Banco Sabadell | According to press reports, the Spanish energy company is leading the bid for the VNI West project in Australia, an electricity transmission line with an estimated value of €2.24 billion. Iberdrola is competing in a consortium with Australian companies Capella Capital and AusNet. The project faces public opposition due to the overhead route, which has delayed its launch until at least 2030. Assessment: Positive news if confirmed,…

Bankinter | The Australian group Fortescue, listed on the Sydney Stock Exchange and with a market capitalisation of more than €30 billion, is negotiating with Iberdrola (IBE) the acquisition of 49% of a 1,000 MW solar and wind portfolio from Iberdrola. This portfolio is valued at least €900 million (including debt). Bankinter analysis team’s view: Good news and a transaction consistent with the group’s strategy. Iberdrola has been developing this…

Alphavalue/DIVACONS | The Spanish utility is exiting the Mexican market to finance its €55 billion investment plan through 2031, with a strategic focus on regulated network businesses in the United States and the United Kingdom. On Thursday after the close of trading, the group reached an agreement with Cox ABG for the sale of its 2.6 GW generation and supply portfolio in Mexico for $4.2 billion. The divestment of most…

Link Securities | Iberdrola (IBE) has announced an alliance with Irish group Echelon to launch a bid to conquer the data centre market in Spain, according to a report in Monday’s edition of Expansión newspaper. Echelon is owned by the Starwood Capital fund, known in Spain for its major forays into the real estate sector, where it has recently been involved in multimillion-pound deals. The newspaper notes that Iberdrola had…