ScottishPower, an Iberdrola UK affiliate, has inked two agreements to buy 17 solar projects in the country with a combined capacity of more than 800MW.
Elgin Energy, which owns 12 of the projects, and Lightsource BP, which controls the rest, signed separate contracts.
The projects, which span England, Scotland, and Wales, are nearing completion and will be operational by 2025, with a total investment of almost £500 million (€600 million).
According to Iberdrola, the deal boosts the company’s solar market share in the UK from 2% to 9%.
The Elgin Energy projects are in the planning stages, and they include a co-located 70MW battery system that is nearing completion.
The projects are expected to be operational between 2023 and 2025.
Since the beginning of 2020, the firm has completed 30 corporate transactions, including 17 acquisitions that have allowed it to enter new markets such as Sweden, Ireland, Poland, Japan, and Australia.