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Wind Giant Iberdrola to Buy Infigen in Australia Expansion

  • Spain’s Iberdrola to pay $581 million for wind operator
  • Takeover bid trumps an earlier offer led by Ayala Corp.
An Infigen Energy wind farm in New South Wales, Australia.

An Infigen Energy wind farm in New South Wales, Australia.

Photographer: Mark Graham/Bloomberg
Updated on

Spain’s Iberdrola SA, one of the world’s biggest wind power operators, has agreed to buy Australia’s Infigen Energy for A$840.6 million ($581 million), expanding its footprint in a country seen as one of the best places on the planet to develop renewables.

Bilbao-based Iberdrola has more than 18 gigawatts of wind capacity in its global portfolio and has been looking to expand into the Australian market. In January, the group announced a A$500 million investment in a giant wind and solar hybrid project in South Australia in partnership with Ireland’s DP Energy.