The Iberdrola group is developing 16 new renewable projects in the U.K. after guaranteeing their profitability by obtaining Contracts for Difference (CfD) with the U.K. government that ensure their financial viability. Through ScottishPower, its U.K. subsidiary, the Iberdrola group has won CfD contracts for its large 1,400 MW East Anglia Three offshore wind project; five onshore wind projects with a combined capacity of 396 MW; and 10 solar PV sites with a total capacity of 326 MW.
The implementation of these initiatives, which will be carried out in Scotland, England and Wales, will almost double the company’s installed renewable capacity in this country, incorporating a total capacity of more than 2,200 MW.
Iberdrola has thus become the company with the largest number of renewable projects backed by the UK government in the fourth auction held by the Department of Energy BEIS. The projects selected in this round will have 11,000 MW of installed capacity, of which almost 4,000 MW correspond to offshore wind energy.
The construction of the East Anglia Three offshore wind farm will involve investments of around €4 billion. This site is one of the three offshore projects that form part of the East Anglia Hub, a macro-offshore wind farm complex that will have an installed capacity of 2,900 MW, enough to supply 2.7 million British homes with clean energy, and will involve an investment of approximately 12 billion euros. This infrastructure will be the Iberdrola group’s largest offshore wind project in the world.