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Abu Dhabi renewable energy firm Masdar and Iberdrola have completed turbine installation at the 476-megawatt (MW) Baltic Eagle offshore wind farm in Germany.
Masdar said the 50 wind turbines, each with a unit capacity of 9.53 MW, were supplied by Vestas and installed by the shipping company Fred. Olsen Windcarrier.
Baltic Eagle wind farm will have an anticipated annual production capacity of 1.9 terawatt-hours (TWh), enough to meet the clean energy demands of 475,000 homes.
“Off-shore wind is a vital technology for the energy transition. Masdar looks forward to a long and fruitful relationship with Iberdrola that will deliver more transformative utility-scale projects, supporting the journey to net zero in Europe and beyond,” said Mohamed Jameel Al Ramahi, the CEO of Masdar.
Masdar and Iberdrola formed a partnership to jointly invest in the Baltic Eagle offshore wind farm in July 2023. The renewable firms unveiled a further €15 billion joint venture at COP28 to explore developing offshore wind and green hydrogen projects in Germany, the UK and the US.
Masdar, which is controlled by TAQA, ADNOC and sovereign wealth fund Mubadala, has invested in renewable projects around the world at different stages of development, with an overall capacity of roughly 20 gigawatts (GW) and a value of more than $30bn. The renewable energy firm expects Europe to be a key contributor to reaching its 100 GW capacity target by 2030.
The UAE’s renewable energy firm seeks to expand further in the Iberian market after clinching two deals in the region in recent months.
Last month, Masdar reached an agreement to acquire green energy firm Saeta Yield from Canada’s Brookfield in a deal valued at $1.4bn (EUR1.2bn) – the company’s second biggest green energy deal in recent months in Spain. It follows the agreement to buy a minority stake in 48 solar plants controlled by Endesa – a unit of Italy’s Enel EUR817m.
Earlier in March, the clean energy firm closed the acquisition of a 49 per cent stake in RWE’s $13.9bn (GBP11bn) UK Dogger Bank South offshore wind farm – one of the world’s largest offshore wind farms.
Masdar is also partnering with Presight to develop an asset management tool for its renewable energy projects around the globe.
By developing an AI-based asset management tool, Masdar seeks to digitise its operations worldwide, moving from a reactive model to a predictive approach where it can analyse data and operational patterns to enhance efficiency, address failures before they occur, reduce downtime, and ultimately boost energy production.
