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Iberdrola agrees deal for 9 GW of offshore wind projects in Sweden
Iberdrola has agreed a deal to take a majority stake in eight potential offshore wind projects from renewables company Svea Vind Offshore (SVO). If developed, the projects would have a capacity of up to 9 GW of offshore wind
The eight projects are at various stages of development and are expected to enter operation from 2029 onwards.
They are grouped around two geographical clusters: Gavle (six windfarms with a total of 5.1 GW) and Oxelosund (two offshore windfarms with a combined capacity of 3.9 GW).
The framework agreement between SVO and Iberdrola will allow company to take a majority stake in each of the offshore projects.
SVO’s first offshore windfarm, 250-MW Utposten I, is at an advanced stage of obtaining environmental permits.
The Swedish government aims to have 100% of its electricity coming from renewable energy sources by 2040.
Led by chief executive Ignacio Galán, Iberdrola also recently increased its stake in the 496-MW Saint-Brieuc offshore windfarm in France.
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