SSE Renewables and Acciona have signed an agreement to form a 50/50 joint venture to enter the emerging Spanish and Portuguese offshore wind markets.
Together, SSE Renewables and Acciona will create a JV with expertise throughout the development, construction and operation of offshore wind and wider renewables in the Iberian market and regulatory landscape. The exclusive agreement between SSE Renewables and Acciona also includes scope to jointly explore other offshore wind markets beyond Spain and Portugal.
Spain and Portugal have both set net zero emissions targets for 2050 and are two of the leading countries in Europe for renewable energy in terms of capacity built to date and ambitions for the future. The Spanish Government is expected to publish an offshore wind strategy this year.
"I am delighted to be entering into this exclusivity agreement with Acciona. Partnering with a well-established Spanish renewable developer will enable SSE Renewables to bring its offshore wind expertise to help Spain and Portugal achieve their ambition to reach carbon neutrality by 2050. It also demonstrates our intent to build our strong wind energy pipeline beyond the UK and Ireland," said Jim Smith, Managing Director of SSE Renewables.
Rafael Mateo, CEO of Acciona Energy, said: “After successfully developing a leading global position in onshore wind and photovoltaic technologies, a partnership with SSE Renewables will allow us to accelerate our entry into the offshore wind market, where we also see great potential. It is a natural step forward in our strategy of providing the best possible alternatives for clients looking for clean energy solutions.”