Iberdrola, a Spanish energy company, and Augusta Energy have reached a tentative agreement for Iberdrola to purchase a 98 MW wind and solar portfolio in Poland. The portfolio consists of six solar photovoltaic facilities with a combined capacity of 48 MW and two wind farms with a combined capacity of 50 MW. 

Reportedly, all of the projects are currently under construction and are anticipated to begin in 2023. Once operational, they will provide T-Mobile Polska with renewable energy as part of a 15-year power purchase deal (PPA). No financial details have been disclosed. The acquisition will strengthen Iberdrola’s footprint in Poland and increase the company’s installed capacity in the country to 261MW.

Recently, the European Investment Bank (EIB) granted a green loan of $562.49 million to Spanish energy company Iberdrola to fund domestic renewable energy projects. The loan amount is anticipated to be used to build wind farms and solar plants with a combined capacity of roughly 1,800 MW in Spain. The loan would be used to finance projects in many municipalities around Spain, with a focus on Castilla y León and Extremadura’s rural areas.