Iberdrola secures monetary viability for 16 new UK renewables tasks

The brand of Spanish utility firm Iberdrola is seen outdoors its headquarters in Madrid, Spain, Might 23, 2018. REUTERS/Sergio Perez

MADRID, July 7 (Reuters) – Spanish energy group Iberdrola (IBE.MC) will develop 16 new renewables tasks within the UK after it secured their monetary viability via contracts for distinction (CfD) with the British authorities, the corporate mentioned on Thursday.

By means of ScottishPower, its subsidiary within the UK, Iberdrola has obtained CfDs for its giant East Anglia Three offshore wind undertaking in addition to 5 smaller onshore wind tasks and 10 photovoltaic websites.

The information is a vital step in the direction of the development of the East Anglia Three offshore wind farm, which can contain investments of about 4 billion euros, the corporate mentioned.

Reporting by Yann Morell Y Alcover; Modifying by Hugh Lawson

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