MADRID, 31 Mar. (EUROPA PRESS) -

Ibermap Renewable Energy, the 'joint venture' created in 2021 by Mapfre and Iberdrola to co-invest in clean energy, has reached a portfolio of 445 megawatts (MW) through the addition of 150 new photovoltaic MW, which has led to a modification of its shareholding structure, both companies have reported in separate statements.

In this way, the firm's portfolio consists of 295 MW of wind power and 150 MW of photovoltaic power. The 'joint venture' contemplates the incorporation of more assets in the future, as explained by the companies.

The 150 new MW correspond to operational photovoltaic parks --Almaraz, Olmedilla and Romeral, with 50 MW each--, located in Castilla-La Mancha and Extremadura. These plants are added to the 295 MW of wind power already incorporated in 2021 distributed between Burgos, Almería, Málaga, Seville, Soria and Tarragona.

As a result of the incorporation of the new photovoltaic assets, the shareholding structure of the 'joint venture' has been modified. Iberdrola has become the majority shareholder, with 51%, while Mapfre keeps the remaining 49%. Two years ago, when the investment vehicle was announced, Iberdrola was the minority, with a 20% stake, the rest corresponding to the insurer.

"This new shareholding configuration provides a series of advantages, among which, for example, Ibermap will have a larger and more diversified portfolio, including photovoltaic solar plant assets, which provides greater stability and security in the flows of box", have stressed both companies.

As detailed two years ago, the objective of this investment vehicle is to reach a portfolio of 1,000 MW, so they have practically reached half of this goal.