The deal brings Iberdrola Renewables' wind project portfolio in Hungary to 254 MW, of which 158 MW have obtained licenses to produce electricity, although final building permits have yet to be granted. Hungary, with just 62 MW of wind power in operation to date, is included in Iberdrola Renewables' growth plans in eastern Europe, which make up a sizeable proportion of its expansion strategy. Further east, Iberdrola is keeping its plans quiet for the huge Russian market. But the local government of Krasnodar, a North Caucasian region bordering the Black Sea, recently revealed it is processing a EUR 1000 million wind investment plan by a joint venture between Iberdrola and a local firm, Vetroen Yug. The aim is to install around 1000 MW of wind power.
Spain's Iberdrola Renewables has acquired four wind projects in Hungary totalling 108 MW from local firm Callis, described as one of the country's biggest wind developers. The projects, in the provinces of Komárom-Esztergom and Vas, are at "a very advanced stage of development," says Iberdrola, with building scheduled to begin across 2008 and 2009 and requiring an investment of around EUR 155 million.