Japanese utility company Kansai Electric Power has signed a share purchase agreement with Iberdrola to acquire a stake in the Windanker offshore wind farm project, Germany.
Kansai's subsidiary, Windanker Investco, will hold a 49% stake in Windanker after receiving approval from German authorities. The remaining 51% will be held by Iberdrola.
The project is the starting point for Kansai's collaboration with Iberdrola on overseas renewable energy projects.
It is Kansai's fifth offshore wind farm project overseas, increasing its net overseas generation capacity to 3,007MW.
Kansai intends to leverage the experience to expand offshore wind projects in Japan, aiming for a zero-carbon emissions target.
The Windanker project will feature 21 bottom-fixed offshore wind turbines installed in the Baltic, and contribute significantly to Kansai's growth in the renewable sector.
The project involves a planned investment exceeding €1bn ($1.04bn) and will achieve an installed capacity of 315MW.
Most of the renewable electricity generated will be sold through long-term power purchase agreements in the German market.
The installation works will be carried out between 2025 and 2026, with commissioning expected by the end of 2026.
Dutch company Van Oord will handle the transport and installation of monopile foundations and interconnecting cables, using its 8,000t heavy lift vessel, Svanen.
Germany aims to develop 20,000MW of offshore wind capacity by 2030. This target may increase due to revised CO₂ emission reduction goals, aiming for climate neutrality by 2045.
The wind project will bolster the Baltic Hub, spearheaded by Iberdrola in Germany, contributing more than 1,100MW of installed capacity through a combined investment of €3.5bn.
The hub also includes the operational Wikinger wind farm (350MW) and the Baltic Eagle project (476MW) which is currently under development.
Iberdrola has also recently contracted energy and marine consultancy ABL to provide marine warranty survey services for the Windanker project.
ABL Germany, based in Hamburg, will support the offshore transportation and installation of foundations, inter-array cables and wind turbine generators.
