Iberdrola Takes 100% Ownership in 496 MW Offshore Wind Project

Iberdrola has assumed 100 percent ownership of Ailes Marines, which is developing, constructing & operating the 496 MW Saint-Brieuc offshore wind farm in France.

Iberdrola has increased its ambition in the offshore wind industry, following the conclusion of an agreement to take 100 percent ownership of Ailes Marines. The company is developing, constructing and operating the Saint-Brieuc offshore wind farm in France, a country that has become an increasingly strategic market for the Iberdrola.

The firm, which previously owned 70 percent of the consortium’s capital, has acquired the remaining 30 percent from Avel Vor, after receiving the green light from the French Ministry of the Economy. Avel Vor (RES and Caisse des Dépôts) sold its 30 percent equity in the EUR 2.4 billion investment project, scheduled for commissioning in 2023.

The transaction will add momentum to the project, which is scheduled to begin construction in 2021. Once fully operational, the installed capacity of 496 MW will produce enough clean energy to satisfy the needs of around 835,000 consumers.

Jonathan Cole, Iberdrola’s Global Managing Director for offshore wind, said “the Saint-Brieuc project is now ready to get started on construction. All agreements are in place, the funding is secured and contracts are signed. Our detailed Industrial Plan will also support new factories and highly-skilled clean energy jobs in France. We are hoping that the final legal and administrative matters will be concluded quickly, and then this major EUR 2.4 billion investment in a cleaner energy future will be ready to run full speed.”

Located approximately 16 kilometres off the coast of Brittany, the Saint-Brieuc plant will require an overall investment of around EUR 2.4 billion. It will be equipped with 62 Siemens Gamesa wind turbines, each with an 8 MW capacity, installed in a 75-square-km area. The turbines will have a total height of 207 metres. Saint-Brieuc is a key project for the energy transition and the French government’s fight against climate change.

With a global 12.4 GW offshore wind project pipeline, Iberdrola currently operates three offshore wind farms: West of Duddon Sands (389 MW), Wikinger (350 MW) and the 714-MW East Anglia ONE (to be fully commissioned in 2020).