Renewable energy companies, Masdar and Iberdrola, will co-invest in a new 476MW offshore wind farm in the German Baltic Sea.

Named the Baltic Eagle, the wind farm will consist of 50 wind turbines, each with a unit capacity of 9.53 MW.

The companies anticipate an annual production of 1.9TWh.

Masdar and Iberdrola expect the Baltic Eagle to produce enough clean energy to meet the electricity demands of 475,000 homes, saving 800,000 tonnes of carbon dioxide being released into the atmosphere every year.

Ignacio Galan, Iberdrola’s Executive Chairman, said: “This is a major project that will help to drive forward green energy security in Europe, reduce emissions for homes and businesses, and support thousands of highly skilled jobs.”

The wind farm is expected to be operational by the end of 2024.