Iberdrola has acquired three wind farms in Poland with a total capacity of 163MW.
Iberdrola reached an agreement with CEE Equity Partner to acquire the three facilities.
Two, which together total 112.5MW, are already operational, while the third one (50.4MW) will start construction shortly.
The majority of the three wind farm’s output is covered by power purchase agreements.
The agreement follows the recent acquisition of 70% of the developer Sea Wind, which has a pipeline of seven offshore projects with a potential capacity of up to 7,300 MW.
The transaction is in line with the Iberdrola’s growth strategy in countries with an “A” rating (amounting for over 75% of its EBITDA in 2020) and ambitious renewables targets.
Poland plans to have 23% of its energy mix from clean energy by 2030 and commission 8000MW of offshore wind capacity in this decade.
The three wind farms will be incorporated into Iberdrola’s Baltic Sea Hub that will act as the centre of its wind energy activities in Germany, Poland and Sweden.
The Baltic has an offshore wind development potential of 93,000MW, of which 28,000MW would be located in Polish waters.
In onshore wind, Iberdrola’s onshore wind pipeline exceeded 16,000MW at the end of 2020, while its offshore portfolio stood at 19,000MW of which 9GW is ready for construction.
The company has launched a major €75bn investment plan for the period 2020-2025, with the aim of doubling its renewable capacity.