Iberdrola to invest up to US$3 billion in Australian renewables as it targets 4GW portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
The Spanish utility has an installed capacity of 1,062MW in solar, wind and battery storage in Australia. Image: Iberdrola.

Spanish utility giant Iberdrola has committed to invest between €2-3 billion (US$1.99-2.99 billion) in renewables in Australia in the “coming years”, more than doubling its existing investment of €2 billion.

The utility, which currently has a 2GW portfolio of development projects and an installed capacity of 1,062MW of solar, wind and battery storage in Australia, aims to reach 4GW of installed renewables capacity in the country.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Since the acquisition of renewables firm Infigen Energy, now Iberdrola Australia, in 2020, the Spanish energy company has invested in several solar and wind projects in the country as well as acquiring engineering, procurement and construction (EPC) provider Autonomous Energy.

Ignacio Galán, CEO of Iberdrola, said: “With these investments, Australia is consolidating its position as one of Iberdrola’s key markets. The country’s abundant wind and solar resources, as well as the pace of technological development, place this region in a privileged position.”

Iberdrola is targeting eye-watering investment levels in renewables moving forward after committing to double its investment to more than €150 billion by 2030 with a high focus in Spain. It recently commissioned Europe’s largest solar plant at 590MW and is working on a pipeline of 1.4GW of solar PV set to come online in the coming months.

Moreover, the company has also invested in green hydrogen, partnering with Porcelanosa, Mitsubishi, BP and Enagas among others as part of a €3 billion investment in the technology earlier this year.

Read Next

February 6, 2025
Samsung C&T Renewable Energy Australia has submitted a 250MW solar-plus-BESS site in New South Wales to the Australian government’s EPBC Act.
February 6, 2025
Potentia Energy is set to acquire controlling stakes in a 1.2GW renewable energy generation and energy storage portfolio in Australia.
February 5, 2025
Floating solar PV in Australia has received a boost, as Canopy Power Australia and Ocean Sun, a Norwegian company specialising in floating solar technology, revealed a strategic partnership yesterday (4 February).
February 3, 2025
The deal will see Amazon buying 212MW of solar PV and 254MW of wind power from Iberdrola across Spain and Portugal
February 3, 2025
Australia-based Clean Energy Investor Group (CEIG) has suggested that the outdated National Electricity Market (NEM) design is stifling investment in large-scale renewable generation projects in Australia.
January 31, 2025
ARENA will provide AU$20.8 million (US$12.9 million) in funding to a project focused on operating distributed energy resources (DERs) within Western Australia’s South West Interconnected System (SWIS).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 17, 2025
London, UK
Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany