Iberdrola Completes Sale of 158 MW Operational Wind Portfolio in Hungary for €171 Million
Iberdrola has completed the sale of its Hungarian renewable energy business, including 158 MW of operational onshore wind capacity, to a consortium led by Premier Energy and iG TECH Capital for a total value of €171 million. The transaction marks Iberdrola’s exit from the Hungarian market.
Transaction date: · Source: iberdrola.com
Key facts
- Transaction date
- Technology
- Onshore Wind
- Capacity
- 158 MW
- Transaction price
- 171 million (currency as reported in the source)
- Buyer
- Consortium of Premier Energy, iG TECH Capital
- Seller
- Iberdrola
- Country
- Hungary
- Location
- Multiple locations across Hungary
- Continent
- Europe
- Development status
- Operational
- PPA
- n.a.
Technology details
The portfolio consists of 158 MW of operational onshore wind capacity commissioned by Iberdrola since 2008. Of this total, 124 MW are already selling electricity on the open market after completing a 15-year regulated tariff period, while the remaining 34 MW will transition to the open market within one year.
Additional information
Iberdrola sold 100% of the shares in Iberdrola Renovables Magyarország KFT, completing its exit from the Hungarian market. The total transaction value of EUR 171 million comprises EUR 128 million for the shares and EUR 43 million paid as a dividend prior to completion. The sale aligns with Iberdrola’s strategy to focus investment on regulated networks and long-term contracted generation in core markets such as the United States and the United Kingdom.
Source
Original announcement: https://www.iberdrola.com/press-room/news/detail/iberdrola-completes-sale-its-business-hungary-171-million