Iberdrola has announced the completion of its rebranding of Infigen Energy, which will now be known locally as Iberdrola Australia, as the Spanish energy giant readies to grow its presence in Australia.
The previously ASX-listed Infigen Energy was acquired by Iberdrola in a takeover deal worth almost $900 million, continuing a spree of buyouts that has taken many listed renewable energy companies off the main board of the stock exchange.
Iberdrola’s new Australian projects include the development of a $500 million wind and solar hybrid project near Port Augusta in South Australia, the largest such project in the country.
Infigen Energy was formed in 2009, becoming one of Australia’s first pure-play renewable energy companies listed on the ASX.
While the company became an early leader in the emerging wind industry in Australia, the company at times struggled to maintain its pace of growth, particularly during a lean period for renewable energy projects following the election of the Abbott government in 2013.
Infigen itself was originally spun out of the former investment firm Babcock & Brown, just prior to its collapse in 2009.
Iberdrola Australia will be headed by Ross Rolfe, who had previously served as the managing director of Infigen. He said that the company would continue to focus its investments in Australia’s clean energy transition.
“All across the country we are seeing Australian households, businesses and industries voluntarily transition to clean energy,” he said.
“These choices demonstrate that Australian consumers are increasingly committed to energy solutions that preserve our natural environment and reduce our reliance on fossil fuels.
“At Iberdrola Australia, our strategy is to help Australian businesses and industries achieve these environmental sustainability objectives.”
Iberdrola is one of the world’s largest electricity companies, with a massive development pipeline of almost 75GW, and a commitment to invest as much as €150 billion (A$235 billion) by the end of the decade.
Global Director of Renewables at Iberdrola, Xabier Viteri, said Australia would be a key target market for the company’s significant expansion into the clean energy sector.
“In 2020 Iberdrola made a long-term commitment to Australia. There are significant opportunities to expand the role of clean renewable energy and to help navigate the path to Net Zero,” Viteri said.
“Our experience around the world shows that technologies like coal can be replaced by wind, solar and storage, at a lower cost and at the same time creating high quality long-term jobs.
“We want to be at the centre of Australia’s energy transition and help customers to benefit from electricity supplies that are reliable, affordable and clean.”
