Iberdrola agrees Swedish wind farm deal

In: Windfarms
Iberdrola has agreed a deal to take majority stakes in a number of offshore wind projects being developed by Svea Vind Offshore AB (SVO) in Sweden. The projects could see the future development of up to 9 GW of offshore wind energy capacity in Sweden.

Eight projects in total are in various stages of development, and are expected to begin operations from 2029 onwards. They are grouped around two geographical clusters: Gavle (six wind farms with a total of 5.1 GW) and Oxelosund (two offshore wind farms with a combined capacity of 3.9 GW). SVO's first offshore wind farm, the 250 MW
Utposten I
, is in the advanced stages of obtaining environmental permits.

In 2020, Iberdrola will make record investments of 10 billion euros, and the agreement in Sweden marks the fifth significant advance in renewables for the company during the current COVID-19 crisis.

This month, the company announced the launch of a friendly bid to acquire the Australian renewable energy company Infigen Energy. This followed the company's decision to increase its stake in a major offshore wind farm in France (the €2.4 billion 496 MW
Saint-Brieuc offshore wind farm in France, with a stake increased from 70% to 100%) and the acquisition of French renewable energy firm Aalto Power for €100 million. Two separate agreements to develop 16 5MW of onshore wind in central Scotland that could see investment of over £150 million, were also recently completed.

For more information on offshore wind farms worldwide, click here.

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