Iberdrola, Norges Agree to Buy Additional 500MW of Renewable Assets in Iberia
May 31 2023 - 7:10AM
Dow Jones News
By Giulia Petroni
Iberdrola said Wednesday that Norway's sovereign fund has
obtained legal requirements to co-invest in 1.265 gigawatts of new
renewable capacity in Spain, and plan to get an additional 500 MW
of assets in the Iberian Peninsula.
The Spanish energy group said the 1.265-GW portfolio consists of
80% of solar photovoltaic assets and 20% of wind assets. The
company will retain a 51% controlling stake in the portfolio,
providing operation and maintenance services.
In January, Norges said it agreed to pay 600 million euros
($643.09 million) for a 49% stake in the 1.265-GW portfolio.
Further details on the additional 500 MW weren't released.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
May 31, 2023 07:55 ET (11:55 GMT)
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