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Iberdrola plans €3-4 billion in renewables investment

By: Tom Russell 03/06/2020 Iberdrola

General Windfarms

Ignacio Galán, President of Iberdrola, has revealed that the Spanish energy giant plans to invest between €3-4 billion in the next four years to continue growing in the renewable energy sector. Its investments will include wind, both onshore and offshore, and solar.

"France is a strategic country for us", he stated during his virtual participation in the Choose France meeting, organized by the French government to debate with a dozen world-class business representatives around the need to drive green recovery.

"We are already investing 2.4 billion euros in the development of the Saint-Brieuc offshore wind farm [and] we have onshore wind projects already operational and others in development."

The President of Iberdrola has also revealed that the company is interested in participating in new auctions that are called in the future to promote offshore wind farms in France.

Ignacio Galán also believes the group's growth project in France will have a drag effect on the local industry. Iberdrola makes annual purchases from French companies valued at around 1,000 million euros and the development of the Saint-Brieuc project will lead to the creation of more than 1,000 new jobs in its area of influence.

The Saint Brieuc wind farm, located in French waters, is anticipated to be commissioned in 2022. It will have 496 MW of installed power and will be located just off the coast of French Brittany, 20 km offshore.

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

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Iberdrola plans €3-4 billion in renewables investment

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