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Iberdrola Targets Asia-Pacific Growth With Foray Into Australia

  • Spanish group planning wind, solar plant in country’s south
  • Plans about A$500 million renewables investment Down Under
Wind Energy Production In Colorado

Photographer: Matthew Staver/Bloomberg

Spain’s Iberdrola SA has selected a site for its first project in the Asia-Pacific region, as Europe’s biggest renewable generator looks to expand beyond its core markets.

The Bilbao-based company seeks to start a 320-megawatt hybrid wind and solar plant in South Australia in 2021, kicking off planned investments of about A$500 million ($340 million) in the country’s renewables sector, it said in an emailed statement.