Iberdrola Australia has moved decisively to scale both storage and contracted wind capacity, reinforcing its long-term position in the country’s evolving power market.

Under Ross Rolfe’s leadership, Iberdrola acquired the 270 MW / 1,080 MWh Tungkillo Battery Storage Project in South Australia from RES Australia for €275 million. The four-hour BESS, expected online in 2028, is designed to strengthen grid reliability and enable higher renewable penetration in a market increasingly exposed to volatility and intermittency.

In parallel, the company agreed to acquire 100% of the 242 MW Ararat Wind Farm in Victoria from Partners Group and OPTrust. The operational asset is largely contracted under long-term PPAs, providing stable cash flows and immediate earnings contribution.

Together, these transactions reflect a clear capital allocation strategy. Iberdrola is pairing future-facing storage infrastructure with cash-generating wind assets. The structure balances development risk with contracted revenue, while positioning the platform to benefit from tightening supply-demand dynamics across Australia’s National Electricity Market.

Both deals sit within Iberdrola’s broader €1 billion investment plan in Australia, signaling sustained conviction in the market’s energy transition. The focus is not just growth in megawatts, but disciplined expansion into assets that enhance flexibility, resilience, and long-term portfolio stability.

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