Iberdrola and Norges expand renewable alliance with Portuguese wind farm

Iberdrola and Norges Bank Investment Management have added the Tâmega wind farm in Portugal to their joint investment vehicle. The new asset has a capacity of 274 megawatts and is already in commercial operation.

This addition expands a partnership that has mobilized over 2 billion euros in investment, with a combined renewable portfolio now exceeding 1,800 megawatts. The alliance also includes solar plants in Caparacena, Granada, and Ciudad Rodrigo, Castilla y León, which provide 646 megawatts of capacity.

Under the terms of their agreement, Iberdrola maintains a 51 percent majority stake and manages the assets, while Norges holds a 49 percent minority stake. Norges has been a significant shareholder in Iberdrola for over seven years, holding approximately 2.3 percent of the company's capital.