Iberdrola will acquire a portfolio of renewable projects in Poland
Spanish energy company Iberdrola has reached a preliminary agreement with Augusta Energy to acquire a portfolio of 98 MW wind and solar projects in Poland.
The portfolio includes two wind farms with a combined capacity of 50 MW, as well as six solar photovoltaic power plants, with a combined capacity of 48 MW.
All projects are currently in development and should go live next year.
Once operational, they will supply clean energy to T-Mobile Polska under a 15-year power purchase agreement (PPA).
Financial details of the deal were not disclosed.
Augusta Energy is a joint venture of V-ridium Power Group and asset management company KGAL.
The agreement aims to strengthen Iberdrola’s presence in Poland and will increase the company’s installed capacity in the country to 261 MW.
In a statement, Iberdrola said: “Iberdrola is also developing several offshore wind technology projects in Poland and participating in the Polish government’s tender for different areas of the Baltic Sea.
“The projects will be integrated into the Baltic Sea Hub, the group’s hub that will serve as the epicenter of its renewable activity in Germany, Poland and Sweden.”
In May this year, Iberdrola began construction work on the 50.5 MW Korytnica II wind farm in Poland, which is expected to come into service next year.
The company also operates the 30 MW Zopowy wind farm in the Opole region, as well as the Korytnica I wind farm with a capacity of 82.5 MW.
Based in Bilbao, Spain, Iberdrola has nearly 39,000 MW of total renewable capacity and claims to have one of the cleanest power generation fleets in the global energy industry.
Last month, the company secured a 550 million euro ($562.49 million) green loan from the European Investment Bank (EIB) to finance the development of renewable energy projects in Spain.