Expanding Collaboration: Iberdrola and Kansai Electric Power to Grow Renewable Energy Portfolio

Spain’s Iberdrola and Japan’s Kansai Electric Power have announced plans to further their collaboration in the renewable energy sector. As part of this initiative, Kansai Electric Power is set to acquire a 49 percent stake in an under-construction offshore wind farm in Germany, marking its entry into the German offshore market.

The agreement between the two companies values the wind farm, known as Windanker, at €1.28 billion. With a generation capacity of 315 MW, Kansai’s share represents 105 MW of the total capacity. The wind farm, located near the eastern border of Germany with Poland, is expected to be completed by 2026 and will feature 21 15 MW turbines.

Strategic Growth

Iberdrola sees this collaboration as a strategic move to accelerate its growth in offshore wind energy. The company aims to double its offshore wind capacity by 2026, with plans to reach 4,800 MW. Currently operating four offshore wind farms in Germany, France, and the UK, Iberdrola is committed to promoting the industrialization of Europe through clean and competitive energy solutions.

“This operation will allow us to accelerate our growth in offshore wind with a strategic partner like Kansai. The Windanker wind farm, whose energy is already sold to industrial customers on a long-term basis, demonstrates the potential of renewables to promote the industrialization of Europe with indigenous, clean, and competitive energy,” said Ignacio Galán, President of Iberdrola.

Expanding Overseas

Kansai Electric Power, Japan’s second-largest electric utility, sees this investment as an opportunity to collaborate with Iberdrola on overseas projects and expand its renewable energy portfolio. With this acquisition, Kansai will surpass 3 GW of net energy capacity from overseas generation investments and leverage international expertise to drive offshore wind projects in Japan’s emerging market.

This partnership marks Kansai Electric Power’s fifth overseas wind project participation, signaling its commitment to sustainable energy development on a global scale.

Overall, the collaboration between Iberdrola and Kansai Electric Power signifies a significant step towards driving renewable energy growth and fostering sustainability in the energy sector.