Energy company Galp has announced the acquisition of a portfolio of 15 operational wind farms in Spain from Acciona Energía for €420 million. With an installed capacity of 361 MW, annual output is estimated at 800 GWh. This acquisition follows the €320 million deal completed by the Portuguese company in April, which enabled it to acquire a portfolio of 17 wind farms with a capacity of 351 MW.

The new deal, combined with the one completed in April, strengthens Galp’s position in the Iberian renewable energy market and helps diversify its renewable energy portfolio. The 15 wind farms now being added are spread across several Spanish regions with large wind resources and a proven operational track record. With commercial operations having begun, on average, in 2005, all the wind farms are fully operational.

Proven operational track record
Galp’s Executive Vice-President for Renewables, Georgios Papadimitriou, explained, “This acquisition strengthens the quality and diversification of our renewable energy portfolio across the Iberian Peninsula by adding assets with a proven operational track record and complementary generation profiles. It marks another step forward in our strategy to grow our power business in a disciplined manner.”

The acquisition also enables Galp to rebalance its power portfolio, increasing its total installed renewable capacity to 2.7 GW, with annual energy generation of approximately five terawatt-hours, around 30% of which is accounted for by wind power. Following the April transaction, that figure had stood at 25%.

^{Photo: Galp}