Large energy companies are positioning themselves in the race to control how offshore wind power is distributed. The wave of alliances in Spain and around the world continues to grow as the country braces for a new energy boom. The Anglo-Dutch group Shell has announced an alliance with Spanish firm Capital Energy, a key winner in recent government renewables tenders, aimed at developing joint offshore wind projects across the Spanish and Portuguese markets. This development is reported by El Periódico de España.
Shell brings more than twenty years of experience in wind infrastructure development and more than fifty years in oil operations and marine engineering in the North Sea. The energy giant now eyes a substantial presence in Spain’s floating offshore wind sector, joining forces with Capital Energy, which already has projects totaling around 2,000 MW and aspires to lead Spain’s offshore wind industry while contributing to the success of recent onshore wind tenders.
Capital Energy, the group founded nearly two decades ago by Jesús Martín Buezas, a descendant of the La Sepulvedana bus founders and now a sponsor of Atlético de Madrid, has signed several agreements in recent months. These include partnerships with shipyards and other major industrial players in the Canary Islands to develop offshore wind energy opportunities.
Spain stands at the threshold of an offshore wind revolution that has already unfolded in other markets. While wind power leaders in the United States, the United Kingdom, and Germany are actively deploying projects in their waters, Spain has historically lagged due to deeper territorial waters that challenge fixed offshore turbines. Advances in floating offshore wind technology now offer a path to overcome depth limitations and could position Spain to join the global boom.
In recent months, major energy companies have been designing projects to install wind farms along the Spanish coast. Iberdrola, a global leader in offshore wind, has floating projects with a capacity exceeding 1,200 MW, with planned sites in the Canary Islands and Galicia. Other developers such as BlueFloat Energy and Şener are pursuing around 2,000 MW across multiple locations, including a significant 1,200 MW project off Galicia’s coast. Their portfolios also include floating wind initiatives with partners like EDP Renovables, Engie, ACS, Greenalia, Enerocean, and others, totaling more than 3,000 MW across Galicia, Asturias, the Basque Country, Catalonia, Andalusia, and the Canary Islands.
Repsol and Naturgy have signaled their intent to claim a stake in Spain’s offshore wind potential by forming alliances with global leaders. Repsol has partnered with Danish firm Ørsted, a world leader in offshore wind, to establish a national offshore wind program, while Naturgy has joined forces with Norwegian Equinor to pursue distribution opportunities in the Spanish market.
The offshore wind surge in Spain is framed by an ambitious government plan. In recent months, the government released a Roadmap for Offshore Wind and Offshore Energy, promoting the deployment of new renewables in offshore waters by 2030, with targets ranging from 1,000 to 3,000 MW of floating offshore wind and emerging technologies that harness waves or tidal energy. These efforts aim to build a robust pipeline as the sector moves from pilot projects to large-scale operations.
Now is the moment to lay the groundwork for sustained growth. The Ministry of Ecological Transition, led by Vice-President Teresa Ribera, has opened a public consultation on the new regulatory framework for offshore wind development to enable orderly use of maritime space while safeguarding the environment. The government is scheduled to hold the first floating offshore wind auction in the near term to accelerate project realization.