Baltic Eagle
Located 27-30km northeast of Rugen Island. Connected to 50Hertz Ostwind 2 (shared with Arcadis Ost 1).
Status
Operationallifecycle stage
Location
GermanyBaltic Sea
Technology
Capacity
476 MW ◆
Turbines
50 × 9.5 MW ◆
Model
Vestas V174 9-5 ◆
Foundation
Monopile ◆
Site & conditions
Site rights
Seabed rights held ∴
Origination
BNetzA Offshore Wind Auction 2018 (transitional) · 2018 ·
Water depth
41–45 m ◆
Distance from shore
27.6 km ◆
Wind speed
10.0 m/s @ 150 m ≈
Revenue & grid
Offtake
Premium · €64.6/MWh ◆
Grid
Secured ◆
Connection
50Hertz Ostwind 2 offshore grid system; two 90km subsea export … ◆
Schedule
FID
Taken · date not recorded ∴
COD
2025-Q3 ◇
Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record
Origination · 2018-04
BNetzA Offshore Wind Auction 2018 (transitional)
- Awarded to
- Iberdrola (Baltic Eagle GmbH)
- Basis
- integrated tender
From the auction results — the round that created the project.
Farmdown · 2023-07
Iberdrola → Masdar 49%
- Stake
- 49%
- Consideration
- €387m
- Implied 100% value
- €790m
- Implied
- €1.66m / MW
- Basis
- Price for the equity
- Announced
- 2023-07
- Closed
- 2024-Q1
- Project stage
- under construction
Iberdrola sold 49% to Masdar, retaining 51% and control. The price agreed in July 2023 was about EUR 375m; Iberdrola's 2023 annual financial report gives the closing price as EUR 387m (completed 2 November 2023). Masdar separately secured EUR 488m of project financing for its stake. The wind farm entered full operation in 2024.
Evidence
- masdar.ae — Masdar | 404 Page ↗ 2023-07 ◆ held
- brazilenergyinsight.com — Iberdrola Sells 49% stake in Baltic Eagle Offshore Wind Farm to Abu Dhabi’s Masdar ↗ 2023-07 ◆ held
- Masdar — Masdar ↗ 2024-03-15 ◆ held
- Iberdrola — Iberdrola - First half 2023 results presentation (27 July 2023) ↗ 2023-07-27 ◆ held
- Iberdrola — Iberdrola — gsm24 annual accounts consolidated 2023 ↗ 2023 ◆ held
From Hafrok’s transactions record
Dashed tick marks today (13 Oct 2026). The teal diamond on the spine is origination — the seabed award or round that created the project. Every other ownership event lives in the band below: one station per recorded deal, dated at its label, in deal order rather than to calendar scale. Secondary trades appear only at the interchanges; grey lines are parties whose entry or exit Hafrok’s record does not hold.
Announced-COD history: 2024→2024→2025-07 · 3 recorded revisions · slipped +1.0 yr (first announced 2024)
Revenue & offtake the regime the project was built under
Offtake regime on record
RegimeWindSeeG Übergangsmodell sliding market premium; minimum regulated tariff EUR 64.6/MWh for 20 years
Instrumentmarket premium
A built project sells its power under the contract or support regime it was financed with; it is not expected to bid into new government offtake rounds. Where the record does not yet name that regime, the row says so rather than guessing.
Installation how the build is going · from sourced statements and Hafrok’s registers
Installation complete
Installation · on record
StageOperational
In operation since2025-Q3
Offshore construction2022-10 → 2025-Q3
Construction ports
PortPort of Sassnitz-Mukran ~30km ◆·installation and operations · draft 13.5 m
Grid connection
from Hafrok’s substation, converter and cable registers
Offshore platforms · 1
Offshore substationBaltic Eagle Offshore Substation (OSS)·220/66 kV · in service 2023 · owner Iberdrola (wind farm owner; farm-owned platform, not TSO-owned)
Grid connection · ready in time?
when each part of the grid connection is due, against the start date the developer states (black line) · a bar spans the whole year, quarter or month the source gives
installed or in serviceexpected deliveryearlier date that was later moved
Sources & verification
Rests on 13 sources (6 primary) · ◆ 6 documents held
◆Verified≈Modelled◇Sourced∴Inferred⌁Convention○Unverified∅No source·Derived
Numbers are stable citation ids — grouped by source class, so they are not consecutive.
Regulator2
[1]
Bundesamt fuer Seeschifffahrt und Hydrographie (BSH)2022-04-22◆ Planfeststellungsbeschluss Offshore-Wind…
“BSH Az: 5111/Baltic Eagle/PFV Rostock, den 22. April 2022 Planfeststellungsbeschluss [...] (1) 50 (fünfzig) Offshore Windenergieanlagen (OWEA) mit folgenden Parametern: [...] Die Koordinaten der eckwä…”
supportsConsentTurbinesModelUnit capacityTotal capacity+6 more
[14]
Bundesnetzagentur — Marktstammdatenregister2026-08-23◆ Marktstammdatenregister (MaStR) offshore…
“Park row "Baltic Eagle": 50 units, 476.25 MW gross, statuses {'In Betrieb': 50}, operators ['Baltic Eagle GmbH'], commissioned 2024-05-02..2024-09-21, planned None..None.”
supportsFirst power
Operator4
[3]
Masdar2023-11-02◆ Masdar | Iberdrola and Masdar close thei…
“Iberdrola has signed a strategic agreement with Masdar, a major renewable energy group based in Abu Dhabi, to co-invest in the 476 MW Baltic Eagle offshore wind farm, located in the German Baltic Sea.…”
supportsMechanismStrike / priceDetail
[8]
[15]
Baltic Wind (reprint of the Iberdrola / 50Hertz joint release of 23 February 2023)2023-03-01◆ Installation of Baltic Eagle's offshore …
Press report — cited, not quoted; read it at the source link.
supportsOnshore constructionOffshore construction
[16]
Iberdrola2023-04-25◆ We have successfully installed the first…
“25/04/2023 ... Iberdrola has successfully placed the first foundation for the Baltic Eagle offshore wind farm into the seabed during the past weekend. Following the impressive installation of the offs…”
supportsOnshore constructionOffshore construction
Trade press7
[5]
[6]
[7]
[9]
[10]
[11]
Power Technology2023-11
Press report — cited, not quoted; read it at the source link.
supportsoperatorco-investor
[12]