VERBUND Acquisition of an operational renewables portfolio (82 MWp) and of a development platform (around 2,100 MW at an advanced stage) in Spain – EQ Mag Pro

VERBUND AG hereby announces the acquisition of a regulated and operational PV portfolio in Spain, with a total installed capacity of 82 MWp. Furthermore, the acquisition also includes an extensive development platform (wind and PV), together with its development team.

Approximately 2,100 MW of this platform is at an advanced stage of project development, while around 2,400 MW are greenfield projects. The development team enables the ongoing development of the VERBUND-activities in Spain. 100% of the stakes in this portfolio will be acquired.

The projects are located across Spain. On the basis of projected capacity, the geographic focus of the projects lies in the Castilla–La Mancha region in Central Spain and in Andalusia, Southern Spain. Vendors are various funds of the Q-Energy Group. Manager of the vendor funds is Q-Energy Private Equity, a leading fund manager for investment in the renewable energy sector.

VERBUND’s 2030 strategy plans for significant growth in the area of solar and wind power with the objective of producing around 20–25% of total electricity generated from photovoltaic systems and onshore wind farms by 2030. Following successful entry into the Spanish market in late November 2021 with the lllora project, and the acquisition of a 70% stake in one solar and four wind power project companies in Spain from Capital Energy Power Vortice S.L.U. in March 2022, this transaction is another important step towards achieving this objective and enables VERBUND to take a leading position in the Spanish energy market.