Since October 2022, Iberdrola has hinted at reshaping its footprint in Central and Eastern Europe, particularly in Romania and Hungary. The divestment of Iberdrola Renovables Magyarorszag KFT, which owns its Hungarian wind business, aligns with this focus on regulated and long-term contracted assets in stronger markets. Under the agreement, Premier Energy will control 51% of the portfolio, with Budapest-based iG TECH CC holding the remaining 49%. For Iberdrola, the transaction not only generates €171.2 million ($202.77 million) in proceeds including dividends but also allows the company to consolidate resources where growth opportunities are most secure.

For Premier Energy, this acquisition strengthens its position as a regional powerhouse in renewables. Following its 2024 takeover of Iberdrola’s Romanian assets, the Hungarian wind portfolio boosts its renewable capacity across Romania, Moldova, and Hungary to over 500 MW, including projects under construction. What makes this particularly significant is the portfolio’s scale: it accounts for roughly 50% of Hungary’s operational wind power and around a quarter of the total installed capacity across Hungary, Slovakia, and the Czech Republic. With management control firmly in Premier’s hands, this deal cements its influence over a critical segment of Central Europe’s clean energy supply.

The portfolio consists of 158 MW of operational wind farms spread across 79 Gamesa turbines at two sites in northwestern Hungary. Key projects include the 50 MW Kisigmand and 38 MW Csoma I in Esztergom County (both operational since 2010), the 36 MW Scott project, and two additional sites totaling 34 MW in Vas County. Together, they produce about 300,000 MWh of electricity annually, contributing significantly to Hungary’s grid. While some of the power is already sold on the merchant market, the Amundsen and Csoma II projects currently under feed-in tariff regimes will shift to wholesale market pricing by 2026. Financing for the acquisition, led by Vista Bank and Optima Bank with €90 million in syndicated debt, underpins Premier Energy’s ability to execute the deal. With the transaction expected to close by early 2026, Hungary’s wind energy market is set for a new chapter under fresh ownership.

Iberdrola’s exit marks a turning point for the company’s global strategy while simultaneously positioning Premier Energy and iG TECH as key players in Hungary’s renewable sector.

Explore our latest insights, project updates, and more at Enerdatics. Don’t forget to subscribe to our newsletter for real-time updates.