The 18.2MW Chimiche II project will comprise seven 2.6MW turbines with 114-metre rotors.
Compontents for the turbines will be manufactured at SGRE's factories in Galicia and Agreda, north-west and northern Spain respectively.
In August 2016, the utility, which owns an 8% stake in the manufacturer, received approval from the Canary Island authorities to build two wind projects totalling 32MW.
The other project is the 13.8W Las Aulagas project. Both wind farms are due online by the end of 2018.
SGRE claims to have supplied Iberdrola with 4,000 turbines since 2000.