Iberdrola Renewables Australia
Australia, a key market for the Group's global growth
As part of its strategy against climate change, the Iberdrola group operates renewable energy projects around the world, with an increasing focus on new markets such as Australia. The production of green energy in the Oceania country continues to increase and is expected to accelerate its growth over the next 10 years.
In this line, in 2020 we successfully completed a friendly takeover bid for 100% of the Australian renewable energy company Infigen Energy, now Iberdrola Australia External link, opens in new window.
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Thanks to this transaction, the group has become one of the leaders in the Australian market External link, opens in new window. External link, opens in new window., currently with 1,062 MW of installed renewable capacity. In Australia, we also have a project portfolio of more than 2 GW in various technologies, at different stages of development and located in the states of New South Wales, South Australia and Queensland.
Port Augusta project.
Among the most emblematic installations is Port Augusta External link, opens in new window. External link, opens in new window., our first hybrid wind-solar plant in the world. Located in the state of South Australia, the plant combines a 210 MW wind farm and a 107 MW photovoltaic plant.
Our portfolio of renewable energy assets is one of the largest in Australia. In addition to our own assets, we also contract in-country production from other renewable operators, enabling us to serve a wide range of customers. This is the case of the acquisition of the rights to the world's largest wind farm at Mount James, with 1,000 MW, the 360 MW Broadsound photovoltaic plant in Queensland.
Iberdrola has committed to a major investment of between €2 and €3 billion in Australia with the aim of boosting the switch to renewables in the country and reaching 4,000 MW in the coming years. Iberdrola has already invested €2 billion in the country.
To continue to lead the renewable energy transition External link, opens in new window. External link, opens in new window. and put customers in the driver's seat, we also acquired Autonomous Energy External link, opens in new window. External link, opens in new window., a leading Australian engineering and construction company offering a wide range of green energy solutions, at the end of 2021. With this acquisition, Australian customers will have access to integrated and optimised green energy solutions that will reduce their energy costs and emissions.