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Iberdrola sells wind power assets in Romania for €88 million

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Energy Global,

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 21 March 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 co-investment alliance with Norges Bank Investment Management has recently been expanded to 2500 MW in Iberia.
  • In December, Iberdrola closed an agreement with Masdar to co-invest €15 billion in offshore wind and green hydrogen in Germany, the UK 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.
  • The company has sold more than 8400 MW of gas-fired combined cycle plants in Mexico for US$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.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Spring 2024 issue

The Spring 2024 issue of Energy Global starts with a guest comment from Field on how battery storage sites can serve as a viable solution to curtailed energy, before moving on to a regional report from Théodore Reed-Martin, Editorial Assistant, Energy Global, looking at the state of renewables in Europe. This issue also hosts an array of technical articles on electrical infrastructure, turbine and blade monitoring, battery storage technology, coatings, and more.

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