Iberdrola has reached an agreement to acquire a 50% stake in Sea Wind, marking the company’s entry into the Polish offshore wind market.
Sea Wind is said to have a seven-project pipeline in the early stages of development that has a potential capacity of up to 7.3 GW.
According to Iberdrola, Sea Wind has an experienced team in offshore wind development and in-depth knowledge of the Polish market.
The companies previously worked together on the development of the Baltic Eagle project off the German coast.
Iberdrola added that with this transaction it is also promoting the creation of an offshore wind hub in the Baltic Sea which would act as the epicenter of offshore services and local content for its projects in Germany, Poland and Sweden.
Back in June, Iberdrola signed a Letter of Intent (LoI) with Enea to jointly develop offshore wind projects in the Polish Baltic Sea with a possible total capacity of up to 3.3 GW.
However, a few months later, the two parties decided to terminate exclusive talks on jointly pursuing the Polish projects.