Iberdrola has increased its renewable energy footprint in Poland, one of the company’s new growth markets. The group has reached an agreement with CEE Equity Partner to acquire three new onshore wind farms with a total capacity of 163 MW. The production from the facilities is largely already covered by 10-year power purchase agreements (PPAs). Two of the projects, with a joint capacity of 112.5 MW, are already operational, while the third one, with 50.4 MW capacity, will start construction shortly.
The agreement reinforces Iberdrola’s commitment to Poland, strengthening the company’s position to be at the forefront of the energy transition in the country. It follows the recent acquisition of 70% of the developer Sea Wind, which has a pipeline of seven offshore projects with a potential capacity of up to 7300 MW.
The transaction is in line with Iberdrola's growth strategy in countries with an ‘A’ rating (amounting for over 75% of its Ebitda in 2020) and ambitious renewables targets: Poland plans to have 23% of its energy mix from clean energy by 2030 and commission 8000 MW of offshore wind capacity in this decade.
This new acquisition also boosts the company’s renewables Baltic Sea Hub which will act as a centre for offshore and onshore services, as well as providing local content for Iberdrola's projects in the Germany-Poland-Sweden axis. The Baltic has an offshore wind development potential of 93 000 MW, of which 28 000 MW would be located in Polish waters.
The deal reflects Iberdrola's strategy to consolidate its global leadership in wind power and comes on top of a dozen transactions completed over the past 12 months both in offshore and onshore wind. The company has strengthened its position in markets such as France, the UK, the US and Brazil and new growth markets such as Australia, Japan, Sweden, Poland and Ireland.
In onshore wind, the group's onshore wind pipeline exceeded 16 000 MW at the end of 2020, while its offshore portfolio stood at 19 000 MW of which 9000 MW are ready for construction.
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Read the article online at: https://www.energyglobal.com/wind/29032021/three-polish-wind-farms-acquired-by-iberdrola/