With an offshore portfolio of about 12.5GW, of which 8GW is attributable, the whole sector — from manufacturers to contractors to governments — is watching Iberdrola’s every move.

Although the company was not one of the first big utilities to enter the offshore arena — Dong, RWE, Vattenfall and E.ON have had “steel in the water” for years now — it has been quietly working behind the scenes in recent years, setting up its offshore wind business division in Glasgow, building partnerships with fellow developers and suppliers, and acquiring assets.

It