Austrian Verbund AG acquires 2.1-GW-portfolio in Spain

Austria’s largest electricity supplier Verbund AG has acquired a portfolio of PV and wind power projects in Spain »at an advanced stage«. The company puts the total output of the portfolio, which was taken over »together with its development team«, at around 2.1 gigawatts. In addition, there are »greenfield projects« with a further 2.4 gigawatts. Verbund also took over a portfolio of solar power plants already in operation with a total capacity of 82 megawatts.
According to Verbund, the sellers of the projects are several funds of Q-Energy, a fund manager specializing in renewable energy. The sites are »located across Spain,« with a focus on the regions of Castilla-La Mancha and Andalusia. The company said the transaction follows its strategy of using PV and onshore wind to account for around 20 to 25 percent of its total generation by 2030. Verbund currently produces more than 95 percent of its electricity from hydropower.

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