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Iberdrola buys four Hungarian wind farms projects

Spanish Iberdrola Renewables has acquired four wind farms developed by Callis, Hungary’s principal developer of wind energy projects, with an aggregate output capacity of 108 MW, and an investment cost of some €155 million. ($223 million)

The wind farms, located in Hungary’s Komárom-Esztergom and Vas provinces, are already at an advanced staged of development, and should be ready for commissioning within two years. The new acquisitions mean Iberdrola Renewables now has projects for 254 MW of wind energy in Hungary, where earlier projects totaling 158 MW have already been granted licenses to operate. The renewables unit of Spain’s Iberdrolas utility finds Hungary an attractive market, since its operational wind farms now total only 62 MW. The transaction comes in the context of Iberdrola ambitious international expansion strategy. Eastern Europe is regarded as especially appealing owing to its large wind power potential.

In Poland, Iberdrola Renewables operates wind farms with a capacity of 89 MW, and has projects to add another 800 MW. In Estonia, the company is developing the country’s largest wind farm, with an output capacity of 150 MW. At the close of Q3 2007 Iberdrola operational renewable energy capacity worldwide reached 7,342 MW, representing an 80% year-on-year increase, consolidating its position as the world’s largest renewables developer and operator. (iberdrola press release)