Iberdrola accelerates growth in Australia with the acquisition of its first wind farm in the state of Victoria

Iberdrola has completed the acquisition of the Ararat wind farm, located in the state of Victoria, Australia, from Partners Group and OPTrust, after obtaining all the necessary approvals to carry out the operation. With this operation, the Group now has a presence in five states across the country: New South Wales, South Australia, Victoria, Queensland and Western Australia.

With a capacity of 242 megawatts (MW) and operational since 2017, the wind farm becomes Iberdrola’s biggest wind farm in Australia and its first owned generation asset in Victoria, the second most populous state in Australia and one of the fastest growing regions.

This acquisition reinforces Iberdrola’s ability to supply its business customers portfolio with own generation while also selling a significant portion of its output through Power Purchase Agreements (PPAs), providing predictable cash flows in a state targeting 95% renewable energy by 2035.

Iberdrola has become one of the energy leaders in the Australian market with more than 2,500 MW of installed capacity, mainly distributed among onshore wind farms, solar plants and batteries. The company has also recently entered the country's grid business with VNI West (Victoria to New South Wales Interconnector West), a key infrastructure project that will connect the states of Victoria and New South Wales.

The operation reaffirms Iberdrola's commitment to expanding electrification through renewables, networks and energy storage to achieve self-sufficiency and energy security in all geographical areas where the Group operates worldwide.

This is the sixth transaction completed by Iberdrola so far this year, following the sale of its onshore generation in France, the sale of mini-hydro assets and the slurry business in Spain, the sale of Hungary and the addition of 650 MW of solar power to the joint venture with Norges.

All these initiatives are aligned with the Iberdrola Group’s strategy of focusing its investments on its core businesses – primarily generation with long-term contracts or regulated networks – and on key markets.