- Press Releases
August 1 (Renewables Now) - Several investors are said to be considering making bids for a minority stake in Spanish utility group Iberdrola SA's (BME:IBE) 350-MW Wikinger wind farm in German waters of the Baltic Sea, Reuters reported on Monday, citing people familiar with the matter.
The potential suitors for a 40% interest in the asset include UAE's renewables company Masdar, Canada Pension Plan Investment Board (CPPIB) and infrastructure funds InfraRed and EIP.
The Spanish power major is expected to pick a buyer of the stake in the coming weeks, with the value of the wind park estimated at EUR 1.4 billion (USD 1.42bn), the report says.
A potential sale would be part of Iberdrola's strategy to support the financing of its EUR-150-billion investment programme to 2030 through the sale of stakes.
Located 75 km off the German coast, Wikinger was connected to the grid at the end of 2017. Since then, the wind park has been supplying renewable energy to 350,000 homes. It is part of Iberdrola’s Baltic Hub which includes the 476-MW Baltic Eagle wind park currently under construction and a plan for another 300-MW wind project known as Windanker.
In April, Spanish newspaper Expansion reported that Iberdrola had hired Banco Santander (BME:SAN) to help it prepare the sale of a minority stake in Wikinger and sound out interest among infrastructure, sovereign and pension funds.
(EUR 1 = USD 1.020)