Iberdrola has agreed to acquire a 40MW wind farm in the Basilicata region of southern Italy, currently jointly owned by Belenergia, an Italian renewable energy group, and RGREEN INVEST, a French investment firm specialising in green infrastructure.
The transaction is, at first glance, quite modest in scale. After all, 40MW is not a headline-grabbing number in an era of gigawatt-scale offshore projects.
But the deal's significance is less about wattage than in what it represents for Iberdrola's bigger picture.
From that angle, this acquisition is about the consolidation of Iberdrola's position in Italy – a market where the Spanish utility has been gradually building its portfolio for a number of years.
The Basilicata wind far was first commissioned in 2018 and has since benefits from a long-term incentive scheme that has guaranteed its owners a stable flow of cash.
