Energy firms Repsol and Ørsted have joined forces to develop Spanish offshore wind projects.
The alliance aims to combine Repsol’s expertise as a global multi-energy provider with Ørsted’s experience in offshore wind developments.
Floating offshore wind is now on the brink of commercialisation after years of small-scale testing and development.
The market is expected to reach 21GW of installed capacity by 2035 according to estimates from Bloomberg New Energy Finance.
Spain is targeting 3GW floating offshore wind by the end of the decade.
Commenting on the appeal of the market, Rasmus Errboe, head of Continental Europe at Ørsted, said: ‘Spain has one of the world’s largest fleets of onshore wind and solar PV farms, and by the end of this decade Spain will also be producing green energy at scale from floating offshore wind farms.”
The terms of the partnership have not been disclosed.