Crédit Agricole CIB supports Iberdrola in major UK offshore wind transaction

The transaction, valued at €5.2 billion, is the largest offshore wind transaction of the decade and includes both a 50:50 partnership between Iberdrola and Masdar in the project and the securing of a £3.6 billion project finance facility, signed with 24 international financial institutions and structured as a Green Loan.

Crédit Agricole CIB acted as joint sell-side M&A advisor to Iberdrola and joint Debt financial advisor to East Anglia 3. The Bank is also participating as Mandated Lead Arranger, providing interest rate hedging for the Project Financing, and acting as Green Loan Coordinator and Agent for a £2.4 billion Bridge Loan Facility. Additionally, the Bank is also acting as Mandated Lead Arranger for 50% of the Bridge Loan.

East Anglia 3, located off the Suffolk coast, will have a capacity of 1.4 GW and will supply renewable electricity to over 1.3 million UK households once operational in late 2026. The project benefits from long-term revenue visibility through a 15-year CPI-linked Contract for Difference (CfD) awarded by the UK Government, as well as a Power Purchase Agreement signed with Amazon in 2024.

This complex and high-profile transaction mobilised a wide range of Crédit Agricole CIB’s sector and product expertise, including M&A, debt advisory, project finance, and derivatives structuring. It demonstrates the Bank’s ability to support strategic clients throughout the entire value chain of the energy transition.

This operation further reinforces the Bank’s position as a leading player in the sustainable power sector and its commitment to supporting the development of large-scale renewable energy projects worldwide.