The offshore wind projects won by Iberdrola this summer will mean €3B in purchases from Basque companies

• The company won contracts in recent tenders in the UK for the East Anglia 2 development and in the US for the New England Wind 1 wind farm
• These developments represent a new opportunity to boost the value chain in the region and to position Basque industry as an international benchmark 
• Iberdrola, one of the driving forces of the Basque Country’s economy, contributed 3.7% of total regional GDP in 2023 and has supported 30,000 jobs in the Basque Country

Ignacio Galán, Executive Chairman of Iberdrola, today held his first meeting with the Lehendakari, President of the Basque Government, Imanol Pradales, in Vitoria-Gasteiz. The meeting, at the headquarters of the Basque Government (Lehendakaritza), is part of the regular meetings between the Executive Chairman of the company and the authorities of the Basque institutions. 

The Executive Chairman of Iberdrola has conveyed to the Lehendakari the company’s firm commitment to the Basque Country. This is reflected in the recent orders that Iberdrola has placed with Basque suppliers to carry out the offshore wind projects it recently won in the United Kingdom and the United States, which will involve a combined investment of more than €10 B. This is the case of its East Anglia 2 project, which will have a capacity of 963 MW, and for which orders worth €1.6 B have been placed with companies such as Siemens Gamesa and Euskal Forging. It also has a new offshore development in the United States, New England Wind 1, with a capacity of 791 MW, and it is in very advanced negotiations to place orders for an additional €1.5 B with Basque companies.

These collaborations reflect Iberdrola’s long-standing ties with the Basque Country, where it has spent decades promoting the revitalisation of industry and the improvement of the competitiveness of its business fabric, as well as the creation of quality jobs in cutting-edge industries. Iberdrola’s global growth has become a driving force for the internationalisation of hundreds of Basque companies, which have been demonstrating for years their ability to provide the highest quality, highly competitive products and services all over the world.

Supply contracts linked to the energy transition are especially noteworthy, such as the flanges for the foundations of the company’s offshore wind farms, manufactured by Euskal Forging, the AC integration system for the energy storage systems with batteries for six photovoltaic plants (Almaraz I, Almaraz II, Andévalo, Revilla Vallejera), to be supplied by Jema Energy and Ingeteam, and the stators for Villarino, by Ingeteam Indar Machines. 

In 2023, Iberdrola once again surpassed its record for its socio-economic contribution to the Basque Country, with an impact of 3.7% of the Basque GDP in the year in terms of investments, purchases, salaries and tax contributions. 

The purchases made by the company in 2023 from 500 suppliers in the Basque Country, including companies such as Haizea Wind, Ingeteam, Ormazabal, Arteche, EDS Ingeniería y Montajes, Lizelan, Boslan, and Idom, already support a total of 30,000 jobs – in addition to its own 1,800 jobs – according to a report by PriceWaterhouseCoopers.