Iberdrola Acquires 3 GW Offshore Wind Pipeline in Ireland

Iberdrola has added to its offshore wind as 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. Once operational, the projects will generate enough green energy to power the equivalent of 2.6 million households in Ireland.

The transaction allows Iberdrola to further enhance its geographic diversification, as the company continues with its strategy to grow in markets with a favourable investment environment. The deal also allows Iberdrola to position itself in the initial stages of Ireland’s offshore wind market, which has considerable growth potential in the years ahead.

Ireland has ambitious climate change mitigation policies in place to transform its energy mix, with Government planning to have 5 GW of offshore wind capacity operational by 2030. Estimates suggest there could be up to 40 GW of potential for offshore development.

Iberdrola’s partner, DP Energy, is an international developer headquartered in Cork with extensive experience in the renewables industry and strong knowledge of the Irish market. DP Energy is also working with Iberdrola currently in Australia, to develop the Port Augusta Renewable Energy Park, a 317 MW hybrid wind and solar project in South Australia.

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