Iberdrola will develop 16 renewable projects in the United Kingdom after “guaranteeing their profitability” | Economy

Iberdrola will develop 16 new renewable energy projects in the United Kingdom, after “guaranteeing profitability” of the same after having obtained the contracts for difference (CfD, for its acronym in English) with the British Government, which, according to the company, “ensure their financial viability.”

Through ScottishPower, Iberdrola’s subsidiary in the United Kingdom, the CfDs have been obtained for the East Anglia Three offshore wind project, of 1,400 megawatts (MW), as well as for five other onshore wind farms with a combined capacity of 396 MW and also for ten photovoltaic solar sites with a total capacity of 326 MW. These facilities will be developed in Scotland, England and Wales, and will almost double the renewable installed capacity of the company in this country by incorporating a total power of more than 2,200 MW.

“Iberdrola has become the company with the largest number of renewable projects backed by the United Kingdom Government in the fourth auction held by the Department of Energy (BEIS)(…). The projects selected in this round will have 11,000 MW of installed capacity, of which almost 4,000 MW correspond to offshore wind energy”, highlighted the Spanish energy company. The company has celebrated the “important support” that obtaining the CfDs for the construction of the East Anglia Three offshore wind farm represents, which will involve investments of around 4,000 million euros.

This site is one of three projects offshore which are part of the East Anglia Hub, an offshore wind power complex that will add an installed capacity of 2,900 MW, enough to supply 2.7 million British homes, according to Iberdrola’s calculations.

At the beginning of the year, Iberdrola was awarded 7,000 MW of offshore wind power in Scotland in the framework of the largest tender carried out to date by the crown body, Crown Estate Scotland. In that auction, the company won three large-scale projects that will involve a total investment of 22,500 million euros; two of them with floating technology and in alliance with Shell and another on a fixed structure.