Iberdrola will invest 1 Billion euros in the first large Offshore Wind Farm in Spain

Iberdrola will invest 1 Billion euros in the first large Offshore Wind Farm in Spain

Iberdrola will invest 1 billion euros to build Spain‘s first industrial-scale floating offshore wind farm, the Spanish group announced on Tuesday.

With a capacity of 300 MW, Iberdrola expects the park to come into operation in 2026, expecting that the design and installation process will generate more than 2,800 annual jobs in collaboration with 66 Spanish companies and technology centers.

The project, which is part of a set of 150 initiatives presented by Iberdrola to the European Next Generation EU program that could mobilize 21,000 million euros in investments, will act as a “spearhead” for the development of up to 2,000 MW of floating offshore wind power identified by the company along the Spanish coast.

Likewise, Iberdrola said that the initiative could prevent the emission of some 202,500 tons of CO2 per year.

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