Iberdrola Exits Hungary’s Renewable Energy Market

Exiting Hungary’s renewable energy market, Iberdrola on Thursday said that it has reached an agreement to sell 100% of the shares of Iberdrola Renovables Magyarország KFT, to a consortium formed by Romania-based Premier Energy, which previously acquired the company’s assets in Romania in 2024—and to the Hungarian group iG TECH CC.

While Premier Energy will own 51% stake after the acquisition, iG TECH CC will have the remaining 49% shares of the company.

For Premier Energy, this acquisition is its first significant electricity production acquisition beyond its traditional home markets of Romania and Moldova and will establish a scalable platform for future growth in Hungary, a market with strong fundamentals and a strategic position within Central Europe.

Through this transaction, the Iberdrola Group will receive a little over $201 million for the shares of the company and a dividend distributed prior to closing. The assets sold include 158 MW of operational wind capacity, commissioned by Iberdrola since entering the country in 2008.

These assets will shortly be selling their energy in the wholesale market, once the regulatory 15-year tariff period ends. Currently, 124 MW are already operating in the free market, and the remaining 34 MW will do so in less than a year. The transaction is subject to ordinary regulatory approvals.

This deal is part of Iberdrola’s strategy to focus its investments on key businesses and markets, mainly in networks in the US and the UK, and in regulated or long-term contracted generation, where income stability and predictability are maximised.

It is also fully in line with the concentration of activities of Iberdrola Energía Internacional to focus on core EU markets and in Australia.

During 2025, Iberdrola has announced several long-term strategic alliances and asset rotation transactions. These include the recent agreement for the sale of its businesses in Mexico, and its partnership with Masdar to co-invest $6.12 billion in the 1.4 GW East Anglia THREE offshore wind farm in the UK.

Landmark Asset

Premier Energy Group CEO Jose Garza said that this acquisition adds a landmark asset to their renewable production platform and is another important step towards building a truly regional integrated energy champion.

According to him, Hungary is a market with strong fundamentals, located at the heart of Europe, and this portfolio gives us both scale and credibility as Premier Energy expands its footprint. The acquired wind parks represent approximately half of the country’s total operating wind capacity and around a quarter of the capacity across Hungary, Slovakia and Czechia combined.

Garza said that this transaction represents a perfect market entry to pursue further investment opportunities in the region. The investment will take our renewable electricity production platform across Romania, Hungary and Moldova to over 500 MW of owned production capacity, including capacities which are currently in the construction phase.

“With this scale, we are well positioned to continue growing through disciplined investments that create efficiencies and long-term value for our shareholders and drive the region’s energy transition,” he added.