Iberdrola group has opened new platforms for growth in order to position itself in markets with a big renewable future and has strengthened its presence in the main countries in which it operates, adding medium and long-term projects to its pipeline. It has done this through 14 corporate operations, undertaken since the beginning of the COVID-19 pandemic, in line with its strategy to consolidate itself as the world's biggest renewables company, and for which it is to invest €150bn by 2030.
Iberdrola's investment plan for the period 2020-2025, now extended to 2030, reaffirms its commitment to renewable energies. Of the projected €75 billion for 2025, 90 % will be organic investments (€68 billion) and, of these, 51 % (some €34.68 billion) will be earmarked for renewables, which will amount to 60 gigawatts (GW) of installed capacity by 2025, doubling the current capacity. With the extension to €150 billion euros by 2030, the company plans to reach an installed renewable capacity of 95 GW, and is uniquely positioned with one of the largest renewable pipelines in the industry at over 74 GW.
Our internal teams have made progress in the digitalisation process and achieved operational and economic improvements during the first year of the Darwin Project. The initiative was launched in 2019 and has allowed them to research new technological solutions, reassess their procedures, and generally evolve to be able to provide more efficient support and better quality for all group businesses.
Iberdrola has adapted its regulatory system to the three major pillars used by the worldwide investment community to measure the impact and sustainability of investments: environmental, social and governance aspects, known as ESG for short. By doing so, the company confirms its desire to be at the cutting edge of international best practice, in a context where COVID-19 has highlighted the need to shift towards more sustainable, resilient, inclusive and competitive models as the path to post-pandemic recovery.
The steady electrification of energy uses driven by the decarbonisation of the economy will enable Iberdrola to add to its customer base. The group, which plans to invest more than 6 billion euros in its Wholesale and Retail business between 2020 and 2025, will by the end of this period have contracts with 60 million customers, and has also developed a scenario to 2030, in which it estimates that its customer base will reach 70 million. The company will offer smart and innovative solutions in the residential (heat pumps, energy storage, electric mobility and self-consumption) and industrial (smart solutions, process electrification and green hydrogen) sectors: solutions that will put customers at the heart and make them responsible for energy use.