Spain’s Capital Energy invests $2.67 billion in 505 MW floating wind projects off Canary Islands

Capital Energy revealed it invested $2.67 billion in 505 MW of floating wind projects in development around the Canary Islands' waters.

Pablo Alcon, Capital Energy's offshore director, identified the four projects currently in the works as the 255-MW Maresia, the 50-MW Timanfaya, the 150-MW Mencey, and the 50-MW Granadilla.

The Granadilla project is undertaken with Spanish offshore wind specialist BlueFloat Energy.

Since 2021, when Spanish renewables developer Capital Energy entered into its initial collaborations with neighborhood shipyards, it has been pursuing floating wind in the Spanish archipelago of the Atlantic Ocean.

Capital Energy and Shell Plc signed a contract in the spring of 2022 to jointly explore offshore wind development in Spain and Portugal.

This was later followed by the agreement with BlueFloat.