Iberdrola acquires PV solar system of 42 MW in Montalto di Castro

Transaction overview

Iberdrola, a Spanish utility company headquartered in Bilbao, acquired CCE's 42 MW solar photovoltaic (PV) plant located in Montalto di Castro, Italy on April 14, 2026. The deal adds to Iberdrola's expanding portfolio of renewable energy assets in the country and aligns with its strategic plan for significant investment in stable markets with robust regulatory frameworks.

Deal structure and financing

The financial details of the acquisition were not disclosed. CMC Capital acted as the sell-side advisor while Unicredit served as the buy-side advisor on this transaction. No specific equity or debt funding information was provided, nor were any lock-up agreements or IPO considerations mentioned in connection with the sale. The PV plant had recently commenced operations and is supported by long-term power purchase agreements (PPAs) ensuring stable cash flows.

Strategic context

Iberdrola's acquisition of CCE’s solar asset in Montalto di Castro underscores its ongoing commitment to expand renewable energy capacity in Italy, a key market for the company. The deal solidifies Iberdrola's position as one of the major players in the Italian renewable energy sector and contributes towards meeting its strategic goal of achieving 58 billion euros in total investments between 2025-2028, with nearly 36% dedicated to long-term contracted generation projects in creditworthy countries. This move follows several other acquisitions by Iberdrola such as the 242 MW wind park Ararat in Australia and the addition of 650 MW of solar power through a joint venture with Norges.

Regulatory path

The Italian antitrust authority, known as Autorità Garante della Concorrenza e del Mercato (AGCM), reviewed this acquisition. No specific remedies or divestiture requirements were mandated by regulators due to the relatively small scale and localized nature of the transaction within Italy's renewable energy market. The HSR filing for this deal was made in March 2026, with the EU having no jurisdiction over a national Italian transaction of this size.