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Iberdrola (OTCPK:IBDRY) (OTCPK:IBDSF) is seeking an investor to buy a stake in a portfolio of U.S. renewable vitality property for $1.6B-$1.8B, Bloomberg reported Thursday.
The Spanish agency reportedly is working with Monetary establishment of America to advertise a 50% stake in a portfolio with 400 MW in photograph voltaic crops and 300 MW in onshore wind, and all have signed vitality purchase agreements with large experience firms.
The stake sale is part of broader overview of Iberdrola’s (OTCPK:IBDRY) (OTCPK:IBDSF) method throughout the U.S. after its newest settlement for a full takeover of its Avangrid (AGR) unit for $2.55B.
Iberdrola (OTCPK:IBDRY) (OTCPK:IBDSF) had been searching for to advertise half of Avangrid’s (AGR) renewable platform, a mission acknowledged internally as Maverick, nonetheless the plan has been scrapped, in accordance with the report.