February 5, 2021

Illustration - Credit: zentilia/AdobeStock

Illustration – Credit: zentilia/AdobeStock

Spain’s largest power company Iberdrola said on Friday it agreed to buy a majority stake in a portfolio of offshore wind farm projects currently developed by Irish renewable energy company DP Energy.

Iberdrola did not disclose how much it paid for the stake in the projects off Ireland that will be eligible for forthcoming auctions to be held between 2025 and 2030.

Last November, Iberdrola said it would invest 75 billion euros ($89.72 billion) in renewable energy production, grids, and retail operations by 2025.

($1 = 0.8360 euros)

 (Reporting by Inti Landauro; Editing by Andrew Cawthorne)

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