Spanish energy company Iberdrola has announced it will team up with Spain-based insurance group Mapfre to jointly invest in renewable energy in Spain.
The largest shareholder will be Mapfre, with a 80% stake, and Iberdrola is holding the remaining 20%. The joint company’s current renewable energy portfolio consists of 100 MW of operational wind power plants and 130 MW of PV plants which are under development.
Iberdrola and Mapfre began their collaboration in the energy field in January, when they reached an agreement to provide, with renewable electricity, nearly 3,000 offices of the insurance group in Spain.
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