Austrian Integration Group Buys 4.5GW Solar And Wind Platform in Spain
May 10, 2022
Austrian power producer Verbund AG said it has acquired an 82 MWp operating solar park in Spain, as well as a development platform with around 4,500 MW of renewable energy projects in the Iberian country.
The portfolio was sold by funds managed by Q-Energy Private Equity for an undisclosed amount, the buyer said in an exchange filing.
The project platform consists of wind and solar photovoltaic (PV) projects, of which 2,100 MW are in late-stage development and the remaining 2,400 MW are greenfield projects. Most of the items included in the bundle are located in the Castile-La Mancha region in central Spain and Andalusia in the south of the country.
In addition to the platform, Verbund also has a project development team.
The Vienna-based energy company entered the Spanish market in 2021 with the purchase of a 147.6 MW solar project from renewable energy company BayWa re. Developer Capital Energy.
Verbund aims to increase its solar and onshore wind capacity to make up 20% to 25% of its overall power generation portfolio in 2030. Currently, more than 95% of the electricity produced by the company comes from hydropower stations in Austria and southern Germany.
