Iberdrola Acquires World's Largest Onshore Wind Farm with 1,000 MW in Australia

Source Press Release
Company Iberdrola S.A. 
Tags Asset Deals, Deals, Renewable Energy, Power
Date April 21, 2022

  • Thanks to this acquisition, the company now has a portfolio of more than 3,000 MW in the region
  • The park, with more than 50,000 hectares, has already completed its environmental studies

Iberdrola takes another step forward in its commitment to renewables. The company has acquired the rights to its largest wind farm in the world, with 1,000 MW. The Mount James wind farm is located in North Queensland, Australia, some 80 kilometres north of Hughenden. The agreement marks an important step in Iberdrola's commitment to Queensland.

North Queensland has abundant wind and solar resources, large tracts of sparsely populated land and a skilled workforce specialised in the construction and operation of large-scale energy infrastructure projects. For Iberdrola, this region will play an important role in meeting the country's economic decarbonisation target of 50% renewable energy by 2030 and also has the potential to become a major green hydrogen hub and green materials export corridor.

As the nearly 25 GW of coal-fired thermal generation is decommissioned and exits the National Electricity Market, significant investment will be required to replace all of this generation capacity. In this context, the Mount James wind project thus becomes one of the key clean energy assets in Iberdrola's growth strategy in the region.

Environmental studies have been completed on the 50,000 hectares of the Mount James wind project site, which will allow the wind farm to be designed to avoid environmentally and heritage sensitive areas. In addition, all permits for the construction of the project are being processed. 

Iberdrola's competitive position in the Australian market is distinguished by a willingness to invest not only in renewable capacity, but also in the technologies that enable clean energy growth, customer-focused product offerings, and broader energy infrastructure. To date, this has been achieved by offering commercial and industrial customers fully firm supply agreements backed by renewable energy generation.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd