Iberdrola signs prelim agreement to buy 98 MW of Polish wind and solar projects

Iberdrola SA has signed a preliminary agreement to acquire 98 MW of wind and solar projects in Poland. The portfolio is comprised of six solar farm developments with a combined capacity of 48 MW as well as two wind projects with a total capacity of 50 MW. 

The deal is signed with Augusta Energy sp z.o.o., a joint venture (JV) between KGAL and V-Ridium Power Group, the Polish subsidiary of Greenvolt Energias Renovaveis SA. The specifics of the transaction were not shared.

All of the projects are supported by a power purchase agreement (PPA) with the Polish telecommunications company T-Mobile Polska for a period of 15 years. Iberdrola anticipates that the projects will begin operations in 2023.