Iberdrola picks 100% stake in in $2.7bn Saint-Brieuc offshore wind farm

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Spanish electric utility Iberdrola has signed an agreement to fully acquire Ailes Marines, the company responsible for the development of the 496MW Saint-Brieuc offshore wind farm.

Iberdrola has picked 100% ownership of Ailes Marines, by acquiring the remaining 30% stake that it didn’t own prior to the transaction.

The stake has been bought from Avel Vor, following an approval from the French Ministry of the Economy.

Ailes Marines was formed to develop, constructing and operate the Saint-Brieuc offshore wind farm in France.

To be built with an investment of $2.7bn, the offshore wind farm is expected to produce enough clean energy to meet the needs of around 835,000 consumers.

With construction set to begin in 2021, the Saint-Brieuc offshore wind farm is scheduled for commissioning in 2023.

The wind farm will feature 62 Siemens Gamesa wind turbines, each with an 8MW capacity, spread over an area of 75 square kilometers.

“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,” said Jonathan Cole, Iberdrola’s Global Managing Director for offshore wind.

Iberdrola’s offshore wind profile

Currently, Iberdrola has a project pipeline of nearly 12.4GW in three main areas that include the North Sea, the Baltic Sea and the US.

The company’s operating offshore wind fleet consists of West of Duddon Sands in the Irish Sea; Wikinger in the German waters of the Baltic Sea; and East Anglia ONE in the UK.

Involved an investment of $3.2bn, the East Anglia ONE has an installed capacity of 714MW, which is sufficient to power 630,000 UK homes.

In the US, Iberdrola is readying to break ground on the country’s largest commercial offshore wind, Vineyard Wind.

To be located off the coast of Massachusetts, Vineyard Wind will a capacity of 800MW capacity, which is enough to cover the energy needs of one million homes.