Iberdrola has secured a production license from the Portuguese Directorate General for Energy and Geology for a wind farm in the Vila Real and Braga districts. The project has an installed capacity of 274 MW and a production capacity of 601 GWh per year. With an investment of approximately €350 million, the project is designed to integrate wind power with hydroelectric power.
Furthermore, the infrastructure of this project will be integrated into the Tâmega Power Plant System. The project also includes the Tâmega Norte and Tâmega Sul wind farms, which form an integral part of an agreement inked with the Norwegian sovereign wealth fund, managed by Norges Bank Investment Management.
Iberdrola has been strengthening its presence in the wind power sector. In September 2024, the company, through Avangrid, secured a 791 MW contract to develop the New England Wind 1 offshore wind farm. This project is expected to attract $3 billion in regional investments.
