European Power Giant Looks to Sell $1.8-Billion U.S. Solar and Wind Projects

Spanish utility giant Iberdrola is in search of a buyer of 50% of a portfolio of wind and solar projects under development in the United States, hoping to raise up to $1.8 billion from the sale, sources with knowledge of the plans told Bloomberg on Thursday. Iberdrola, one of the biggest utilities and renewable energy developers in Europe and the Americas, is looking to sell 50% in a portfolio of 400 megawatts (MW) of solar plants and 300 MW of onshore wind farms, all of which have purchase power agreements (PPAs) with big technology…