Iberdrola has agreed to sell all shares in Iberdrola Renovables Magyarország KFT, its Hungarian business, to a consortium comprising Premier Energy and Hungarian group iG TECH CC. The transaction will provide Iberdrola with €171.2 million, including a dividend distributed before closing.
The assets involved include 158 MW of operational wind capacity, developed since 2008. Of this, 124 MW are already operating in the wholesale market, while the remaining 34 MW will follow within a year as regulatory tariff periods end. The sale remains subject to regulatory approval.
The divestment is part of Iberdrola’s strategy to concentrate investment on priority markets such as the USA and the UK, as well as regulated or long-term contracted generation projects. It also reflects the focus of Iberdrola Energía Internacional on core EU markets and Australia.
