Iberdrola has closed a preliminary agreement for the acquisition of 98 megawatts (MW) of wind and solar projects in Poland with Augusta Energy, a joint venture between Greenvolt subsidiary V-ridium Power Group and asset manager KGAL, the Spanish company said yesterday, without specifying the amount of the transaction.
Specifically, the transaction includes two wind farms with a combined capacity of 50 MW and six photovoltaic plants totalling 48 MW.
All projects are currently under construction and are part of a 15-year PPA with T-Mobile Polska, indexed to the consumer price index (CPI). The projects are expected to be operational in 2023.
The group chaired by Ignacio Sánchez Galán is expanding its presence in Poland, a key growth market for the company, and this transaction will enable it to increase its installed renewable capacity to 261 MW in the country.
Last year, Iberdrola acquired the operational wind farms Zopowy (30 MW) and Korytnica I (82.5 MW) and the Korytnica II wind project (50.5 MW), the construction of which the company began in June this year and whose operational phase will also begin in 2023.
The energy company is also developing several offshore wind technology projects in Poland and is participating in the tender called by the Polish government for different areas of the Baltic Sea.
The projects will be incorporated into the ‘Baltic Sea Hub’, the group’s hub that will act as the epicentre of its renewable activity in the Germany, Poland and Sweden axis.