# Iberdrola hires Barclays to sell stake in Spanish renewable portfolio, Expansion says
Published: 2022-09-26
Category: Headlines
Category URL: https://brandsjournal.com/category/headlines/
Meta Title: Spanish Power Company Iberdrola Hires Barclays to Sell...
Meta Description: Iberdrola is selling up to 49% of its Spanish renewable power projects worth 500 million euros to finance a 150 billion euro investment plan.
URL: https://brandsjournal.com/iberdrola-hires-barclays-to-sell-stake-in-spanish-renewable-portfolio-expansion-says/

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MADRID (Reuters) – Spanish [power](https://brandsjournal.com/botswana-awards-norways-scatec-first-large-scale-solar-plant-contract/) company Iberdrola hired Barclays’ investment bank to sell up to 49% in a portfolio of Spanish renewable power projects, Expansion [newspaper](https://brandsjournal.com/german-investor-kuehne-does-not-plan-to-further-boost-lufthansa-stake-faz/) reported on Monday, citing unidentified market sources.

Iberdrola is considering selling a stake in a series of wind and solar power projects, most of them still in development, with a total capacity of 1.2 gigawatts, the newspaper said.

The assets are worth about 500 million euros ($482.50 million), the [newspaper](https://brandsjournal.com/german-investor-kuehne-does-not-plan-to-further-boost-lufthansa-stake-faz/) said, according to its market sources.

Iberdrola is selling stakes in some of its most advanced renewable [projects](https://brandsjournal.com/ikea-stores-owner-buys-49-stake-in-swedish-wind-power-projects/) to raise cash to partly finance its 150 billion euro 2020-2030 investment plan. It has recently agreed to sell a minority stake in a giant off-shore wind project in Germany for 700 million euros.

Representatives of Iberdrola and Barclays did not immediately return calls seeking comment.

($1 = 1.0363 euros)

(Reporting by Inti Landauro, Editing by Louise Heavens)


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