ArcelorMittal is planning a move into Spain’s renewable energy sector with the aim of securing electricity that is both affordable and free of carbon emissions. The company has positioned itself to participate in a strategic alliance with Copenhagen Infrastructure Partners (CIP), seeking 40% of a portfolio that combines wind and photovoltaic assets. The potential deal centers on Iberdrola and the broader market for selling assets that enable continued investment in clean energy development. The proposed operation is projected to involve a transaction roughly around 600 million euros, reflecting the scale of Iberdrola’s broader assets, which are valued in the neighborhood of 1.2 billion euros in this context.
The proposal reportedly advanced by Cinco Días this Thursday indicates that ArcelorMittal would become a partner in a major renewable energy venture, a move that has not elicited formal comment from the multinational to date. The plan would involve acquiring a 40% stake in Iberdrola’s asset base, an portfolio that encompasses approximately 150 megawatts of wind power and roughly 1,100 megawatts of photovoltaic capacity. Among the other bidders and options reported are Norges, the Norwegian sovereign wealth fund, with Iberdrola preparing to select the most favorable offer in the coming days or week.
If realized, the ArcelorMittal operation would mark a notable entry for the company into the Spanish energy market. The deal would complement other industry movements, including Iberdrola’s broader strategy to attract investment in its clean energy resources and to finance ongoing development. Separately, this potential transaction links to broader efforts by ArcelorMittal to participate in the HyDeal Spain consortium, a project focused on self-supply hydrogen for industrial and energy uses, signaling a strategic alignment with hydrogen as a key future clean energy vector.
Overall, market observers are watching closely as Iberdrola evaluates competing bids and the wider implications for Spain’s renewable energy landscape. If successful, the agreement could accelerate the deployment of wind and solar capacity while reinforcing the role of private capital in Europe’s transition to low-carbon power. The intersection of steel industry players with renewable energy developers illustrates the evolving industrial landscape where energy supply security and price stability are increasingly tied to long-term investment in green technologies. Analysts suggest that any final decision will weigh the potential for synergies across asset management, project development timelines, and the regulatory environment that governs cross-border energy investments within the region.