Iberdrola has signed an agreement to take 100 per cent ownership of Ailes Marines, the joint venture constructing and operating the Saint-Brieuc offshore wind farm in France. The firm, which previously owned 70 per cent of the consortium’s capital, has acquired the remaining 30 per cent from AvelVor, after receiving the green signal from the French Ministry of the Economy. AvelVor sold its 30 per cent equity in the Euro 2.4 billion investment project, scheduled for commissioning in 2023. The transaction will add momentum to the project, which is scheduled to begin construction in 2021. Once fully operational, the installed capacity of 496 MW will produce enough clean energy to satisfy the needs of around 835,000 consumers. Located approximately 16 km off the coast of Brittany, the Saint-Brieuc plant will require an overall investment of around Euro 2.4 billion.