Iberdrola to spend up to EUR 3bn on renewables in Australia
Port Augusta Project, South Australia. Image by Iberdrola, S.A. (www.iberdrola.com)
September 6 (Renewables Now) - Iberdrola SA (BME:IBE) has pledged to invest up to EUR 3 billion (USD 2.99bn) to grow its renewable energy capacity in Australia, the company announced on Monday.
The Spanish utility has over 2,000 MW of projects in the portfolio, and expects to reach 4,000 MW in the coming years, it said as Iberdrola chairman Ignacio Galan starts its three-day visit to Australia.
Iberdrola first arrived in Australia in 2020 to take over domestic renewables company Infigen Energy. Since then, the utility group acquired Australian green energy and behind-the-meter solutions provider Autonomous Energy and boosted the local portfolio with a number of large-scale wind and solar projects, among them the 1-GW Mount James wind power development and the 317-MW Port Augusta wind and solar hybrid.
At present, Iberdrola has 1,062 MW of wind, solar and batteries installed in Australia, with plans to commission 391 MW in 2023.
Earlier this year, the group set up the electricity networks business in the country.
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