Local energy company Capital Energy has signed a memorandum of understanding with the Maritime Cluster of the Canary Islands (CMC) as it looks to develop offshore wind farms off the Spanish archipelago.

The developer said it aims at building at least 750MW of the up to 3GW in wind capacity at sea Spain wants to install by 2030.

Capital Energy chief executive Juan José Sánchez said the company is looking to support local enterprises as it works towards “the progressive decarbonisation of the economy through the implementation of renewable energies” via offshore wind projects.