Iberdrola Increases Offshore Wind Ambition in France Acquiring 100% of the Capital of Ailes Marines

Source Company Press Release
Company Iberdrola S.A., Caisse de dépôt et placement du Québec, Renewable Energy Systems Ltd.
Tags Corporate: Overview/Strategy, Country: France, M&A: Corporate Deal, Deals, Renewables: Renewables News, Segment: Power
Date March 09, 2020
  • Avel Vor (RES and Caisse des Dépôts) sells its 30% equity in the €2.4 billion investment project, scheduled for commissioning in 2023
  • With a global 12.4 GW offshore wind project pipeline, Iberdrola currently operates three offshore wind farms: West of Duddon Sands (389 MW), Wikinger (350 MW) and the 714-MW East Anglia ONE (to be fully commissioned in 2020)

 Gamesa wind turbines, each with an 8 MW capacity, installed in a 75-square-km area. The turbines will have a total height of 207 metres.

Saint-Brieuc is a key project for the energy transition and the French government's fight against climate change.

Iberdrola is also active in the energy commercialisation market and is analysing new opportunities in onshore wind in France.


IBERDROLA, A STEADFAST COMMITMENT TO OFFSHORE WIND POWER

Nearly twenty years after pioneering the move into onshore wind, Iberdrola now continues to spearhead the development offshore wind, a market with significant global potential. It currently has a project pipeline of circa 12.4 GW (gigawatts) in three main areas: the North Sea, the Baltic Sea and the United States.

With €13.26 billion (39%) out of Iberdrola's total €34 billion global investment plan up to 2022 earmarked for renewables, offshore wind is a cornerstone of the company's strategy.

The group is currently operating three offshore wind farms: West of Duddon Sands, which began operations in the Irish Sea in 2014, and Wikinger, in the German waters of the Baltic Sea, operational since December 2017.

In the United Kingdom, the company's largest project to date, East Anglia ONE, is now also generating power and nearing completion. Around 80% of the wind turbines (82 of 102) are now installed. Once completed, the 714 MW of installed capacity will be capable of powering 630,000 UK homes for an investment of £2.5bn.

Iberdrola has also announced the development of East Anglia Hub, a macro-complex comprising the company's three remaining projects in the North Sea: East Anglia One North, East Anglia Two and East Anglia Three. With 3,100-MW installed capacity, it will require an investment of around £6.5bn and the construction phase, expected to take around four years, will start in 2022. The main suppliers will be announced within the next ten months.

Iberdrola is also preparing to begin construction of the largest commercial offshore wind farm in the United States: Vineyard Wind. Off the coast of Massachusetts, it will have 800 MW capacity to cover the energy needs of one million homes. Additionally, in December 2019, it was awarded the contract to build Park City, an 804-MW facility off the Connecticut coastline to the south of Martha's Vineyard and Nantucket.

In Germany, in April 2018, the company was awarded contracts to build two new plants in the Baltic Sea, with a joint capacity of 486 MW: Baltic Eagle and Wikinger South.

The company expects to be operating 2,000 MW of offshore wind in late 2022 and 3,000 MW by 2024.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd