Iberdrola, S.A. (BME:IBE) has hired Barclays Plc (LON:BARC) to help it land a minority investor in some 1,200 MW of wind and solar power assets in Spain, Spanish business news outlet Expansion reported on 26 September 2022 citing unidentified market sources. The investment bank is meant to act as a financial advisor as Iberdrola looks to unload a 49% stake in the portfolio to green energy-focused sovereign and infrastructure funds and insurance companies. According to Expansion, the utility is in search of a passive partner that would not interfere in its management, but would contribute funds to speed up the project development.

In the portfolio are 200 MW of operating solar farms, while the rest are projects in development -- 80% of them solar PV, and 20% wind power, the report states. Iberdrola, which declined to comment on the news report, would use the funds to continue developing new projects, sources for the outlet said.