Iberdrola has finalized the previously announced acquisition of French renewable energy company Aalto Power from Aiolos and Caisse des Dépôts et Consignations for €100 million ($112 million).
Aalto Power has 118 megawatts of operational onshore wind generation and 636 megawatts of onshore wind projects in different stages of development in France. Iberdrola said the acquisition will not only provide Iberdrola with its first operational megawatts on French soil, but will also boost its plans in the area of renewable generation.
Iberdrola announced in June that it is planning to invest up to €4 billion ($4.5 billion) in France over the next four years in an effort to expand its presence and renewable energy portfolio in the country, according to Reuters.
Earlier this y
