Spanish utility Iberdrola 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.
In May, Iberdrola paid €100 million ($108 million) for the acquisition of French renewable energy company Aalto Power, a company owned by Aiolos and Caisse des Dépôts et Consignations. Aalto has 118 megawatts of operational onshore wind generation and 636 megawatts of onshore wind projects in different stages of development in France.
Earlier this year, Iberdrola purchased the remaining 30 percent interest in the €2.4 billion ($2.7 billion), 496-megawatt Saint-Brieuc offshore wind farm in France from Avel Vor, a consortium composed of RE
