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Iberdrola Acquires French Renewables Company Aalto Power

Power News - Published on Fri, 03 Jul 2020

Image Source: Iberdrola Aalto Power
Iberdrola has finalised the acquisition of the French renewable energy company Aalto Power, owned by Aiolos y Caisse des Dépôts et Consignations for EUR 100 million. Founded in 2005 and based in Marseilles, Aalto Power currently has 118 megawatts of onshore wind generation operational in France and a portfolio of onshore wind projects in the country totalling a further 636 MW, at various stages of development. The transaction is subject to compliance with the usual conditions precedent for this type of transaction, mainly approval from the French Finance Ministry, is part of Iberdrola's commitment to boosting its presence and growth in renewable energy in France.

In fact 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, thanks to the company's projects and its team of professionals with experience in the development of this type of infrastructure.

In France, Iberdrola is already progressing the Saint-Brieuc offshore wind farm, of which it took over 100% of the capital in March, and which will involve an investment of approximately EUR 2.5 billion. The 496 MW of power from this complex, which will begin construction in 2021 and come onstream in 2023, will supply enough clean energy to meet the electricity needs of some 835,000 people. Located about 16 kilometres off the coast of Brittany, the Saint-Brieuc farm will use 62 Siemens Gamesa turbines, of 8 MW each, spread over an area of around 75 square kilometres. The turbines will be 207 meter high in total.

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Posted By : Yogender Pancholi on Fri, 03 Jul 2020
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