Spanish energy giant Iberdrola has entered the Polish offshore wind market

Iberdrola has agreed to acquire a 50% stake in developer Sea Wind, thus gaining a foothold in Poland's nascent offshore wind market and securing Poland's "ticket"
to the potential 7.
3GW offshore wind market in the Baltic Sea.

Spanish energy giant Iberdrola said the deal would help successfully enter the early stages of offshore wind development in Poland, arguing that the market has "significant growth potential"
.

With the deal, it also promotes plans to build an offshore wind hub in the Baltic Sea that will "serve as a hub for offshore wind services and local content"
for its projects in Germany, Poland and Sweden.

Sea Wind is developing seven early-stage offshore projects in the Baltic Sea
.
Previously, it had partnered with Iberdrola to develop the 476-megawatt Baltic Eagle wind farm
off the coast of Germany.
Iberdrola expects to commission
the project in 2023.

Iberdrola revealed that the new partnership may be open
to Polish partners.
The acquisition follows the breakdown of talks with Polish energy company Enea to develop up to 3.
3GW of Polish offshore wind projects
.

Iberdrola already has offshore wind capacity
in the German Baltic Sea after launching the 350 MW Wikinger wind farm at the end of 2017.
In Sweden, it struck a deal with Svea Vind Offshore in June this year that will give it a stake in up to 9GW of offshore wind projects
in the future.

The Spanish giant has been expanding its renewable energy footprint so far this year, including acquiring renewable energy
in the UK, France, Australia, Sweden, Japan and Brazil.

The Polish government aims to increase offshore wind capacity from zero today to 5.
9GW by 2030 and 8-11GW
by 2040.