The complex will be Honduras' second wind park once it is completed in the municipality of San Marcos de Colón, 87 miles south of capital Tegucigalpa.
In a statement, Iberdrola said it will responsible for engineering, procurement and construction and startup of the project and the associated substation, as well as a 25 mile transmission line to connect to the grid.
Gamesa will supply 25 2 MW G90 wind turbines.
In March, the project developer announced plans to bring San Marcos online in November.
The companies also took part in developing the 102 MW Honduran wind park Cerro de Hula. An expansion is underway to take capacity to 126 MW.
The country's installed capacity in December totaled 982 MW thermo, 558 MW hydro, 106 MW biomass and 102 MW wind power.