcomed this alliance "in which two global pioneers of clean energy, Masdar and Iberdrola, will come together to use their experience and resources to promote renewable energy in Europe and around the world.
For his part, Masdar CEO Mohamed Jameel Al Ramahi said he was "delighted" to be working once again with his strategic partner, Iberdrola, as they explore "the development of one of the largest offshore wind farms in the United Kingdom." and other projects in Europe".
