Energy Infrastructure Partners, a leading infrastructure investor focused on the global energy transition, has reached an agreement on behalf of its clients to take a 49% stake in Iberdrola S.A.’s Wikinger offshore wind farm, according to the company's release.
Wikinger operates under Germany’s feed-in tariff regime, which the country launched to spur clean energy investments and has since closed to new projects. The scheme offers a guaranteed price for all electricity produced by the Wikinger wind farm through 2037.
Unlike other fixed-price offtake arrangements, the wind farm and other assets in the scheme can sell the power they produce at market prices whenever they exceed the tariff.
Iberdrola entered the German market by building Wikinger, which began operations in 2018. Germany has since become a focus market for the Spanish multinational, which has built more than two decades of experience in renewable energy and is on track to amass 60 gigawatts of installed carbon-free generation capacity globally by 2025. Iberdrola will remain Wikinger’s majority shareholder and continue providing operation and maintenance services.
Since it entered operation, Wikinger’s 70 turbines have contributed 350 megawatts in capacity of carbon-free electricity to Germany’s green energy ambitions, enough to power about 350,000 German homes, according to an Iberdrola analysis.
EIP manages a stake in the adjacent Arkona wind farm with 378 megawatts of capacity in partnership with RWE AG following a 2020 investment.
Energy Infrastructure Partners AG is a Switzerland-based manager of collective assets focused on long-term equity investments in high-quality, large-scale renewables and system-critical energy infrastructure assets.