Iberdrola Wins 15% of Wind Capacity Auctioned in Poland
Iberdrola is making progress in its commitment to develop renewables in Poland, one of the company's new growth markets for the years ahead. The company has been awarded 50 megawatts (MW) of the total 300 MW of onshore wind capacity auctioned in the country, representing almost 17% of the total. This brings the company's onshore wind capacity in operation and under development in the country to 163 MW, after recently completing its agreement with CEE Equity Partners, signed in March. This deal included the acquisition of two operational wind farms, with 112.5 MW of capacity, and access to a third, with 50 MW, confirmed today at the auction.
Almost all of Iberdrola´s onshore wind capacity in Poland is associated with 10-year power purchase agreements (PPAs). The company also has a portfolio of seven offshore projects, with a potential capacity of up to 7,300 MW, following the recent acquisition of 70% of the developer Sea Wind.
With these offshore projects Iberdrola is working on the implementation of the Baltic Sea Hub. The Hub will act as a focal point for offshore and onshore services, as well as providing local content for Iberdrola's projects in Germany, Poland and Sweden. The Baltic Sea has an offshore wind development potential of 93,000 MW, of which 28,000 MW would be in Polish waters.
The result of auction also confirms Iberdrola's commitment to Poland, where it operates a local development team. It also reaffirms the company's strategy of growing in A-rated countries - more than 75% of its Ebitda in 2020 came from A-rated countries.