IPP
, Australia

Australia approves Iberdrola's acquisition of Infigen Energy

The Spanish energy group raised its bid by 3.5%.

The Foreign Investment Review Board (FIRB) of Australia has approved the proposed acquisition of Infigen Energy, the country’s largest renewable producer, by the Spanish energy group Iberdrola.

The Australian company owns 670MW of wind power capacity and has 268 MW of highly valued firming assets and an additional 246 MW of contracted renewable capacity through offtake power purchase agreements (PPAs). It also has more than 1GW of projects under development.

Lately, Iberdrola raised its bid for Infigen Energy by 3.5%, offering $0.62 (A$0.89) per staple security of Infigen, instead of the $0.60 (A$0.86) bid presented earlier in June. This new price would raise the offer to $606m (A$870m).

Earlier, UAC Energy, a joint venture of Ayala’s AC Energy Philippines and UPC Renewables Group Hong Kong, had made an $0.56 (AUD 0.80) per share bid, valuing Infigen at $777m.

This article was originally published by Enerdata.

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!