Tuesday, March 21 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Mar 20
Week of Mar 13
Week of Mar 06
Week of Feb 27
Week of Feb 20
By Topic
By News Partner
Gas News
News Customization


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 half of its renewable mega-portfolio in Spain to Norwegian sovereign fund

    January 17, 2023 - CE Noticias Financieras


      Iberdrola and the Norwegian sovereign wealth fund seal a mega-alliance in renewables. The electricity company has signed the transfer to Norges Bank Investment Management of 49% of a portfolio of 1,265 MW (megawatts) of new green capacity in Spain, valued at 1.225 billion euros.

      Both partners signed the agreement on Monday, after months of negotiation. The alliance means that Iberdrola will have a majority stake of 51% and will control and manage the assets, providing operation and maintenance services, among others, as the energy company informed the Spanish Securities and Exchange Commission (CNMV) on Tuesday.

      The agreement has been valued by the power company as "a strategic alliance to co-invest" in the implementation of the aforementioned package of megawatts, consisting of 20% wind capacity and another 80% photovoltaic capacity, located in Spain.

      Norges Bank, which in turn is a shareholder of Iberdrola with more than 3% of the capital of the parent company of the Spanish company, will hold the remaining 49% in this portfolio. The operation, reported by Expansión, is the first direct investment in renewable assets in the country and involves a disbursement by the Nordic fund of 600 million euros.

      The distribution of the green mega-portfolio includes 137 MW operational in Castilla-La Mancha and Aragón, while the rest is under development in Andalusia (358 MW), Extremadura (343 MW), Aragón (175 MW), Castilla y León (102 MW), Madrid (55 MW), Murcia (50 MW), and Castilla-La Mancha (45 MW). This renewable capacity has the capacity to supply energy to more than 700,000 homes per year.


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 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.