Spain’s Iberdrola has completed the sale of three small hydro plants in the province of Castellón in eastern Spain to Austrian energy service provider Kelag.
The agreement includes plants with a total installed capacity of 35 MW. However, this could be expanded in the future to include additional small hydro assets.
The names of the plants were not disclosed.
Kelag manages around 100 hydroelectric power plants, as well as a range of hydropower purchase and subscription rights, with a total installed capacity of 1,500 MW in Austria.
This is the company’s second acquisition in Spain, after the purchase of four hydroelectric plants in 2022.
This transaction is part of Iberdrola’s non-strategic asset rotation program for the period 2023 to 2025, announced in its strategic plan last year, which has already been 100% completed to support a record investment of €47 billion (US$50.5 billion).
This article was originally published on sister site Power Engineering International.
Iberdrola supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the UK, Portugal, France, Germany, Italy and Greece), the U.S., Brazil, Mexico and Australia. Iberdrola has invested more than €130 billion ($142.6 billion) over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
