The Austrian giant Verbund continues to grow strongly in Spain and has just announced an agreement with Q-Energy to acquire a renewables platform of more than 2,100 MW in wind and solar projects and 82 MWp of photovoltaic operations, in addition to another 2,400 MW under development for close to 1 billion euros.
The transaction will also mean that the company will retain a development team to boost Verbund's activities in Spain. It will acquire 100% of the shares in this portfolio.
The projects are located throughout Spain. Based on projected capacity, the geographic focus of the projects is in the Castilla-La Mancha region in central Spain and Andalusia in southern Spain. The vendors are various funds of the Q-Energy Group.
Verbund's 2030 strategy foresees significant growth in solar and wind energy, with the goal of producing around 20-25% of total electricity generated from PV systems and onshore wind farms by 2030.
Following the successful entry into the Spanish market at the end of November 2021 with the lllora project, and the acquisition of a 70% stake in one solar and four wind power project companies in Spain from Capital Energy Power Vortice in March 2022, this transaction is another important step towards achieving this goal and enables Verbund to take a leading position in the Spanish energy market.
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