Spanish energy giant Iberdrola has reportedly entered into an exclusive agreement with Masdar to collaborate on the development of a 476MW offshore wind farm in German waters in the Baltic Sea.
Citing anonymous market sources, the Spanish economic and business newspaper Expansion reported that the project, known as Baltic Eagle, will consist of 50 wind turbines.
The new offshore wind farm located off the coast of Pomerania in Germany, 30 kilometres northeast of Rügen island, is set to provide renewable energy to approximately 475,000 households.
The newspaper reported that Masdar, based in Abu Dhabi, may acquire a stake of up to 49% in the undertaking.
