Iberdrola has confirmed its intention to invest £6bn to develop the 3.1GW East Anglia Hub offshore wind complex in the southern North Sea. The project will be made through Scottish Power Renewables, the company’s UK subsidiary.
The East Anglia Hub consists of three wind farms that will be constructed off the coast of Suffolk. These include the 800MW East Anglia ONE North, the 900MW East Anglia TWO, and the 1.4GW East Anglia THREE projects.
The offshore wind complex will be able to power over 2.7m houses. Furthermore, it will contribute more than 7.5% to the UK’s target of reaching 40GW of installed offshore wind generation by the end of this decade.
The East Anglia Hub will be Iberdrola’s largest offshore wind power project to date. The company believes that the development, construction, and operation phases of the project will produce up to 7,000 jobs.
After obtaining the required permits, the new investment package will be part of a larger £10bn investment allocated by the Spanish group in its 2020-2025 plan.
Based on the outcome of the considerations, Iberdrola anticipates construction work on the East Anglia Hub to begin in 2023, with completion likely to be achieved by 2026.
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