Banco Sabadell | According to press reports, Iberdrola is finalising the sale to Masdar (Abu Dhabi) of a 49% stake in the East Anglia 3 offshore wind farm (United Kingdom) for around €2 billion (2% capitalisation, 4% NFD), which will strengthen their alliance to co-invest around €5 000 million in this facility.
Assessment: News with little impact. Although yet to be confirmed, it would be part of Iberdrola’s growth strategy with alliances (minority shareholdings of partners). We recall that in East Anglia I, Iberdrola already incorporated GIG with a 40% stake in 2019 and valued it at £4.1 billion (€4.9 billion). At the end of 2023, Iberdrola and Masdar signed a declaration of intent to jointly invest in renewables outside Spain and so far they have only co-invested in Baltic Eagle (Germany).
