Iberdrola inks agreement for Philippines offshore wind projects

4C Offshore | Tom Russell
By: 13/01/2022 Iberdrola

Iberdrola has announced that it has signed an agreement with Stream Invest Holding AG, a Swiss renewable energy group, and Triconti ECC Renewables, a Philippines based wind developer, securing an option to enter five offshore wind projects at very early stages of development.

All projects have secured Wind Energy Service Contracts from the Philippines Department of Energy and would be jointly developed by the companies.

Iberdrola stated that it is highly committed to the economic and social wellbeing of the communities where it operates and has a proven track-record of community engagement, having established sound relationships with local trade unions and industries aimed at creating strong, sustainable, local supply chains.

The Philippines' National Renewable Energy Programme (NREP) for 2020-2040 has set a target of a 35% share of renewable energy in the power generation mix by 2030 and a 50% share by 2040. Offshore wind is expected to play a role in meeting this target.

Iberdrola operates 37.4 GW of renewables across the world and has a pipeline of over 81.5 GW of renewable projects. The agreement for the projects in the Philippines joins other offshore wind transactions carried out by the company in recent years which have allowed the development of wind farms in the Baltic Sea (
Wikinger, Windanker, Baltic Eagle), the North Sea (East Anglia ONE), the Irish Sea (West of Duddon Sands), the coast of Massachusetts (Vineyard Wind 1, Park City Wind, Commonwealth Wind) and the coast of Brittany in France (Saint-Brieuc).

Iberdrola has operational assets, a pipeline and other early stage developments of approximately 35 GW in the UK, US, Germany, France, Poland, Sweden, Norway, Taiwan, Japan, Korea and Brazil.