The company continues to agitate the energy sector, with a third operation in Europe that succeeds in taking over 100% of the French Saint-Brieuc offshore wind farm and acquiring the French company Aalto Power.
Located in Brittany, some 16 kilometers from the coast, the Saint-Brieuc park will have 62 Siemens Gamesa wind turbines, with 8 MW of unit power, that will spread over an area of 75 square kilometers. The wind turbines will have a total height of 207 meters.
Thanks to this acquisition, the group will be able to develop its third largest onshore wind complex in the United Kingdom, with an installed capacity of 220 MW and an investment of close to 250 million euros.
Iberdrola, which will make a record investment of 10 billion euros this year to boost the green recovery, is starring in its third corporate operation in the European renewable market, in just two months from the start of the health crisis.
Ignacio Galán: “It is essential that the recovery is in line with the climate objectives. As today’s announcement shows, companies like ours remain committed to clean energy investments that foster quality employment and drive the energy transition. ”
Iberdrola has closed the purchase of two onshore wind projects in Scotland, which add 165 megawatts (MW) of capacity and whose development will involve an investment of around 190 million euros, to some local individual shareholders of 3R Energy and the company Mitchell Energy.
The two renewable developments acquired by lberdrola are located in the county of South Lanarkshire, some 35 kilometers south of Glasgow.
On the one hand, it has been done with a project that includes the construction of a 100 MW wind farm: 20 turbines of 5 megawatts (5 MW) of unit capacity and a maximum height of 200 meters.
On the other hand, the company will be able to repower the first non-experimental wind farm developed in Scotland 25 years ago: Hagshaw Hill. After this process, the installation, which currently has 42 MW of installed power, will have 65 MW.
Thanks to this transaction, Iberdrola’s subsidiary in the United Kingdom, ScottishPower, will be able to develop its third largest wind complex in the country, with 220 MW of capacity, given that, to the 165 MW now acquired, it will add 55 MW from another neighboring park that it was already promoting and is now reactivating. This enclave, whose development will require a global investment of some 250 million euros, will be able to supply green energy to almost 135,000 homes.
The company led by Ignacio Galán, who will make a record investment of 10,000 million this year to promote green recovery, thus leads its third corporate operation since the start of the health crisis.
As a result of this purchase, Galán pointed out that, “as we overcome the coronavirus crisis, investment in clean infrastructures, which creates jobs and whose delivery times are short, offers immediate economic and environmental benefits, which will allow us to support the UK recovery at this critical time. “
Likewise, the president of Iberdrola has commented that, “globally, it is essential that the recovery be in line with climate objectives. As today’s announcement shows, companies like ours remain committed to clean energy investments that promote quality employment and drive the energy transition. ”
This new Iberdrola onshore wind complex in the United Kingdom will only have ahead of those that the company already has operations in Whitelee (539 MW) and Kilgallioch (239 MW).
Through this operation ScottishPower continues to strengthen its position as the UK’s first 100% renewable integrated energy company and the group continues to contribute to the UK’s ambitious decarbonisation goals.
Third corporate transaction renewable in two months
The Iberdrola group thus stars in a third purchase in the European renewable energy sector in two months and the second in just one week.
On the one hand, last Wednesday it notified the CNMV of the acquisition of the French company Aalto Power for just over 100 million euros. Founded in 2005 and based in Marseille, Aalto Power contributes to Iberdrola 118 MW of onshore wind power operating in France and a portfolio of onshore wind power projects in that country, adding another 636 MW, which are in different stages of development.
The integration of Aalto Power, owned until a few days ago by Aiolos and Caisse des Dépôts et Consignations, reinforces the company’s growth plans in the French renewable generation area, thanks to the projects the company and its team of professionals have.
On the other hand, Iberdrola took control, on March 9, of 100% of the capital of the French Saint-Brieuc offshore wind farm, which will involve an investment of approximately 2,500 million euros.
The 496 MW of wind power of this complex, which will begin construction in 2021, will come into operation in 2023, generating enough clean energy to satisfy the electricity consumption of some 835,000 people.