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.
Iberdrola launches offshore division in UK
UK: Iberdrola Renovables has announced plans to create a global offshore arm and locate its head office in Glasgow, Scotland.
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