Spain’s Iberdrola targets Asia-Pacific growth with foray into Australia

Bloomberg

Spain’s Iberdrola SA has selected a site for its first project in the Asia-Pacific region, as Europe’s biggest renewable generator looks to expand beyond its core markets.
The Bilbao-based company seeks to start a 320-megawatt hybrid wind and solar plant in South Australia in 2021, kicking off planned investments of about $340 million in the country’s renewables sector, it said.
There is “tremendous potential” for growth in renewable power in Australia, said Xabier Viteri, director of renewable energy at Iberdrola. “Like a lot of countries, we see increasing demand from the public and businesses for their energy to come from clean sources. When you have that demand, coupled with abundant natural resources for high-performance wind and solar, it creates a highly attractive market to invest in.”
Renewables developers around the world are increasingly considering co-located wind and solar power, often backed by battery storage, as a way to firm up intermittent renewable power.