SSE Renewables and Spanish renewable energy developer Acciona have signed an agreement for the formation of a 50/50 joint venture to enter the emerging Spanish and Portuguese offshore wind markets.
SSE Renewables said the move is part of its strategy to bring its expertise in the renewables value chain to international markets where it sees value.
SSE Renewables and Acciona will create a joint venture with expertise throughout the development, construction and operation of offshore wind and wider renewables, as well as in the Iberian market and regulatory landscape, while the two parties will also jointly explore other offshore wind markets beyond Spain and Portugal.
“I am delighted to be entering into this exclusivity agreement with Acciona. Partnering with a well-established Spanish renewable developer will enable SSE Renewables to bring its offshore wind expertise to help Spain and Portugal achieve their ambition to reach carbon neutrality by 2050. It also demonstrates our intent to build our strong wind energy pipeline beyond the UK and Ireland,” said Jim Smith, managing director of SSE Renewables.
Spain and Portugal have both set net zero emissions targets for 2050 and the Spanish government is expected to publish an offshore wind strategy this year.
Last week Splash reported on Spanish utility Iberdrola’s plans to develop what will be the first industrial scale floating offshore wind farm in Spain.