Spanish energy utility giant Iberdrola is set to acquire a 42MW solar PV plant in Lazio, Italy, from Austrian renewables firm CCE, a move that will bring its total installed renewable capacity in the country to 400MW.
According to the firm, the 42MW plant, commissioned less than six months ago, is backed by long-term power purchase agreements (PPAs), providing stable and predictable cash flows.
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The asset will be integrated into Iberdrola’s Etruria complex, which is set to reach a combined capacity of 174MW, comprising 23MW at Montalto di Castro, 33MW at Tarquinia, 7MW at Montefiascone, 33MW at Limes 15, 18MW at Limes 10 and 18MW at Tuscania. The company also operates the 243MW Fenix solar plant in Sicily, which Iberdrola has described as its largest in Italy to date.
The transaction remains subject to customary closing conditions. It aligns with Iberdrola’s 2025-2028 strategic plan, which targets up to €58 billion (US$68 billion) in total investment, including €21 billion allocated for generation assets under long-term contracts.
The strategy is reflected in recent deals, including the acquisition of the 242MW Ararat Wind Farm in Australia and the addition of 650MW of solar capacity to its joint venture with Norges Bank Investment Management.
The company reached 8.7GW of installed photovoltaic capacity by the end of 2025. Under its 2025-2028 strategy, Iberdrola has earmarked around 10% of its renewable investment programme for solar, targeting an additional 2,100MW of capacity additions over the period.
Apart from Italy, the group is active across Spain, the US, Mexico, Brazil, Portugal, Italy, Australia, Germany and the UK, while also maintaining smaller projects and ongoing developments in markets including Poland, Greece, Romania and Cyprus.
