Iberdrola and Norway’s Wealth Fund: Powering Up Spain’s Renewable Energy Future
Exciting news from the clean energy frontier as Iberdrola seals a deal with Norway’s sovereign wealth fund, adding a whopping 644MW of renewable energy to their Iberian alliance in Spain.
These new projects are all about solar power, with one plant already making waves in Extremadura at 328MW and another soon to rise in Castilla y Leon at 316MW.
Managed through Norges Bank Investment Management, this partnership boosts Iberdrola’s development pipeline to approximately 2500MW, with the company retaining a solid 51% majority stake in these assets.
What’s more, this expansion marks just the beginning. Back in January, both powerhouses hinted at doubling their collaboration, and now, with an additional 644MW in the mix, the sky’s the limit.
Both solar giants have secured Power Purchase Agreements (PPAs) for their production, ensuring a sustainable and reliable energy supply.
But the alliance doesn’t stop here. With talks of future expansions into other countries, this partnership is a beacon of global clean energy leadership.
Norges Bank Investment Management, with its massive €1.4tn in assets and stakes in over 9000 companies worldwide, brings unparalleled expertise and resources to the table. And as a longstanding investor in Iberdrola, their commitment to sustainability and growth is unwavering.
This alliance isn’t just about numbers—it’s about driving real change in the renewable energy landscape. Stay tuned as Iberdrola and Norway’s wealth fund illuminate a brighter, greener future for us all! 💡🌍 #RenewableEnergy #SustainableFuture #CleanEnergyPartnership
Credit: [Image: Iberdrola]