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Iberdrola secures option for majority stakes in Swedish offshore wind projects

Iberdrola secures option for majority stakes in Swedish offshore wind projects

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IIberdrola said the projects, in the Baltic Sea, are at various stages of development and have a combined capacity of 9 gigawatts (GW)

LONDON: Iberdrola has signed an agreement giving it the option to take a majority stake in up to eight Swedish offshore wind projects, the Spanish utility said on Tuesday.

It previously said it will invest 10 billion euros in 2020 in areas such as renewables.

Financial details of the deal with renewables company Svea Wind Offshore were not revealed.

Iberdrola said the projects, in the Baltic Sea, are at various stages of development and have a combined capacity of 9 gigawatts (GW).

The first of the projects is expected to start generating electricity in 2029, Iberdrola said.

Source: reuters
Anand Gupta Editor - EQ Int'l Media Network
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