Iberdrola closes the sale of three mini-hydro assets to Kelag, Austria's leading renewable energy operator

Iberdrola has closed the sale of three mini-hydro plants, with a total installed capacity of 35 MW, to the Austrian energy company Kelag. The agreement allows for the expansion and inclusion of new assets. 

Kelag is a recognised player in the hydro sector thanks to its extensive experience, managing almost 100 hydroelectric plants of its own, as well as important acquisition and subscription rights for hydroelectric power with a total installed capacity of 1,500 MW in Austria. This is Kelag's second transaction in Spain after acquiring four hydropower plants in 2022. 

This transaction is part of the non-strategic asset rotation programme announced by Iberdrola for the period 2023-2025 in its Strategic Plan, which has already been 100% completed to support the record EUR 47 billion investment plan. 

This divestment joins other recent divestments in Mexico, and the agreements signed and announced with MAPFRE, Norges Bank Investment Management, Masdar, bp and Energy Infrastructure Partners. 

Kelag's strategy is to continue to grow in renewable energy projects both domestically and throughout Europe in the coming years.