DAVOS 2019: REFLECTIONS AND HOPES

Ignacio Galán: "Businesses are willing to help governments deliver a better future quicker"

Iberdrola is a longstanding member of the World Economic Forum, and Ignacio Galán, Iberdrola's chairman, is a key voice in promoting the energy and climate change agenda every year at the Annual Meeting in Davos.

Christine Lagarde, managing director of the International Monetary Fund (IMF), left, speaks with Ignacio Galán, chairman of Iberdrola, on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 22, 2019.Christine Lagarde, managing director of the International Monetary Fund (IMF), left, speaks with Ignacio Galán, chairman of Iberdrola, on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 22, 2019.

Galán is also a member of the Forum's Alliance of Climate CEOs, an innovative group featuring the heads of 50 major global businesses representing more than $1.5 trillion in total revenue. The Alliance was established in 2015 to urge the world's leaders to reach an ambitious climate deal ahead of the COP21 summit in Paris. A meeting of the group is scheduled in Davos this year, and Galán will lead discussions on how the group can collectively support enhanced climate ambition across businesses and governments.

Speaking ahead of visiting the Annual Meeting this week, Galán said, "Globally we need governments to continue to pursue policies promoting the massive investments required for a decarbonized economy. Businesses are willing to help governments deliver a better future quicker. The promotion of education in relation to climate change is also a key challenge for leaders in Davos."

Ignacio Galán, chairman of Iberdrola group

Climate action has been part of Iberdrola's strategy and business decisions for the last 20 years. Since 2001, we have invested 100 billion dollars in renewable energy, smart grids and efficient pumped hydro storage to bring down our emissions

WHAT IS THE IBERDROLA CLIMATE CHANGE STORY?

Green energy has been at our core for over 100 years, with hydro power central to our business from the outset. Then around two decades ago, after the Kyoto Protocol, Iberdrola could clearly see that climate change was a real challenge for humanity. A challenge that required urgent action. As the electricity sector is critical to providing solutions to combat this global problem, Iberdrola has been hard at work driving the energy transition towards a sustainable future. We have invested substantially in wind power, so much in fact, that we are now the world's leading wind power company. Investment of €95 billion means that two-thirds of all the megawatts we manage are now emission-free, and our emissions are 38% lower than the European energy sector average.

A WORLD LEADER IN WIND POWER — KEY PIECES OF THE PUZZLE

Our oldest wind farm: Carland Cross, Cornwall, UK

Well, it is old and it is new. It was originally built by ScottishPower in 1992, one of the earliest commercial wind farms operating in the UK. Initially it had a capacity of 6 megawatts (MW) from 15 turbines. However, in 2013 it also became the first of Iberdrola's wind farms to be 'repowered'. The original turbines were removed, and 10 new turbines were installed. With a modern refit completed, the capacity increased up to 20 MW. This first-born 6MW family member has since been joined by hundreds of younger siblings all over the world, and we now have over 15,600 MW of onshore wind.

Our boldest wind farm: Wikinger, Baltic Sea, Germany

Constructing a major 350 MW wind farm is a huge task in any circumstances. But the challenges increase tenfold when that wind farm is located 45 km off the German coast in the Baltic Sea, with water depths in excess of 40 meters. The Wikinger wind farm is Iberdrola's largest offshore wind project, consisting of 70 super-sized 5 MW turbines. It was officially inaugurated in 2018, and many more offshore wind farms are following hotly on its heels. East Anglia ONE in the UK will be next, a huge 714 MW project. With further projects being developed in the UK, US, Germany and France, it will not be long until our offshore family is challenging the onshore clan for size.