Spanish Iberdrola buys 163 MW of onshore wind farms

Spanish utility group Iberdrola SA announced that it has reached an agreement to acquire 163 MW of onshore wind power capacity in Poland from private equity company CEE Equity Partners.

The capacity is divided between two operating wind farms totalling 112.5 MW and one 50.4-MW project, the construction of which is due to start shortly.

Almost all of the production output associated with these assets is covered by ten-year power purchase agreements (PPAs), Iberdrola said.

Financial details were not disclosed.

With this acquisition, Iberdrola is launching the Baltic Sea Hub, which will act as a centre for the group’s onshore and offshore services and provide local content for projects located in Germany, Sweden and Poland, the company said.

The latest move in Poland follows Iberdrola’s December 2020 arrangement to take a stake in an up to 7,300-MW offshore wind pipeline in the country. The company calls Poland one of its “new growth markets” for renewables.

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