Saturday, December 3 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Nov 28
Week of Nov 21
Week of Nov 14
Week of Nov 07
Week of Oct 31
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

    Iberdrola sells 49% of a wind farm for US$700 million


    September 15, 2022 - Staff Oil & Gas Magazine

     

      Wikinger is off the island of Rügen and is part of the 1,258 megawatts of offshore wind capacity.

      Spanish utility Iberdrola said Wednesday it had agreed to sell Swiss investment fund Energy Infrastructure Partners (EIP) a 49% stake in a German offshore wind farm for $700 million.

      The sale of the Wikinger wind farm will have no impact on Iberdrola's financial results in 2022, said

      the company, Europe's largest electric utility, in a statement.

      Wikinger is off the island of Rügen and is part of Iberdrola's 1,258 megawatts of offshore wind capacity in operation. Iberdrola estimates it will invest around 30 billion euros worldwide in offshore turbines by 2030.

      Wednesday's statement confirmed a Reuters report published on Tuesday.

      EIP, which manages more than $4.17 billion in assets, is investing in renewable assets in Europe.

      EIP and Crédit Agricole Assurances reached an agreement in June to jointly buy a 25% stake in the renewables subsidiary of Spain's Repsol.

      Iberdrola's deal comes against a backdrop of rising energy prices in Europe, while the European Commission is considering the

      European Commission is studying the possibility of limiting the price at which wind, solar and nuclear power plants can sell electricity to 180 euros per megawatt (MW) hour.

      Iberdrola is selling stakes in its wind developments to help finance its E150 billion investment plan for 2020-2030, mostly dedicated to renewables and power grids.

      In 2019 it sold 40% of a British development to Macquarie's Green Investment Group.

    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.