Transaction Overview
Iberdrola has completed the sale of its Hungarian business, transferring 100% of the shares in Iberdrola Renovables Magyarország KFT to a consortium of Premier Energy and a subsidiary of iG TECH Capital. The transaction, valued at €171 million, includes €128 million for the company's shares and a €43 million dividend distributed prior to completion.
Wind Capacity Details
The assets sold comprise 158 megawatts (MW) of operational wind capacity, which Iberdrola has developed since entering Hungary in 2008. Of this capacity, 124 MW are already selling energy on the open market after completing a 15-year regulated tariff period, while the remaining 34 MW will transition to the open market within a year.
Strategic Alignment
This sale is part of Iberdrola's strategy to concentrate investments on core businesses, such as regulated networks and generation with long-term contracts, and to focus on key markets like the United States and the United Kingdom. Other EU markets and Australia are also set as investment priorities for Iberdrola Energía Internacional.
