The Spanish energy utility has taken over the projects from Svea Vind Offshore AB.
The eight potential projects off Sweden’s east coast are in various stages of development with none expected to be commissioned before 2029.
The framework agreement with Svea Vind Offshore allows Iberdrola to take “majority acquisitions” in all eight projects, marking a fifth investment in renewables this year during the Covid-19 crisis.
The agreement marks Iberdrola's entry into Swedish offshore wind.
Earlier this month, Iberdrola announced the launch of a friendly bid to acquire the Australian renewable energy company Infigen Energy for A$840.6 million. It also agreed to buy the French renewables firm Aalto Power for €100 million and take over the €2.4 billion 496MW Saint-Brieuc offshore wind farm in France, shifting its stake from 70% to 100%.
Iberdrola is planning to commission over 4.5GW of new wind capacity this year.