Iberdrola's affiliate ScottishPower Renewables and Macquarie’s Green Investment Group (GIG) have completed the installation of turbines at the 714 MW East Anglia ONE offshore wind project in the United Kingdom. The £2.5 bn (€2.8bn) wind park is expected to be commissioned in 2020.
In August 2019, ScottishPower Renewables sold 40% of the East Anglia One project to GIG; according to the transaction terms, ScottishPower Renewables will receive £1.9bn (€2.2bn) once the park is completed. The project produced its first power and was connected to the power grid in September 2019.
Iberdrola aims to develop a 10 GW offshore wind project portfolio in three main areas: the North Sea, the Baltic Sea and the United States. The company will allocate 39% of the €34bn earmarked investment for the 2018-2022 period into wind offshore projects.
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