Iberdrola Acquires 3 GW Offshore Project Pipeline in Ireland

Iberdrola has added to its offshore wind ambitions by entering the market in Ireland, as the company seeks to expand its global renewable energy footprint. The agreement will see Iberdrola acquire a majority stake in DP Energy's offshore wind pipeline in Ireland, which totals 3 GW. The projects are located in three clusters of which some will be eligible for the forthcoming offshore auctions in 2025-2030.

The agreement also includes Iberdrola acquiring a majority stake in the company created by DP Energy, that will be responsible for developing this wind pipeline in Ireland.

The projects included in the agreement are the Inis Ealga wind farm on the south coast of Co Cork and the Clarus project on the west coast of Co Clare, both to be developed with floating offshore wind technology. Additionally, the Shelmalere project will be located off the east coast and will be developed using fixed foundations.

Ireland has ambitious climate change mitigation policies in place to transform its energy mix, with the Government planning to have 5 GW of offshore wind capacity operational by 2030. Estimates suggest there could be up to 40 GW of potential for offshore development.