Iberdrola expands with Ararat wind farm acquisition in Australia

Group 1 - Iberdrola has signed an agreement to acquire full ownership of the Ararat wind farm in Victoria, Australia, which has an installed capacity of 242MW and has been operational since 2017 [1][2] - The wind farm's electricity is primarily sold under power purchase agreements (PPAs) with major customers, ensuring stable revenue streams [1] - The acquisition aligns with Iberdrola's strategic plan for 2025-28, which includes over €1bn ($1.17bn) of planned investment in Australia [3] Group 2 - The Ararat wind farm is expected to benefit from rising electricity prices due to increasing demand for renewable energy in Victoria, where the government aims for 95% renewable energy sourcing by 2035 [2] - Upcoming transmission upgrades, such as the Western Renewable Link and Project Energy Connect, will enhance the wind farm's ability to export power [2] - This acquisition supports Iberdrola's strategy to expand its renewable energy portfolio in Australia and contributes to the country's electrification goals [3][4] Group 3 - Iberdrola's overall investment strategy includes a total of €58bn, with 85% allocated to countries with an A credit rating and favorable regulatory conditions [5] - The UK is set to receive €20bn, the US €16bn, the Iberian Peninsula €9bn, Brazil €7bn, and €5bn for other EU nations and Australia [5] - In September, Iberdrola also agreed to acquire an additional 30.29% stake in Neoenergia, a Brazilian energy distributor [5]