Spanish major Iberdrola has selected a site in Australia for its first renewable energy project in the Asia-Pacific region.
The company is seeking to expand its business beyond its core markets and has announced plans for a 320 MW wind-solar hybrid power project in South Australia.
The A$500 million project is scheduled to start operating in 2021, and will be the first project in a planned 650 MW pipeline of projects. Iberdrola has so far focused on markets in Europe, the USA, Mexico and Brazil.
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.”