Iberdrola Sells Hungarian Business for €171 Million
- Iberdrola sells 158 MW of wind capacity in Hungary to Premier Energy and iG TECH CC.
- The assets will enter the wholesale market after the 15-year tariff period ends.
- 124 MW are already in the free market; 34 MW will follow within a year.
- The transaction is subject to regulatory approvals.
Transaction Overview
Iberdrola has agreed to sell its Hungarian business, Iberdrola Renovables Magyarország KFT, to a consortium of Premier Energy and iG TECH CC for €171.2 million. This includes a dividend distributed prior to closing.
Asset Details
The sale involves 158 MW of operational wind capacity, commissioned since 2008. These assets will soon enter the wholesale market as the 15-year regulatory tariff period concludes. Currently, 124 MW are already operating in the free market, with the remaining 34 MW expected to do so within a year.
Strategic Alignment
This transaction aligns with Iberdrola's strategy to concentrate investments on key markets, particularly in the United States and the United Kingdom. The focus is on networks and regulated or long-term contracted generation, ensuring income stability and predictability.
Regulatory Approvals
The deal is pending standard regulatory approvals. It is part of Iberdrola's broader strategy to focus on core EU markets and Australia, alongside other strategic alliances and asset rotation transactions announced for 2025.
Source: Iberdrola