Iberdrola, a leading name in renewable energy, has initiated plans to sell a 49 percent stake in its East Anglia Two offshore wind farm project in the United Kingdom, according to sources cited by the Spanish outlet Cinco Días. To facilitate this potential deal, the company has enlisted the expertise of financial advisors Bank of America and BBVA.
This move aligns with Iberdrola’s strategy seen in its East Anglia portfolio, where it has previously partnered with financial investors for other phases, namely East Anglia One and East Anglia Three.
The East Anglia One offshore wind farm, with a capacity of 714 MW, is a joint venture between Iberdrola’s UK subsidiary, ScottishPower Renewables, and Macquarie’s Green Investment Group (GIG). Earlier this year, Octopus Energy acquired a 10 percent stake from GIG. The project has been operational since 2021, contributing significantly to the UK’s renewable energy landscape.
In a landmark deal described as the largest offshore wind transaction of the decade, Iberdrola and UAE-based clean energy company Masdar signed an agreement in July 2025 to co-invest in the 1.4 GW East Anglia Three project, which is currently under construction.
The 960 MW East Anglia Two project is slated to begin construction in 2026 or 2027. Located off the east coast of England in the southern North Sea, the wind farm was selected in the UK government’s latest Contract for Difference (CfD) Allocation Round 6 (AR6). The project, currently fully owned by ScottishPower Renewables, will utilize 64 Siemens Gamesa SG 14-236 DD wind turbines, supported by monopile foundations supplied by Sif. Cadeler will handle the installation of both the turbines and foundations.
This strategic sale reflects Iberdrola’s approach to balancing investment and expansion in the renewable energy sector, reinforcing its commitment to advancing the global transition to sustainable energy while fostering partnerships to drive large-scale projects like East Anglia Two.