Austrian Utility Acquires 4.6 GW RE Platform

Verbund Expands In Spain With 4.58 GW Wind & Solar Portfolio Acquisition

Austrian Utility Acquires 4.6 GW RE Platform

Verbund says its acquisition of 4.58 GW of wind and solar energy portfolio in Spain, puts it in a leading position in the country’s energy market as it targets to achieve 2030 objectives. Pictured is the company’s Windpark Bruck/Leitha, Niederösterreich. (Photo Credit: VERBUND)

  • Verbund has expanded its Spanish portfolio with the acquisition of a portfolio of wind and solar energy projects
  • The 4.58 GW capacity comprises 82 MW of regulated and operational solar PV projects
  • Remaining capacity is made up of facilities at an advanced stage of project development and greenfield projects

Austrian electricity utility Verbund AG has acquired a portfolio of around 4.58 GW renewable energy projects in Spain, comprising wind and solar PV capacity from renewable energy investor Q-Energy Group, which expands its presence in the country.

The portfolio comprises 82 MW of regulated and operational PV portfolio and an extensive development platform of solar PV and wind energy projects. Of the portfolio, around 2.1 GW is at an advanced stage of project development while close to 2.4 GW are greenfield projects.

Geographically, the portfolio is concentrated in Castilla-La Mancha region in Central Spain and Andalusia in Southern Spain. Q-Energy Group’s Q-Energy Private Equity manages these through its various funds.

According to Verbund, the 100% acquisition also includes the development team. The transaction puts the company in a leading position in the Spanish energy market, stated the management.

As part of its 2030 strategy, the Austrian company targets to source around 20% to 25% of its total electricity generation from solar PV and onshore wind farms.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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