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Iberdrola secures offshore wind pipeline in Poland

By: Tom Russell 18/12/2020 Iberdrola

General Windfarms

Iberdrola has signed an agreement in Poland to acquire a 50% stake in developer Sea Wind, which has seven projects in its pipeline in early stages of development, with a potential capacity up to 7.3 GW.

The Spanish energy giant stated that the deal allows Iberdrola to enhance its strategy of geographical diversification in markets with favourable investment conditions, such as Poland. The move also allows the company to position itself in the initial stage of developing the country's offshore wind market.

Sea Wind and Iberdrola previously worked together in the development of the Baltic Eagle project off the German coast. The alliance with Sea Wind builds on previous transactions carried out in recent years in the offshore wind business.

Prior to the today's transaction, Iberdrola had an offshore wind project pipeline of 20.2 GW. The company recently gained access to early-stage pipelines in Sweden (9 GW) and Japan (+3 GW).

With this alliance in Poland, Iberdrola has completed its tenth corporate transaction so far this year, despite the challenges posed by the pandemic. In addition to the offshore wind energy transactions in France, Sweden and Japan, the company has also acquired the French renewable energy company Aalto Power; reached agreements to develop 165 MW of onshore wind capacity in Scotland and 400 MW in Brazil; reinforced ownership of Saint Brieuc offshore wind project to 100%; acquired Infigen Energy; acquired PNM Resources - an electricity company in New Mexico and Texas; and, only recently, acquired the Brazilian distributor CEB-D in Brasilia.

Iberdrola is one of the largest offshore wind developers in the world. Over the next few years, offshore wind will be an investment focus for the company, developing a project portfolio of over 10,000 MW. It has a focus on three main regions: the North Sea, the Baltic Sea and the United States.

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

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Iberdrola secures offshore wind pipeline in Poland

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