Published: 17 June 2020 17 June 2020
Iberdrola has launched a friendly takeover to acquire 100 % of the Australian renewables company Infigen Energy, backed by support from the Managing Board and the main shareholder (TCI Fund Management, holding 33 % of shares). The transaction will cost 840 million Australian dollars or roughly € 510 million.
Infigen Energy has a portfolio of 670MW of wind power in operation, with seven wind farms, and a wind and solar project portfolio of 1GW at various stages of development. Manned by around 80 workers, this Australian company will also bring the Group another 560MW in operation through proprietary, leased and capital-lite assets, which includes the power obtained from four PPAs (245MW) and storage batteries (75MW).
Iberdrola is already developing the hybrid renewable project at Port Augusta located in South Australia, with a 210 MW wind farm and a 110 MW solar power plant.