Spanish multinational utility Iberdrola has signed a €100m deal with Aiolos and Caisse des Depots et Consignations as part of efforts to expand its presence in the French renewables sector.
The deal includes the utility acquiring renewable energy firm Aalto Power, the owner of 118 MW of onshore wind energy capacity and up to 636 MW of projects under development since formation in 2005.
The acquisition is expected to help Iberdrola to reach its goal of making one million new customers in Europe by 2023 and has brought the utility’s first operating megawatt in France.
Iberdrola has been developing a €2.5bn 496 MW Saint-Brieuc offshore wind farm project in France. The project will comprise 62 Siemens Games turbines (each with a total height of 207m), and is set to go live in 2023. It will power 835,000 people.