Iberdrola pours €1bn into floating wind farm

The 300MW project is predicted to create 2,800 new jobs every year until it becomes operational in 2026

Iberdrola has unveiled plans to invest €1 billion (£870m) in a new floating offshore wind farm.

Until it comes into operation in 2026, the 300MW project is forecast to create more than 2,800 new jobs every year and involve66 technology centres and Spanish companies with 52 SMEs among them.

The Spanish energy giant said the wind farm could generate between 1,000 and 2,000 jobs during this year before the start of its construction phase.

It would also save 202,500 tonnes of carbon emissions per year.

The project is the first of an up to 2,000MW new capacity of floating offshore wind projects identified by the company off the coasts of Galicia, Andalusia and the Canary Islands.

By 2025, Iberdrola expects to reach 60GW of installed renewable capacity worldwide, of which 4GW will be offshore wind.

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