Banc Sabadell | The Australian fund HMC has withdrawn from the auction for 600 MW of Neoen assets put up for sale in Australia and Iberdrola (IBE) may have been left alone in the tender, although it is not clear that it has obtained exclusivity, according to press reports.
The portfolio would consist of three operating assets: a 128 MW solar farm, a 194 MW wind farm and a 20 MW battery storage system and a 300 MW battery. In addition to the operating assets, the auction would include six other assets in various stages of development, including a 400 MW hybrid wind and battery farm.
Assessment: News of limited impact pending the final decision on whether Iberdrola finally gets the assets, which in any case would be small in terms of capacity. We recall that Australia is a core country within Iberdrola’s growth strategy, where it currently has 1,187 MW in operation (c. 2.5% of Iberdrola’s renewable capacity).