UAE’s Masdar tipped for big stake in $1.5bn offshore wind farm that will help power Amazon

UAE renewables group Masdar is set to take a major 49% stake in Iberdrola’s Baltic Eagle offshore wind project in German waters. The 476MW project, valued at about $1.5bn, is expected to be a critical project for the Abu Dhabi-based Masdar, as they set their sights on becoming one of the world’s most ambitious renewables players with a target to amass a 100GW gross portfolio by 2030. If confirmed, Masdar would become the latest partner for Iberdrola as the Spanish group pursues its massive global green power expansion plans.