European Power Giant Looks to Sell $1.8-Billion U.S. Solar and Wind Projects

, hoping to raise up to $1.8 billion from the sale, sources with knowledge of the plans told Bloomberg on Thursday. Iberdrola , one of the biggest utilities and renewable energy developers in Europe and the Americas, is looking to sell 50% in a portfolio of 400 megawatts MW of solar plants and 300 MW of onshore wind farms, all of which have purchase power agreements PPAs with big technology firms, according to Bloomberg’s sources.

In March, Iberdrola’s executive chairman Ignacio Galán told the Financial Times in an interview that the company would focus the largest part of its multi-billion investments for 2024-2026 on the United States as its capex plans don’t hinge on the Inflation Reduction Act and a possible repeal of the IRA by a second Trump presidency. Iberdrola said in March it would invest $44 billion 41 billion euros and hire 10,000 people by 2026 to accelerate electrification in its key markets.

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