Iberdrola has completed the purchase of the 242MW Ararat wind farm in Victoria, Australia, from Partners Group and OPTrust, after securing all necessary approvals.
This acquisition, which was announced in December 2025, is part of the company’s strategy of focusing on core businesses and key markets, with plans to invest €1bn ($1.16bn) in Australia by 2028.
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The Ararat wind farm, operational since 2017, is Iberdrola’s first owned generation asset in Victoria.
With this purchase, Iberdrola strengthens its presence across the Australian states of Victoria, New South Wales (NSW), South Australia, Queensland and Western Australia.
The acquisition enables Iberdrola to supply its business customers with generation from its own assets, while also engaging in power purchase agreements for a major portion of its output.
Victoria aims to reach 95% renewable energy by 2035.
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By GlobalDataIberdrola currently holds more than 2.5GW of installed capacity across Australia, predominantly in solar plants, onshore wind farms and battery storage.
In addition to expanding its generation portfolio, Iberdrola has recently ventured into the Australian grid sector with the Victoria to New South Wales Interconnector West project. This infrastructure initiative will connect the states of Victoria and NSW.
This is the sixth transaction Iberdrola has undertaken this year.
Previous activities include selling its onshore generation assets in France, divesting mini-hydro assets and a slurry business in Spain, offloading assets in Hungary and adding 650MW of solar capacity to its joint venture with Norges.
These activities align with Iberdrola’s broader objective to expand electrification through renewables, networks and energy storage globally, aiming for self-sufficiency and energy security.
In September 2025, Iberdrola expanded its co-investment alliance with Norway’s sovereign wealth fund, managed by Norges Bank Investment Management, with the addition of 708MW of renewable capacity from two photovoltaic projects in Extremadura, Spain.
