This new infrastructure will make the Islands leader in offshore wind energy and will position them as a strategic location for companies working in the offshore sector, and that operate both in national and European markets.
This pioneering project could also reduce the cost of energy in the islands, which is currently generated using fossil fuels, although some comes from clean energy sources
There is no doubt that the Canary Islands are the perfect place for this kind of clean tech. The European Commission has highlighted this on various occasions, pointing out that the Islands´ potential for successfully developing this type of energy.
This offshore wind farm is also important for the Canary Islands energy policy, which aims to focus on a more sustainable model as well as position the islands as world leaders in offshore wind technology.
However, a 4% corporate tax rate, excellent connections to the rest of Europe, a qualified workforce and a European legal framework have also played an important part in this decision. All these advantages make the Canary Islands a leading strategic location.
Other companies linked to R&D have also chosen Canary Islands to test new, unique offshore wind technology.
An example is Spain’s first offshore wind turbine, generating 5 MW, and the country’s first floating wind platform to be tested in the experimental area of the Canary Islands Oceanic Platform.
All the Islands are committed to renewable energy. Lanzarote, for example, will install on its Northern Coast the mWaveTM, a wave energy device, designed and built by Bombora, to take advantage of the full potential of the waves.
Leading European technological projects that have seen that the Canary Islands´ economic, fiscal, environmental and logistical conditions are a sure bet.