The Offshore Wind Division will be incorporated into the company’s UK business, Scottish Power Renewables.
The new division will spearhead plans to build a 7.2GW offshore East Anglia Array project in the North Sea. Iberdrola was awarded the rights to the project, along with Vattenfall, as part of the Round 3 offshore consultation.
Scottish Power chief Keith Anderson will head up the Offshore Wind Division.
Last week Iberdrola announced its investment plans for the renewables sector with €9 billion allocated for the sector over the next three years. The company recorded a €2.8 billion profit last year.
In total, the company plans to invest 18 billion up to 2012, consolidating its international expansion and strengthening its involvement in renewables generation.
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