Global Infrastructure SherpaNorges Bank Investment Management acquires 49% interest in Iberdrola's 1.2 GW renewable energy portfolio in Spain
USD600M
Deal Value
1265 MW
Capacity
Norges Bank Investment Management acquired a 49% interest in Iberdrola's 1.2 GW Spanish renewable energy portfolio for an estimated €1.2 billion. The portfolio comprises operational.
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Norges Bank Investment Management is partnering with global energy leader Iberdrola, acquiring a 49% stake in a 1.2 GW Spanish renewable portfolio for €600 million. This deal sees NBIM take a significant position in a hybrid mix of seven solar and five onshore wind projects. Iberdrola will retain 51% ownership and operate the assets, which include projects under development. These new assets are expected to come online between 2023 and 2025, highlighting a long-term commitment to the region's clean energy build-out.
- Norges Bank acquired 49% of 1265 MW portfolio.
- €600 million investment for the stake.
- Portfolio includes 7 solar, 5 onshore wind projects.
- Iberdrola retains 51% and will operate assets through 2025.
Timeline
Announced
Jan 16, 2023
Signed
Closed
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