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March 29, 2021

Iberdrola signs agreement to acquire Polish wind farms

Spain-based energy company Iberdrola has signed an agreement with CEE Equity Partners to acquire three onshore wind farms in Poland.

By Umesh Ellichipuram

Spain-based energy company Iberdrola has signed an agreement with CEE Equity Partners to acquire three onshore wind farms in Poland.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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With a combined capacity of 163MW, the wind farms have ten years of power purchase agreements (PPAs) in place.

Two of the wind projects are currently operational, while construction works for the third are due to begin shortly.

Through this acquisition, Iberdrola has increased its renewable energy footprint in Poland, which it says is a new growth market.

The financial details of the deal have not been disclosed.

Iberdrola said in a statement: “This transaction is in line with Iberdrola ‘s growth strategy in countries with an ‘A’ rating (amounting for over 75% of its EBITDA last year) and ambitious renewable energy targets.

“Poland plans to have 23% of its energy mix from clean energy by 2030 and commission 8,000MW of offshore wind capacity this decade.”

These projects will be incorporated into the company’s Baltic Sea Hub, which will serve as the centre of its wind energy activities in Germany, Poland and Sweden.

The hub will also provide local content for Iberdrola ‘s projects in the Germany-Poland-Sweden axis.

Iberdrola said that the Baltic has an offshore wind development potential of 93,000MW, of which 28,000MW will be in Polish waters.

In December, the company signed an agreement to acquire a 50% stake in offshore wind development company Sea Wind, which has a seven-project pipeline.

The projects, which were in the early stages of development at the time, have a potential capacity of up to 7.3GW.

The deal was in line with Iberdrola ’s geographical diversification strategy in investment-friendly markets and creates a Baltic hub together with offshore wind projects in Germany and Sweden.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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