- Iberdrola plans to invest €1 billion in Australia by 2028.
- Ararat Wind Farm has a capacity of 242 MW and has been operational since 2017.
- Victoria targets 95% renewable energy by 2035.
- Iberdrola has over 2,500 MW of installed capacity in Australia.
Acquisition Details
Iberdrola has acquired the Ararat Wind Farm in Victoria, Australia, from Partners Group and OPTrust. This acquisition marks Iberdrola's first owned generation asset in Victoria and expands its presence to five Australian states.
Capacity and Operations
The Ararat Wind Farm, operational since 2017, has a capacity of 242 megawatts (MW). It is now Iberdrola's largest wind farm in Australia, contributing to the company's renewable energy portfolio.
Investment and Strategy
Iberdrola plans to invest €1 billion in the Australian market by 2028. The company aims to enhance its renewable energy capabilities and secure predictable cash flows through Power Purchase Agreements (PPAs).
Market Presence
With over 2,500 MW of installed capacity, Iberdrola is a leading energy provider in Australia. The company is involved in onshore wind farms, solar plants, and battery projects, and has entered the grid business with the VNI West infrastructure project.
