Spanish energy firm Iberdrola has agreed to acquire a majority stake in three DP Energy offshore wind projects in Ireland with total capacity of 3 gigawatts to expand its global renewable energy footprint.
The projects are the Inis Ealga wind farm on the south coast of Co Cork and the Clarus project on the west coast of Co Clare, both to be developed with floating offshore wind technology. Additionally, the Shelmalere project will be located off the east coast and will be developed using fixed foundations.
This latest transaction brings Iberdrola’s pipeline of offshore wind projects worldwide to more than 30 gw. The company already operates offshore wind farms in UK and German waters, with new developments in the UK, US and France.
Earlier this month, Iberdrola launched a EUR2bn ($2.4bn) green hybrid bond issue. The funds raised will be used to finance and refinance the offshore wind farms of Saint Brieuc in France.