Iberdrola plans industrial-scale floating windfarm offshore Spain

The company said it plans to allocate more than €1.0Bn (US$1.2Bn) to commission the 300-MW floating windfarm off the Spanish coast.

It said it has also included the project in a number of initiatives submitted for consideration under Next Generation EU, the stimulus package intended to boost post-Covid-19 recovery in the European Union.

Iberdrola said it sees the project as an opportunity to develop the country’s supply chain and establish Spain as a leader in floating wind, but it did not identify the site for the windfarm.

In a statement, the company said studies for the design and engineering of the windfarm are expected to begin later in 2021. It the project proceeds as planned it will become operational in 2026.

The company said the project could spearhead the development of up to 2.0 GW of floating offshore wind projects that have been identified by the company off the coasts of Galicia, Andalusia and the Canary Islands.

“Hundreds of small and medium-sized enterprises in Spain would be involved in the projects, which could boost the competitiveness of Spanish industry in the short, medium and long-term,” Iberdrola said.