The Australian mining company Fortescue Ltd. is becoming the main contender to acquire a stake in the portfolio of solar assets of the Spanish energy company Iberdrola SA. This is reported by foreign media.
Fortescue plans to acquire a 49% stake in assets with a capacity of 1 GW, the total value of which is estimated at 900 million euros ($1 billion) under the Julieta Project.
Fortescue is on the list of bidders for the acquisition of Project Julieta assets jointly with Abu Dhabi's state-owned energy company Masdar and the Norwegian investment fund.
Iberdrola, Europe's largest developer of renewable energy sources, regularly sells shares in projects in order to reduce debt obligations and increase investments in the development of electric grids. In 2023, Iberdrola sold a stake in the Spanish solar portfolio to the Norwegian company Norges Bank Investment Management, and then concluded two more asset sales deals.
In addition, Iberdrola is seeking to expand its presence in Australia as part of a planned investment of more than 1 billion euros in the battery development segment until 2028.
Fortescue Ltd is an Australian mining company that develops and sells iron ore, copper and lithium, as well as rare earths in Australia, China and other countries. The company is also engaged in the production of environmentally friendly energy and "green" hydrogen. The headquarters is located in Perth (Australia).
Iberdrola is a Spanish energy company for the production and supply of electricity and natural gas. The headquarters is located in Bilbao (Spain).
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