Iberdola Is Entering Asia through the Philippines

IBERDROLA, the world’s second-largest wind power producer, has signed a deal to form a consortium that will develop offshore wind power in the Philippines. It is also the largest offshore wind energy provider in the United Kingdom. Iberdrola has a development presence in three continents – Europe, North America, and South America. The Philippine project will provide its foothold in Asia. The company has subsidiaries in France, Germany, Italy, Portugal, and the UK (Scottish Power) in Europe; the USA (Avangrid) in North America; and Brazil (Neoenergia) in South America.

The Philippine project is a 3.5-gigawatt offshore wind farm somewhere in a still undisclosed sea in the country. Although the eventual joint corporation is still undisclosed, two other members of the consortium are Filipino-owned Triconti ECC and Swiss-owned Stream Invest Holdings AG.

Triconti ECC is a wholly-owned subsidiary of the Windkraft Group, the largest wind energy developer in the Philippines with a portfolio of 0.5 GW onshore and 1.3 GW offshore projects. Meanwhile, Stream Invest is an investment holding company with a focus on international renewable energy with a 35.8 MW renewable energy portfolio under operational management.

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