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2024-04-29 08:05:00.0Iberdrola sells its wind power assets in Romania for €88 million
Iberdrola progresses with its plan to divest non-core assets
Iberdrola sells its wind power assets in Romania for €88 million [PDF] - Premier Energy Group acquires 100% of the ‘Eolica Dobrogea One’ wind company, previously owned by Iberdrola, which owns 80 MW of wind power in the region
Iberdrola is progressing with its plan to divest non-core assets, reaching an agreement with Premier Energy Group to sell its renewables assets in Romania for €88 million. Premier Energy Group, through its Romanian subsidiary, Premier Renewable Invest Co SRL, has acquired 100% of the ‘Eolica Dobrogea One’ wind energy company, previously owned by Iberdrola.
The 80 MW capacity of wind power now sold means that Iberdrola will no longer have any assets in Romania. The sale is subject to standard regulatory approvals for this type of transaction in Romania.
Asset Rotation Plan
This divestment is part of the Strategic Plan presented on March 21st by Iberdrola London, where the company set an asset rotation target of €12.2 billion in the 2024-2026 period.
In recent months, Iberdrola has closed several long-term alliances to promote the decarbonisation of the economy, including:
- A major 1,265MW co-investment alliance with Norges Bank Investment Management was expanded in January by nearly 700 MW, to deliver new renewables assets in Spain and Portugal.
- n December, Iberdrola closed an agreement with Masdar to co-invest €15 billion in offshore wind and green hydrogen in Germany, the United Kingdom and the US, following the successful investment agreement announced in July to co-invest in the Baltic Eagle offshore wind farm.
- Last September, Iberdrola partnered with GIC for the expansion of transmission networks in Brazil for 430 million euros.
- The company has sold more than 8,400 MW of gas-fired combined cycle plants in Mexico for $6.2 billion.
- Iberdrola and BP also signed a strategic alliance in March to deploy 11,700 fast charging points in Spain and Portugal, and launched their joint venture on 1 December
- Iberdrola and MAPFRE have continued to advance their strategic alliance by incorporating 150 new MW through a joint venture, which already has 450 MW.
- In addition, a few months ago Iberdrola signed an alliance with Energy Infrastructure Partners to co-invest in the Wikinger offshore wind farm and boost its offshore wind portfolio.