Masdar has completed financing of its 49% stake in the 476 MW Baltic Eagle wind farm, located in the German Baltic Sea.
The company and Iberdrola signed a strategic agreement last July to co-invest in the project, scheduled to come into operation by the end of this year.
This is the company’s first project with Iberdrola. Total lending amounted to €488 million, with participation from ABN AMRO, Credit Agricole CIB, ING, Santander and Siemens Bank. Santander also acted as financial advisor on the deal.
