Canadian Solar enjoys solid Q2, raises 2022 revenue guidance
Aug 18, 2022 16:39 CESTIberdrola, Mapfre create JV to invest in 1 GW of Spanish renewables
Iberdrola CEO Ignacio Galan (left) with Mapfre Chairman Antonio Huertas. Image by Iberdrola (www.ibedrola.com)
April 7 (Renewables Now) - Iberdrola SA (BME:IBE) has formed a joint venture (JV) with Spanish insurer Mapfre SA (BME:MAP) to invest in up to 1 GW of renewable energy projects in Spain.
The investment vehicle will start out with two operating wind farms with a combined capacity of 100 MW and 130 MW of solar photovoltaic (PV) projects due for commissioning in the third quarter of 2022, Iberdrola said.
The projects come from Iberdrola’s portfolio, the Spanish utility adds.
Mapfre holds an 80% stake in the JV, with Iberdrola owning the remainder and taking on the developing, construction and wind farm operation duties.
Under the agreement, the JV will fill up with more operating assets over time, as well as add new developing renewable energy projects from Iberdrola’s pipeline until the portfolio hits 1 GW.
More stories to explore
Capital Energy, GRI Towers Sevilla to partner on wind power equipment in Spain
Aug 18, 2022 14:57 CEST
Bahrain seeks developer of 72-MW solar project
Aug 18, 2022 14:33 CEST
ILI Group wins consent for 50-MW battery scheme in Scotland
Aug 18, 2022 14:31 CEST
Meyer Burger lands up-to-5-GW solar module supply contract in US
Aug 18, 2022 14:10 CEST
Germany's 7C Solarparken seeks to raise EUR 7.9m in share issue
Aug 18, 2022 13:55 CESTShare this story
Tags
About the author