By Giulia Petroni

Iberdrola SA said Friday that it has agreed to acquire 17 photovoltaic projects with a combined capacity of 800 megawatts through its U.K. subsidiary Scottish Power.

The Spanish utility company said it has signed two separate deals with developers Elgin Energy and Lightsource BP. The projects, which are in advanced stages of development, will be operational by 2025 and require an investment of approximately 600 million euros ($687.3 million).

The solar portfolio will add enough clean energy to power over 220,000 households, Iberdrola said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

January 14, 2022 06:30 ET (11:30 GMT)

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