Global renewables giant Iberdrola plans to build floating wind farms off Ireland after a deal to acquire a majority stake in a 3GW project pipeline.

The Spanish group said it will take a controlling interest in the projects under development by DP Energy, with a view to entering national auctions later in the decade. Financial terms were not disclosed.

Two of the projects – Inis Ealga off County Cork and Clarus off Co Clare – will both be floating developments, with the third, Shelmalere, to use fixed foundations off the east coast.