Iberdrola, one of the world's largest clean energy developers and asset owners, has committed more than $3 billion to develop clean energy projects in Australia.
Iberdrola CEO Ignacio Galán said the investment will deliver new renewable energy capacity, battery storage, and green hydrogen projects, as well as transmission networks.
The announcement came as Australian lawmakers were finalizing new climate change targets.
"The country’s huge renewable potential and its tradition of clear and stable policy frameworks creates the opportunity for Australia to establish itself as a leading global powerhouse in the energy transition," Galán said.
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Iberdrola has a pipeline of 2 GW of onshore wind and solar projects, as well as 60 green hydrogen projects in development in eight countries.
Iberdrola is currently developing are the 1,000 MW Mount James wind farm and the 360 MW Broadsound solar plant, both in Queensland. The company currently has 1,062 MW of renewable energy installed (wind, solar and batteries) in Australia – and a further 390 MW under construction.
