Abu Dhabi – Mubasher: Abu Dhabi Future Energy Company (Masdar), in which Abu Dhabi National Energy Company (TAQA) holds a 43% shareholding, has signed an agreement with Iberdrola to co-invest in the 1.40 GW East Anglia THREE wind farm in the UK.

Masdar and Iberdrola will have a 50% stake, each, in East Anglia THREE, according to a bourse statement.

The greenfield project, estimated to cost EUR 5.20 billion (AED 22.36 billion), is scheduled to commence initial operation in the fourth quarter (Q4) of 2026.

The financing for East Anglia Three was signed at nearly EUR 4.10 billion with 24 international banks.

This announcement follows a wider strategic global partnership between Masdar and Iberdrola after completing energization for the 476 MW Baltic Eagle Offshore wind farm in the German Baltic Sea.