Iberdrola plans first industrial-scale floating offshore wind farm in Spain with an investment of more than €1 billion

The president of Iberdrola, Ignacio Galán, during his visit to an offshore wind farm.

Iberdrola is planning what it says will be the first industrial scale floating offshore wind farm in Spain. The 300-MW project will cost more than €1 billion said the company. It will be located off the Spanish coast.

The renewable facility could become a driver of the country’s industrialization and job creation, said Iberdrola, estimating that it would provide more than 2800 jobs per year in research, design and engineering before the wind farm becomes operational in 2026.   

Iberdrola said the project requires the participation of 66 Spanish companies and technology centers, including 52 SMEs.

The project represents an opportunity to develop the country’s supply chain and establish Spain as an international benchmark, said Iberdrola. It has been submitted to the Next Generation EU programme and is aligned with the pillars of the Spanish government’s Recovery, Transformation and Resilience Plan.

Project could lead to 2GW of offshore wind

This project would spearhead the development of up to 2,000 MW of potential floating offshore wind projects that Iberdrola has identified off the coasts of Galicia, Andalusia and the Canary Islands.

In addition, the project is one of 150 initiatives submitted by the company to the Next Generation EU programme – in the fields of heat electrification, floating offshore, sustainable mobility, green hydrogen, innovative renewables, smart grids, circular economy and energy storage – that would mobilize investments of €21 billion and involve hundreds of small and medium-sized enterprises.