EuropeOffshoreRenewables

Iberdrola to invest more than $8bn in UK offshore wind farm project

Spanish electric utility company Iberdrola has confirmed it will invest £6bn ($8.27bn) in the East Anglia Hub in the southern North Sea through its UK subsidiary Scottish Power Renewables.

This would be Iberdrola’s biggest offshore wind development anywhere in the world and would supply enough green energy to power 2.7m British homes while creating 7,000 jobs.

Iberdrola’s chairman, Ignacio Galán, said: “We share the ambition of the Prime Minister’s Ten Point Plan and, following the stable and predictable UK framework, we are committed to playing our part. Our £6bn investment in the East Anglia Hub would be a significant step to achieving enough offshore wind to power every UK home by 2030.”

The East Anglia Hub is a macro offshore wind complex comprising three projects to deliver a combined installed capacity of 3.1 GW – more than 7.5% of the 40 GW target for offshore wind power set by the UK government for 2030.

The investment is subject to securing planning consent and a contract for difference. The works are to commence in 2022 and are expected to take four years.

Adis Ajdin

Adis is an experienced news reporter with a backgroud in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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