Iberdrola will develop 16 new renewable energy projects in the UK, having “guaranteed profitability” after acquiring Contracts for Difference (CfD, for its English acronym) with the British government, which, according to the company, “guarantee their financial viability”.
Through ScottishPower, a subsidiary of Iberdrola in the UK, CfDs have been acquired for the East Anglia Three offshore wind power project, of 1,400 megawatts (MW), as well as for five other onshore wind farms with a total capacity of 396 MW and also for ten solar sites Photovoltaic with a total capacity of 326 MW. These facilities will be developed in Scotland, England and Wales, and will nearly double the company’s installed renewable capacity in this country by integrating a total capacity of more than 2,200 MW.
“Iberdrola has become the company with the highest number of UK Government-supported renewable energy projects in the fourth auction held by the Department of Energy (BEIS) (…). The projects selected in this round will have an installed capacity of 11,000 MW, of which 4,000 MW corresponds to the capacity of 11,000 MW. Offshore wind”, highlighted the Spanish energy company. The company celebrated the “important support” represented by the acquisition of contracts for difference to build the East Anglia 3 offshore wind farm, which will include investments of approximately 4,000 million euros.
This site is one of three projects Navy Which is part of the East Anglia Hub, an offshore wind power complex that will add an installed capacity of 2,900 megawatts, enough to power 2.7 million British homes, Iberdrola calculates.
At the beginning of the year, Iberdrola was awarded 7,000 megawatts of offshore wind capacity in Scotland under the largest tender to date carried out by the Crown Estate Scotland. In that auction, the company won three mega projects that will include a total investment of €22,500 million; Two of them with floating technology and in alliance with Shell and the other on a fixed structure.
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