wiredinUSA August 2020

Photo by Gonz DDL on Unsplash

Power takeover

Iberdrola has finalized its acquisition of the French renewable energy company Aalto Power. Founded in 2005 and based in Marseilles, Aalto Power has 118MW of onshore wind generation in France and a portfolio of onshore wind projects at various stages of development, totaling a further 636MW. The purchase of Aalto Power will not only provide Iberdrola with its first operational megawatts on French soil, but will also

boost its plans in the area of renewable generation.

In France, 16km off the coast of Brittany, Iberdrola is already progressing the 496MW Saint-Brieuc offshore wind farm, which will begin construction in 2021 and come on stream in 2023. Over the previous six months Iberdrola has completed five corporate acquisition operations within the renewable sector in Australia, Sweden, France itself and the UK.

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wiredInUSA - August 2020