It acquired the remaining 30% equity stake in the project from Avel Vor, a special purpose vehicle comprising clean energy developer RES Group and French bank Caisse des Dépôts, through which the two companies had owned 22.5% and 7.5% stakes in 496MW Saint Brieuc Saint Brieuc (496MW) Offshoreoff Saint-Brieuc, Brittany, France, Europe Click to see full details, respectively.
Construction of the 62-turbine project is due to start in 2021 ahead of full commissioning in 2023.
Iberdrola’s global managing director for offshore wind, Jonathan Cole, said the project’s “funding is secured and contracts are signed”. But added there are still unresolved “legal and administrative matters” outstanding.
Saint Brieuc is due to feature 62 Siemens Gamesa SG 8.0-167 DD turbines and will be built in a 75km2 area off the Brittany coast.
RES Group explained it divested its shares in Saint Brieuc as the “development and securing phase of the project” has now been completed.
It added that it plans to bid in France’s next 1GW offshore wind tender, which is due to be held later this year.
The Ailes Marines consortium secured the rights to build the wind farm off France’s north-west coast in 2012 in the country’s first offshore wind tender.
However, legal challenges — including from thwarted bidder Nass&Wind, which was unsuccessful in the auction despite submitting a lower bid than Ailes Marines — and lengthy permitting procedures have slowed Saint Brieuc’s development.
Nass&Wind bid as part of a consortium with EDF Renewables and Ørsted and won three of the four projects awarded in 2012.
The French ministry of industry explained at the time it did not want to award all the projects to one group in order to spread the risk and maximise industrial benefits.