Wedoany.com Report-Dec.28, Iberdrola has signed an agreement with Partners Group and OPTrust to acquire full ownership of the Ararat wind farm in Victoria, Australia.

Most of the electricity from the Ararat wind farm is sold under PPAs.

The facility, operational since 2017, has an installed capacity of 242 MW. A significant portion of its electricity output is secured through power purchase agreements with established customers, ensuring consistent revenue.

The asset is well-positioned to capitalize on increasing electricity demand in Victoria, where authorities aim for 95 percent renewable energy sourcing by 2035. Upcoming transmission enhancements, including the Western Renewable Link and Project Energy Connect, are expected to improve power export capabilities.

This transaction supports Iberdrola's objective to expand its renewable portfolio in Australia, contributing to national efforts toward greater electrification and clean energy adoption.

The deal remains subject to customary closing requirements.

It forms part of Iberdrola Group's 2025-2028 strategic framework, which allocates over €1 billion for investments in Australia. Globally, the plan involves €58 billion, with 85 percent directed to markets offering stable regulatory environments.

Recent activities in Australia include the October acquisition of the Tungkillo battery energy storage system and selection as development partner for the Victorian segment of the Victoria-New South Wales Interconnector.

In September, Iberdrola increased its stake in Brazilian distributor Neoenergia by an additional 30.29 percent.

These steps highlight the company's focus on growing renewable generation and supporting infrastructure in key regions.