Iberdrola Completes Acquisition of 242 MW Ararat Wind Farm in Australia

Iberdrola has completed the acquisition of the Ararat Wind Farm, located in the state of Victoria, Australia, from Partners Group and OPTrust. With this acquisition, the company now operates across five Australian states — New South Wales, South Australia, Victoria, Queensland and Western Australia, reinforcing its position as one of the leading renewable energy players in the region.

Largest Iberdrola Wind Asset in Australia

The 242 MW Ararat Wind Farm, operational since 2017, becomes Iberdrola’s largest wind generation asset in Australia. The project also marks the company’s first owned generation asset in Victoria, Australia’s second-most populous state and one of the fastest-growing electricity markets in the country.

The wind farm strengthens Iberdrola’s renewable generation portfolio and helps it to enhance the delivery of clean electricity to commercial and industrial customers across Australia.

Supporting Corporate PPAs and Stable Revenue

The acquisition allows Iberdrola to supply electricity directly to its growing portfolio of business customers using its own generation assets. 

A significant portion of the wind farm’s electricity output is expected to be sold through Power Purchase Agreements (PPAs), providing stable and predictable revenue streams.

Expanding Renewable Footprint in Australia

Iberdrola has rapidly expanded its renewable energy presence in Australia and currently operates more than 2,500 MW of installed capacity across the country. Its portfolio includes onshore wind projects, solar power plants and battery energy storage systems (BESS).

Beyond generation assets, the company has also recently entered the country’s transmission infrastructure sector through the VNI West project, a major electricity interconnector designed to link the power grids of Victoria and New South Wales. 

The Ararat deal is also the sixth transaction completed by Iberdrola this year. Earlier in the year, the company divested several assets, including its onshore generation portfolio in France, mini-hydro assets and slurry business in Spain, and operations in Hungary. It also expanded its renewable portfolio by adding 650 MW of solar capacity to its joint venture with Norges Bank Investment Management.

Notably, the state of Victoria aims to source 95 percent of its electricity from renewable energy by 2035.