Iberdrola to Expand its Renewable Capacity in Poland With 98 MW of Wind and Solar Projects

Iberdrola has closed a preliminary agreement for the acquisition of 98 megawatts (MW) of wind and solar projects in Poland with Augusta Energy sp. z o.o., a joint venture between Greenvolt subsidiary V-ridium Power Group and asset manager KGAL.

The transaction includes two wind farms with a combined capacity of 50 MW and six PV plants totalling 48 MW. All projects are currently under construction and are part of a 15-year PPA agreed with T-Mobile Polska, indexed to the consumer price index (CPI). The projects are expected to be commissioned in 2023.

Iberdrola is expanding its presence in Poland, a key growth market for the company, and this transaction will increase its installed renewable capacity to 261 MW.

The acquisition follows the purchase in 2021 of the operational wind farms Zopowy (30 MW) and Korytnica I (82.5 MW), and the Korytnica II wind project (50.5 MW), the construction of which Iberdrola started in June this year and whose operational phase will also start in 2023.

Iberdrola is also developing several offshore wind technology projects in Poland and is participating in the Polish government's call for tenders for different areas of the Baltic Sea. The projects will be incorporated into the Baltic Sea Hub, the group's hub that will act as the epicentre of its renewable activity in Germany, Poland and Sweden.

Iberdrola is a world leader in renewable energy, with an installed capacity of almost 39,000 MW, making its power generation fleet one of the cleanest in the energy sector.