IberBlue Wind invests in offshore wind in Portugal

The IberBlue Wind consortium will invest more than €4 billion to create a combined capacity of 1.96 GW in two offshore wind farms in Portugal and Spain. The farms, Creoula and Juan Sebastian Elcano, will comprise approximately 109 turbines and will contribute to Portugal's goal of generating 80% of its annual electricity needs from renewable sources by 2026.

Share:

The Irish-Spanish consortium IberBlue Wind has announced plans to invest more than €4 billion ($4.36 billion) in two offshore wind farms off the coast of Portugal and Spain.

Offshore wind energy, a key solution to meet Portugal’s energy needs

The goal is to create a combined installed capacity of 1.96 GW, capable of supplying electricity to more than one million homes. The two parks, named Creoula and Juan Sebastian Elcano, will include approximately 109 turbines and will occupy an area of 530 km² (205 square miles).

The larger of the two wind farms, Creoula, will consist of 80 turbines of 18 MW each and will be located in areas proposed by the Portuguese government for the development of offshore wind farms. The project will contribute to Portugal’s goal of installing 10 GW of offshore wind power by 2030. In January of this year, Portugal launched public consultations on proposals for the delimitation of offshore areas suitable for the development of wind farms, estimating a total investment of between 30 and 40 billion euros by 2030.

IberBlue Wind: a significant investment in renewable energy

The shift to renewable energy sources has been accelerated in Europe due to record gas prices in 2022, following the invasion of Ukraine by Russia, Europe’s main gas supplier. Portugal aims to produce 80% of its annual electricity needs from renewable sources by 2026, up from about 60% in 2022, which was already one of the highest ratios in Europe.

The consortium estimates that the cost of the cross-border development could be 32% lower than the two wind farms developed separately. Consortium partners include Irish offshore floating wind developer Simply Blue Group, the engineering division of Spanish group Grupo Amper and Spanish renewable energy developer FF New Energy Ventures.

Overall, IberBlue Wind’s investment in the two offshore wind farms in Portugal and Spain represents a significant step towards renewable energy sources and will contribute to the growing trend of European nations investing in green energy sources.

  • Populaires ​
Renewable energy: access improving, but financing still insufficient for Africa
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Iberdrola increases supplementary dividend by 16.5% to €0.409 per share
Natural hydrogen: France on the verge of redefining its national and European energy strategy
Iberdrola launches metocean studies for Australian offshore wind farm
TGS wins strategic offshore wind contract in Norway
Energy company TGS has won a major high-resolution geophysical imaging contract for offshore wind site characterization in Norway, strengthening its position in this rapidly growing market.
ENGIE launches largest wind farm in Africa and Middle East in Egypt
ENGIE begins full operation of the Red Sea Wind Energy wind farm in Egypt, increasing its capacity to 650 MW, four months ahead of schedule, now powering over one million homes in the region.
Tokyo Gas acquires two wind projects in Finland via its European subsidiary
Tokyo Gas, through TOWII Renewables, a joint venture with EWII, purchases two onshore wind projects developed by Finnish company Puhuri, totalling 74.4 MW, marking its expansion beyond the Danish market.
Germany allocates €450mn to modernise Lower Saxony’s electricity grid
The European Investment Bank grants EWE AG historic €450mn financing for the installation of 2,600 km of underground power lines and the upgrade of over 1,100 substations in Lower Saxony.
Japan and Siemens Gamesa sign strategic offshore wind agreement
Japan’s Ministry of Industry and Siemens Gamesa Renewable Energy launch a strategic partnership to develop local offshore wind supply chains and strengthen the country's industrial competitiveness in this energy sector.
Energiekontor launches new investment in Nartum wind farm in Lower Saxony
Energiekontor AG confirms financial close for the Nartum wind farm, adding 23 megawatts to its owned portfolio and starting the construction phase in the Rotenburg district, Lower Saxony.
Airloom Energy launches strategic wind energy pilot project in the United States
Airloom Energy begins construction of a pilot site in Wyoming to test an innovative turbine aimed at enhancing American energy security in the face of anticipated growth in electricity demand.
Sale of wind farm in Peru: ACCIONA Energía receives 253 million USD
ACCIONA Energía transfers the San Juan de Marcona wind farm to Luz del Sur S.A.A., a major player in Peru's energy sector, for up to USD 253 million, pending necessary regulatory approvals.
Encavis acquires two German wind farms totalling 59 MW from Energiequelle
German operator Encavis AG strengthens its portfolio by acquiring two wind farms in Lower Saxony and Saxony, totalling 59 MW, in a transaction with Energiequelle GmbH, thereby expanding its renewable energy assets.
Ocergy launches 15 MW floating wind turbine pilot project with international partners
Ocergy officially launches an industrial project aiming to install by 2028 a new-generation floating wind turbine of over 15 MW, in partnership with EnBW, Kyuden Mirai, and TEPCO Renewable Power.
France Officially Launches Its First Floating Wind Farm in the Mediterranean
France officially commissions its first floating wind farm, consisting of three turbines with a combined capacity of 25 megawatts, introducing strategic technology in the Mediterranean, vital for national energy goals.
France: Petit Doré wind farm delivers its first Breton megawatt-hours
Inaugurated on 20 June, the five-turbine plant of wpd onshore France feeds 18 MW into the grid and unlocks new tax revenue for four Côtes-d’Armor municipalities.
Statkraft reduces offshore wind investments following strategic review
Statkraft refocuses investments on flexible Nordic hydropower and reduces commitments in offshore wind and hydrogen to lower operating costs, amid an uncertain economic environment and pressured profitability.
Suzlon secures 170.1 MW order from AMPIN for Andhra Pradesh
Suzlon Group receives third consecutive order from AMPIN Energy Transition to supply 170.1 MW of wind turbines for a project in India's Andhra Pradesh state, strengthening their strategic industrial partnership.
Scotland approves major 1GW floating wind project off Aberdeenshire coast
The Muir Mhòr floating wind project secures Aberdeenshire's onshore consent, paving the way for the potential production of one gigawatt of electricity, enough to power up to 1.2 million British homes by the early 2030s.
Iberdrola España signs wind energy contract with Renfe for 3,700 GWh
Iberdrola España and Renfe conclude a virtual power purchase agreement for 370 GWh per year for ten years, strengthening the use of renewable energy in Spanish railway transport.
TotalEnergies awarded 1GW offshore wind concession in the North Sea
TotalEnergies has been awarded a concession in the North Sea enabling the development of a 1GW offshore wind project, reinforcing its strategic presence in Germany.
Global Offshore Wind Capacity: 85 GW Achieved, 100 GW Targeted by 2026
With an annual increase of 14%, global offshore wind capacity now reaches 85.2 gigawatts, driven mainly by China, the United Kingdom, and Germany, while another 27.3 gigawatts are currently under construction.
TotalEnergies launches geotechnical surveys for the Jammerland Bugt wind farm
Seabed exploration begins in Jammerland Bay to validate the placement of sixteen turbines and the cable corridor, the first tangible step before construction of the project led by TotalEnergies and European Energy.
Thor offshore wind farm prepares its operational centre in Thorsminde
RWE and Østermark Entreprenørforretning celebrate advanced construction of the operational building for Denmark's largest offshore wind farm, promising up to 60 permanent local jobs by 2026.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS