We mate with AXA IM for coastal wind energy development in France
The French company would come a nonage shareholder in the development of a 1000 MW wind ranch in Normandy, should Iberdrola be awarded the design.
The Iberdrola group and AXA IM Alts moment inked a Memorandum of Understanding to unite in the deployment of coastal wind energy in France. Under this agreement, the French establishment will share as a nonage shareholder in the development of a 1000 wind ranch in Normandy, should Iberdrola be awarded the design in the transaction in which it has formerly been shortlisted. flings for this tender, nominated AO4, will be sumitted on November 10 and the award is listed for the first quarter of 2023. The unborn point will be located further than 30 kilometers off the seacoast of Normandy, in an area with veritably favorable wind and seabed conditions for thistechnology.With this sale- subject to carrying nonsupervisory blessings- AXA IM Alts advances its strategy of generating sustainable value for its guests with a high commitment to social impact, values it completely shares with the Iberdrola Group. With€ 184 billion of means under operation, AXA IM Alts has a crucial presence inFrance.In addition to this tender, Iberdrola has also beenpre-qualified for the development of three other coastal wind energy systems each with a capacity of 250 MW. Two of them in the Gulf of León, in the waters of the Mediterranean Sea, which are anticipated to be awarded in the fall of 2023 and are listed for commissioning in 2030. The third design the company is bidding for is France’s unborn first floating coastal wind ranch, to be erected some 20 kilometers off Pointe des Poulains, a promontory at the northwestern tip of Belle- Île in Brittany. The French government plans to designate the winner of the tender coming spring, so that it can start operating in2030.2.5 BILLION INVESTMENT IN THE SAINT- BRIEUC PARKIberdrola is presently completing the Saint- Brieuc wind ranch, which will be the group’s first large coastal wind ranch in France. With nearly 500 MW of capacity, it’ll induce enough clean energy to meet the electricity consumption of,000 people, once it enters into operation in 2023. Located some 16 kilometers from the seacoast, it’ll cover an area of 75 square kilometers. Its construction involves an overall investment of around€2.5billion.This new installation demonstrates Iberdrola’s commitment to the French request, where the company plans to invest some€ 4 billion by 2025, substantially in renewable systems. The design involves the creation of further than,700 jobs, half of them in Galicia and Asturias thanks to Iberdrola’s award of the largest coastal wind contract to date won by Navantia-Windar.The factory will come the company’s fourth coastal wind ranch in operation, after West of Duddon Sands, located in the Irish Sea; Wikinger, in the Baltic Sea; and East Anglia ONE, one of the world’s largest coastal wind developments, located in the southern NorthSea.OFFSHORE WIND, KEY TO IBERDROLA’S GROWTHThe company also has three other large coastal wind granges presently under construction. In the UK, construction has begun on the East Anglia Three coastal wind ranch, which will have a capacity of,400 megawatts( MW), enough to supply1.3 million homes with clean energy, further than the populations of Liverpool and Glasgowcombined.This new installation, located off the seacoast of Norfolk, near the London metropolitan area, will form part of the East Anglia Hubmacro-complex, together with the unborn East Anglia One North and East Anglia Two developments. This mecca is the Iberdrola group’s largest action of this technology in the world and will involve an investment of£6.5 billion( around7.7 billion euros) for the installation of,000MW.In the United States, Iberdrola is erecting what will be the country’s first marketable- scale wind ranch, Vineyard Wind 1( 806 MW), off the seacoast of the state of Massachusetts, with an investment of around€2.5 billion. This installation will be suitable to meet the energy requirements of further than,000 homes and will help the emigration of further than1.6 million tons of CO2 peryear.In Germany, the group has started to make its alternate major coastal wind action in the country, after Wikinger. The 476 MW wind ranch, called Baltic Eagle, will be suitable to meet the demand of,000 homes and avoid the emigration of nearly one million tons of CO2 into the atmosphere each time. The company also plans to develop a third coastal design in this area Windanker( 300 MW). Together, the three renewable installations will give rise to the largest coastal wind complex in the Baltic Sea, with a total installed capacity of,100 MW and a combined investment of roughly€3.5billion.Offshore wind power is one of the keys to Iberdrola’s growth. Just as the group was a colonist in its commitment to onshore wind energy two decades ago, the company is leading the development of coastal windpower.Iberdrola has a portfolio of systems in the United States, the United Kingdom, Germany, Poland, Sweden, Ireland, Taiwan, Japan, the Philippines and Brazil, which could increase in the coming times thanks to the multitudinous deals in which it’s sharing.
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