Iberdrola has launched a friendly takeover to acquire 100 % of the Australian renewables company Infigen Energy External link, opens in new window, backed by support from the Managing Board and the main shareholder.
The transaction will cost 840 million Australian dollars or roughly EUR510 million.
For the company captained by Ignacio Galan, which is set to make record investments of EUR10 billion this year, this is its fourth corporate operation in the first semester alone, and further consolidates its position as world leader in renewable energy.
By acquiring a company that boasts 670 megawatts (MW) of wind power in operation - with seven wind farms - and a wind and solar project portfolio of 1 gigawatt (GW) at various stages of development, Iberdrola will rise to the very top of the South Australian market in terms of installed capacity, with almost 1,000 MW
Manned by around 80 workers, this Australian company will also bring the Group another 560 MW in operation through proprietary, leased and capital-lite assets, which includes the power obtained from four PPAs (245 MW) and storage batteries (75 MW).
Acquiring Infigen Energy will enable Iberdrola to tighten its hold on the new and highly relevant market that Australia represents, being a priority market for the Group since it announced plans to launch there earlier this year. The company is already developing the hybrid renewable project at Port Augusta located in South Australia, with a 210 MW wind farm and a 110 MW solar power plant.
Requiring an estimated investment of EUR310 million, work on this complex will begin at the end of this year to have it up and running some time in 2021. Thanks to the Infigen takeover, the energy produced at this complex will be sold to Australian industrial clients.
IBERDROLA'S FOURTH CORPORATE OPERATION IN ONE SEMESTER
The transaction shows that Iberdrola is determined to shake up the international energy sector, this being its fourth corporate operation following another three announced in France and Scotland.
The most recent was on 12 May, announcing the purchase of two onshore wind projects in Scotland totalling a capacity of 165 MW and requiring an investment of around EUR190 million to develop them.
Thanks to this transaction, Iberdrola's UK subsidiary ScottishPower will be developing the third largest wind complex in the country, which is set to reach a capacity of 220 MW by enhancing the 165 MW acquired with another 55 MW from a nearby wind farm that was already in progress and is now being reactivated. This complex, which will require an overall investment of about EUR250 million, will be able to supply green energy to almost 135,000 households.
Shortly before, on 6 May, the Group notified the Spanish National Securities Commission (CNMV) of the acquisition of the French company Aalto Power for just over EUR100 million. Founded in 2005 and headquartered in Marseille, Aalto Power provides Iberdrola with 118 MW of onshore wind power operating in France, plus a portfolio of onshore wind farm projects at different stages of development, adding another 636 MW.
The integration of Aalto Power, owned until a few days ago by Aiolos and Caisse des Depots et Consignations, reinforces the company's growth plans in renewable generation in France, thanks to the projects the company has and its team of professionals.
On 9 March, Iberdrola also acquired 100 % of the capital of the Saint-Brieuc offshore wind farm in France, which will involve an investment of approximately EUR2.5 billion. The 496 MW capacity at this complex, which will begin construction in 2021, will come into operation in 2023, generating enough clean energy to supply 835,000 people.
Located in Brittany, about 16 kilometres off the coast, the Saint-Brieuc wind farm will feature 62 Siemens Gamesa turbines of 8 MW each, which will extend over an area of 75 square kilometres. The wind turbines will reach a total height of 207 metres.
Contact:
Juan Llobell
Tel: +34 91 784 32 32
Email: comunicacioncorporativa@iberdrola.com
IBERDROLA, S.A. 
