--Iberdrola is set to sign an exclusive deal with Abu Dhabi's Masdar to jointly develop a 476-megawatt offshore windfarm in German waters in the Baltic Sea, Expansion reports, citing unnamed market sources.

--The energy company is negotiating a sale of a stake of up to 49% in the Baltic Eagle windfarm project to Masdar, according to the Spanish business newspaper. The Baltic Eagle windfarm is valued at about 1.4 billion euros ($1.52 billion).

--The move is part of Iberdrola's strategy to help finance its EUR47 billion investment plan, Expansion reports.

Full story: https://shorturl.at/ehkuA

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 05, 2023 07:52 ET (11:52 GMT)

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