Iberdrola in takeover bid for Australian renewables firm
17 June, 2020
Spanish energy firm Iberdrola has made an US$569m (£453m) offer for Australian renewable energy company Infigen Energy.
Infigen’s portfolio currently consists of 670MW of wind power, 268MW of firming assets, 246MW of additional renewable capacity via power purchase agreements and a development pipeline of projects.
The move will bolster Iberdrola’s Australian portfolio, adding to its 320MW Port Augusta Renewables Energy Park that is currently under construction in South Australia.
The board of Infigen Energy recommended unanimously that the company’s shareholders accept the offer following an unsuccessful takeover bid by Philippines-based conglomerate Ayala.