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 D茅p么ts, through which the two companies had owned 22.5% and 7.5% stakes in 496MW Saint-Brieuc , respectively.
Construction of the 62-turbine project is due to start in 2021 ahead of full commissioning in 2023.
Iberdrola鈥檚 global managing director for offshore wind, Jonathan Cole, said the project鈥檚 鈥渇unding is secured and contracts are signed鈥. But added there are still unresolved 鈥渓egal and administrative matters鈥 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 鈥渄evelopment and securing phase of the project鈥 has now been completed.
It added that it plans to bid in France鈥檚聽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鈥檚 north-west coast in 2012 in the country鈥檚 first offshore wind tender.
However, legal challenges 鈥 including from thwarted bidder Nass&Wind, which was unsuccessful in the auction despite submitting a lower bid than Ailes Marines 鈥 and lengthy permitting procedures have slowed Saint Brieuc鈥檚 development.聽
Nass&Wind bid as part of a consortium with EDF Renewables聽and 脴rsted and聽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.
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