Iberdrola reinforces itself in Australia with the purchase of a 242 MW wind farm
Iberdrola has reached an agreement to acquire 100% of the Ararat wind farm, located in the state of VictoriaAustralia, to Partners Group and OPTrust, as reported this Friday by the company chaired by Ignacio Sánchez Galán, which has not revealed the amount of the operation.
The acquisition of Ararat wind farm is also consistent with the group’s 2025-2028 planrecently presented, which foresees total investments of more than €1 billion in Australia.
This park, operational since 2017, has an installed capacity of 242 megawatts (MW) and markets most of its production through power purchase contracts (PPAs) with large customers, providing predictable cash flows and, in the future, will benefit from expected price increases amid growing demand for renewable energy in Victoria.
Iberdrola has stressed that this acquisition also reinforces its ability to supply energy to its portfolio of business clients with its own generation in Victoria, a state that aims to reach 95% renewable energy by 2035.
Additionally, the wind farm will benefit from upcoming transmission infrastructure projects, such as the Western Renewable Link and Project Energy Connectincreasing its options to export energy, as highlighted by the energy company.
“The operation, which is subject to certain conditions common in this type of transaction, reaffirms Iberdrola’s commitment to the expansion of renewable energies in Australiain line with the country’s electrification strategy,” the company has highlighted.
Iberdrola’s 2025-2028 plan contemplates a total investment of 58,000 million eurosof which 85% will go to A-rated countries with stable, predictable and attractive regulatory frameworks.
The United Kingdom will be the main investment destination, with 20,000 million eurosfollowed by the United States, with 16,000 million, the Iberian Peninsula, with 9,000 million, Brazil, with 7,000 million, and other EU countries and Australia, with 5,000 million.
