Iberdrola has joined forces with Norway’s sovereign wealth fund (Government Pension Fund Global) to invest in 1.26GW of new renewable energy capacity in Spain – a fifth of which, or about 250MW, will be wind.
The remainder (about 80%) of the portfolio will consist of solar PV.
Iberdrola will hold a majority 51% stake in the assets, and will control and manage the assets, and provide operations and maintenance services.
The partners value the portfolio at approximately €1.2 billion.
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