Sunday, June 26 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Jun 20
Week of Jun 13
Week of Jun 06
Week of May 30
Week of May 23
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Austria's largest power utility pays 1 billion for a portfolio of solar and wind projects in Spain


    May 9, 2022 - CE Noticias Financieras

     

      Verbund is redoubling its commitment to renewable energies in Spain. Austria's largest electricity company, and one of the continent's largest hydroelectric generators, announced on Monday the purchase of a powerful portfolio of 4.5 gigawatts (GW) in solar photovoltaic and wind projects that belonged to the Q-Energy fund. Market sources point to a price of close to 1 billion euros.

      Almost half of the projects acquired by Verbund (2.1 GW) are at an advanced stage of construction and the rest (2.4 GW) are at an early stage of the process. Most of them are located in the southern part of the country, with Castilla-La Mancha and Andalusia leading the way.

      Although its presence in Spain is recent, this Monday's deal is not the first operation of the Central European company in the Iberian market. Less than four months after its arrival - at the end of November last year, with the purchase of a 148 megawatt (MW) project in the province of Granada - the Austrian giant acquired 70% of four wind farms under development and one solar farm with a total installed capacity of 171 MW that belonged to Capital Energy. The step taken now, however, is much bigger and involves more than multiplying its stake in the Peninsula.

      Verbund's roadmap for 2030 is to grow "significantly in the area of solar and wind", with the goal of 20% to 25% of the total electricity it generates coming from both renewable sources. "This transaction is another important step towards that goal, and allows us to take a leading position in the Spanish energy market," the company said in the statement in which it made the transaction public.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.