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Iberdrola jumps into France’s nascent offshore wind market

Iberdrola has reached a final investment decision for the Saint-Brieuc Offshore Wind Farm, France, after acquiring full ownership of Ailes Marines, which is developing the 496 MW project. With permission from the French Ministry of Economy, Iberdrola increased its ownership from 70% to 100%, buying 30% from Avel Vor, which is itself a joint venture of Renewable Energy Systems and Caisse des Depots. The project is now scheduled to begin construction in 2021 and be completed in 2023, located across 75 square kilometers 16.3 kilometers off the coast of Brittany. All told the project will come to $2.7 billion. Iberdrola is a global offshore wind player with 12.4 GW under development, with Saint-Brieuc set to be the company’s first project…

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