€1 billion windfarm planned for Spain

Iberdrola’s president, Ignacio Galán, visits an offshore wind farm

Spanish utility company Iberdrola has announced plans to develop the world’s largest floating offshore wind farm.

The company has submitted its proposal for the 300MW project, to be located off the Spanish coast, to the European Union’s Next Generation programme.

If the project is approved, Iberdrola will begin studies for design and engineering work this year, for an array more than three times larger than any other in the floating offshore category.

The company says the project could lead to the creation of some 2,800 jobs per year, between now and its estimated completion in 2026, with more than 60 Spanish companies involved, including more than 50 small and medium enterprises (SMEs).

Moreover, the wind farm is being seen by Iberdrola as the first element of a larger wind energy strategy, which could involve the development of up to 2GW of floating offshore wind projects, to be located off the coasts of Galicia, Andalusia and the Canary Islands.

The company already has one of the largest offshore wind pipelines in the market, amounting to more than 30GW, and expects to reach a total capacity of 4GW in offshore wind alone by 2025.