Iberdrola has signed an agreement with DP Energy acquiring a majority share in its offshore wind projects with a cumulative capacity of 3GW. This marks its entry into the offshore wind market in Ireland. The projects are situated across three groups in the eastern, western and southern coasts of Ireland. Some of these projects will be eligible for the offshore auctions expected to take place during 2025 to 2030.

The offshore projects under the agreement include Inis Ealga wind project located on the southern coast off Co Cork, Clarus project on the western coast off Co Clare and Shelmalere project on the eastern coast. While the first two will use floating offshore wind technology, the third will be using fixed foundations. The projects are expected to generate enough green energy to power the equivalent of 2.6 million households in Ireland.

DP Energy, is an international developer headquartered in Cork. It is also working with Iberdrola in Australia to develop the Port Augusta Renewable Energy Park, a 317 MW hybrid wind and solar project in South Australia. Iberdrola has an offshore wind project pipeline on more than 30 GW across the world. Its offshore wind portfolio now includes projects in the German Baltic Sea, in the North Sea, the Irish Sea, the coast of Massachusetts and France.

Recently, Iberdrola has also taken access to early-stage capacity of 9 GW in Sweden, more than 3 GW in Japan and up to 7.3 GW in Poland.