Iberdrola acquires 100% stake in €2.4 billion French wind energy project


Following approval from the French Ministry of the Economy, Iberdrola now owns the Ailes Marines, an offshore wind energy project developer.

Iberdrola has increased its share in Ailes Marines from 70% to 100% after an acquisition deal with Avel Vor, a consortium of RES and Caisse des Dépôts.

Ailes is developing, constructing and operating the 496MW Saint-Brieuc offshore wind farm in France.

Once operational in 2023, the €2.4 billion project will produce enough clean energy to energise 835,000 consumers.

Located 16km off the coast of Brittany, the Saint-Brieuc plant will have 62 Siemens Gamesa wind turbines, each with an 8MW capacity, installed in a 75-square-km area. The turbines will have a total height of 207 meters.

Jonathan Cole, Iberdrola’s Global Managing Director for offshore wind, said: “The Saint-Brieuc project is now ready to get started on construction. All agreements are in place, the funding is secured and contracts are signed. Our detailed Industrial Plan will also support new factories and highly-skilled clean energy jobs in France. We are hoping that the final legal and administrative matters will be concluded quickly, and then this major €2.4 billion investment in a cleaner energy future will be ready to run full speed.”

Iberdrola has a wind energy project pipeline of circa 12.4GW in three main areas: the North Sea, the Baltic Sea and the United States.

With €13.26 billion (39%) out of Iberdrola’s total €34 billion global investment plan up to 2022 earmarked for renewables, offshore wind is a cornerstone of the company’s strategy.

Enlit Europe will gather in Milan between 30 November and 02 December 2021 and will feature innovative companies accelerating decarbonisation at Europe’s largest gathering of companies driving and leading the energy transition. Are you going to be there?
Click here to join us in Milan.