Renewable energy giant Iberdrola has secured a majority stake in eight Swedish offshore wind projects with 9GW total capacity,

This comes after an agreement with the renewables company Svea Vind Offshore AB (SVO).

The projects, which are in various stages of development and are expected to commence operations in 2029, include six wind farms totalling 5.1GW of power in Gavle and two projects totalling another 3.9GW in Oxelosund.

SVO’s first offshore wind farm, the 250MW Utposten I, is in the stage of receiving environmental permits.

The Swedish Government aims to have 100% of its electricity coming from renewable energy sources by 2040.

Iberdrola has announced it will invest ten billion euros in renewable energy projects this year.