Iberdrola acquires 3GW project pipeline in Ireland

Spanish energy firm Iberdrola has increased its offshore wind portfolio by acquiring a majority stake in three DP Energy projects in Ireland.

The farms, which are located in the south, east and west of the country will be eligible for the forthcoming offshore auctions in 2025-2030.

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The agreement will also see the company acquire a majority stake in the company created by DP Energy, which will be responsible for the continued development of the wind pipeline in Ireland.

It is the company's first major corporate investment for 2021, following from the 12 the company made throughout 2020.

The projects included in the deal are the Inis Egala wind warm located offshore from Country Cork and the Clarus project located offshore from County Clare and are to be developed using offshore floating wind technology - turbines located in places where fixing the turbines to the bottom of the sea is not feasible.

The Shelmalere project will be located to the east of the island and will be developed with fixed-foundation turbines.

Iberdrola predicts the combined farms will generate enough energy to power 2.6 million households in Ireland once operational.

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The project has allowed for Iberdrola to expand its operations further into Europe. The firm currently operates offshore wind farms in the UK and Germany.

Iberdrola plans to invest €100 million in new renewable and storage projects by 2025, including the building of a new battery facility in Gorman, with a capacity of 50MW, expected to be operational later this year.

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