Iberdrola continues to rotate assets and sells its gas plants for slurry treatment

Iberdrola has reached an agreement to sell its portfolio of gas assets for slurry treatment in Spain, totalling 52 megawatts (MW), to the energy services company Edison Next.

The transaction includes five plants in operation – developed more than 20 years ago and operated during this period in excellent maintenance conditions – and four biomethane projects in the development phase located in adjacent areas.

The operation is part of Iberdrola's asset rotation and alliance plan, which seeks to focus its activity on businesses with great potential, such as electricity networks, and to access more growth opportunities through the incorporation of top-level partners, especially in renewable generation.

In this regard, the Group has carried out various operations in recent months, such as the acquisition of its partner PREVI's stake in its Brazilian subsidiary Neoenergía and the subsequent announcement of a takeover bid to reach 100% of the capital; the alliance with Masdar to co-invest €5.2 billion in Iberdrola's largest offshore wind farm, East Anglia Three, located in the United Kingdom and with a capacity of 1,400 MW; and recent divestment agreements in Mexico, Hungary and France.