Offshore wind power is key to Iberdrola's future growth
Twenty years ago, the group was a pioneer in onshore wind generation, and now it is doing the same in the offshore wind market. During the last year, offshore wind power has become a major business growth vector for the company. At the end of the first half of 2021, the company already had more than 1.3 GW of installed capacity, which it will triple by building a further 2.6 GW by 2025. The enormous expansion of the company's pipeline of this technology will allow Iberdrola to have 12,000 MW in operation by 2030, with investments totalling almost 30 billion euros worldwide during the decade.
Driving offshore generation around the world
- #RENEWABLE PROJECTSWe assumed full ownership of two wind farms off the west coast: Park City Wind (804 MW) and Commomwealth Wind (1,200 MW).
- #NEW MARKETSWe continue our expansion in the Asia-Pacific region with the opening of a new growth platform in Taiwan.
- #RENEWABLE PROJECTSWe sign the lease agreement for the park operations building that we built in the Baltic.
- #RENEWABLE PROJECTSThe United States authorities have confirmed the preparation of an Environmental Impact Study for Kitty Hawk North.
- #OFFSHORE WIND FARM DEVELOPMENTWe have entered into an agreement for the manufacture and supply of XXL monopile type foundations.
- #FLOATING WIND FARMSWe have joined forces with Shell to bid for the most important floating offshore wind farms in the United Kingdom.
Within Iberdrola's renewables pipeline, which totals 81.5 GW, offshore wind has become the second-most-important technology thanks to strong growth in the last year. The company has invested in new growth platforms with enormous potential, such as Poland, Sweden, Ireland, Japan, Korea, Taiwan and Australia, which has made it possible to increase the size of our offshore wind stable to 25.2 GW. This ensures that we can fulfill our plant to 2030, when we will have 12,000 MW in operation.
- #UNITED KINGDOMConsisting of three wind farms, they add up to 3,100 MW and will be Iberdrola's largest offshore wind project.
- #UNITED STATESOff the Outer Banks coasts, they will have a capacity of 2,500 MW and will supply 700,000 households.
- #UNITED STATESWith 804 MW, it will supply 14 % of the state of Connecticut's electricity needs.
- #UNITED STATESWith 800 MW, it will be capable of meeting the energy needs of more than 400,000 homes.
- #BRITTANYWith the start of the operation phase in 2023, it will have a total installed capacity of 496 MW.
- #GERMANYThis new 476 MW facility is our second flagship project in Baltic waters.
As well as the wind farms in development, Iberdrola has an additional pipeline of 22.6 GW. This puts Iberdrola in an optimal position when participating in auctions and tenders planned for the coming months in its new growth platforms for both projects in its existing pipeline (United States, 3,600 MW; United Kingdom, 3,100 MW; Japan, around 2,000 MW; Germany, 300 MW) and for new pipeline (Poland, 14 GW of capacity up for auction; United Kingdom, 10 GW of capacity up for auction; United States, approximately 7 GW; Ireland, around 5 GW of national target 2022-2025; France, 1.6 GW; Denmark, 1.6 GW; the Netherlands, 1.4 GW; and Taiwan, 6 GW).
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