Iberdrola and Norway’s wealth fund expand their alliance with the addition of 708MW of renewable capacity from two photovoltaic projects in Spain. The joint venture now has a 2.5 gigawatt renewable energy portfolio worth over €2bn. This collaboration aims to accelerate electrification in Iberia and beyond, benefiting over 885,000 people annually in Extremadura. Norges Bank Investment Management, with €1.7tn in assets, has been a significant shareholder in Iberdrola for over seven years, holding an almost 3% stake. Strengthening their partnership, Norges collaborates with Iberdrola on direct investments in renewable energy assets, including projects in Spain like the Ceclavin and Tagus XL installations.

Read more at Yahoo Finance: Iberdrola expands renewable alliance with Norway’s wealth fund