Iberdrola SA has completed an agreement to buy Victoria state’s 242-megawatt (MW) Ararat Wind Farm from OPTrust and Partners Group.
Ararat, operational since 2017, becomes the Spanish power and gas utility’s biggest wind farm in Australia and its first owned generation asset in Victoria, it said in an online statement.
“With this operation, the Group now has a presence in five states across the country: New South Wales, South Australia, Victoria, Queensland and Western Australia”, Iberdrola said.
The company plans to invest over EUR 1 billion ($1.17 billion) in Australia by 2028, part of an enlarged investment package it announced September 24, 2025.
“This acquisition reinforces Iberdrola’s ability to supply its business customers portfolio with own generation while also selling a significant portion of its output through power purchase agreements, providing predictable cash flows in a state targeting 95 percent renewable energy by 2035”, the statement said.
“Iberdrola has become one of the energy leaders in the Australian market with more than 2,500 MW of installed capacity, mainly distributed among onshore wind farms, solar plants and batteries.
“The company has also recently entered the country’s grid business with VNI West (Victoria to New South Wales Interconnector West), a key infrastructure project that will connect the states of Victoria and New South Wales”.
Earlier this year Iberdrola started up the 65-MW Smithfield battery energy storage project in Sydney, able to supply 20,000 homes.
Announcing the milestone February 5, Iberdrola said it has also secured a contract from the New South Wales government for another battery energy storage project with a 100 MW capacity. The Kingswood project “will be able to supply energy for at least eight consecutive hours and supply some 65,000 homes at peak demand times”, Iberdrola said.
Last year Iberdrola bought the 270-MW Tungkillo battery energy storage project in South Australia from RES Australia.
The project “has all the key approvals and very advanced connection rights, in addition to the land already secured”, Iberdrola said October 15, 2025. It expects to invest EUR 275 million in the project, which it aims to start up by 2028.
“The Australian system requires a significant increase in battery storage capacity to integrate the new renewable capacity and bring flexibility to the system”, Iberdrola said. “The location of the Tungkillo project, in the south of the country, is optimal for providing this service.
“In the case of Iberdrola Australia, the storage systems provide backup capacity for its portfolio of energy sales contracts to customers”.
To contact the author, email jov.onsat@rigzone.com
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