Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
Masdar and Iberdrola reached financial close for the 1.4 GW East Anglia THREE offshore wind farm on 24 July 2025. Project financing facilities totalling GBP 3.6 billion (EUR 4.1 billion) were secured with 23 banks and the Danish Export Credit Agency (EIFO), covering a substantial part of the total project cost estimated at approximately EUR 5.2 billion. The facility was oversubscribed by more than 40 percent. The project benefits from 15-year CPI-linked Contracts for Difference awarded in UK allocation rounds AR4 and AR6, as well as a Power Purchase Agreement with Amazon signed in 2024. Over 2,300 jobs are expected during construction with 100 long-term roles across its operational lifetime.