Spanish utility Iberdrola has announced it will invest up to €3bn to grow its renewable energy capacity to 4 GW in Australia. The company has 2 GW of renewable projects in its Australian portfolio and expects to add 2 GW more in the coming years by investing between €2bn and €3bn.
Iberdrola entered the Australian market in 2020 to take over the Australian renewable company Infigen Energy. Since then they acquired the green energy company Autonomous Energy and increased their local portfolio with a number of large-scale renewable projects, notably the 1 GW Mount James wind power project, acquired in April 2022 and the 317 MW Port Augusta wind and solar hybrid project, installed in 2021.
Currently, Iberdrola has a total 1,062 MW of wind, solar and batteries installed in Australia, with plans to commission 391 MW in 2023.
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