UTILITY OF THE FUTURE
Iberdrola, the utility of the future
Iberdrola group has made sweeping changes in the last 20 years, staying one step ahead of the energy transition to face the challenges of climate change and the need for a clean, reliable, smart business model. It is now the leader in renewables and smart networks, has a diverse portfolio of businesses and geographies, is present in highly rated countries and has demonstrated its financial fortitude and experience and its capacity for execution.
AN INTERNATIONAL ENERGY LEADER
With a history of over 170 years, today Iberdrola is a global energy leader, the number-one producer of wind power and one of the world's biggest electricity utilities by market capitalisation. The group supplies energy to almost 100 million people in dozens of countries, has more than 600,000 shareholders, a workforce comprising more than 35,000 employees and assets worth more than €122 billion.
We are leading the transition towards a sustainable energy model through investments in renewable energy, smart grids, large-scale energy storage and digital transformation, offering the most advanced products and services to our customers.
Ignacio Galán, Iberdrola group chairman
After 20 years of anticipating the energy transition, our business model positions us as a key agent in the transformation of the industrial fabric. With our experience, our engagement with society and our financial strength, we are advancing a model for long-term sustainable economic growth capable of meeting the current challenges of society
Due to our commitment to clean energy, we are today one of the companies with the lowest emissions and an international benchmark for our contribution to the fight against climate change and to sustainability. We have set ourselves a target to be carbon neutral in Europe by 2030 — our CO2 emissions are already two thirds lower than those of our European competitors — and to reduce our CO2 emissions globally by 86% by the end of the decade, to 50g/kWh — they would be 70g/kWh by the end of 2025 —, until we become carbon neutral globally by 2050.
Iberdrola group is present today in the following countries and geographical areas, in which we are the leading energy utility and a benchmark, thanks to our sustainable energy model:
An international energy leader
- Electricity and gas distributor in New York, Maine, Connecticut and Massachusetts,
through eight regulated companies
- 3rd largest wind energy producer
- 100 % renewable production
- Transmission and distribution networks in Scotland, Wales and England
- Presence in Portugal, France, Italy, Germany, Greece, Hungary, Romania, Cyprus, Australia, etc.
** Neoenergia, S.A. is 50 % + 1 share owned by Iberdrola Energía, S.A.
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Iberdrola is today an international energy leader with presence in the following countries and geographical areas:
- We are the first energy company and the first producer of wind energy in Spain. The company operates through Iberdrola España, a subholding company, and its parent companies of the Renewables, Electricity distribution and Generation businesses.
- In the United Kingdom, the company is present through ScottishPower, a subholding company, and its parent companies of the Renewables, Networks and Generation businesses. Here, our production is 100% renewable and we have transmission and distribution networks in Scotland, Wales and England.
- In the USA, the company is present through Avangrid, a subholding company listed in the stock exchange — in which Iberdrola, S.A. holds an 81.5% stake — and its parent companies of the Renewables and Networks businesses. Iberdrola is the third largest wind power producer, distributing gas and electricity in the states of New York, Maine, Connecticut and Massachusetts through eight regulated companies.
- In Mexico, the company is present through Iberdrola Mexico, a subholding company, and its parent companies of the Renewables and Generation businesses. Iberdrola is the largest private electricity producer of the Mexican market.
- In Brazil, Iberdrola has managed to be present through Neoenergia, a subholding company — which is 50% + 1 share indirectly owned by Iberdrola, S.A. —, one of the biggest energy sector groups in the country, active in distribution, generation, transmission and sales.
- We are also present in Portugal, Germany, Greece, Hungary, Romania, Cyprus, Australia, etc. In this market, the company operates through Iberdrola Energía Internacional.
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OUR STRATEGIC PILLARS
The current trends in the energy sector — the decarbonisation of the economy to combat climate change and air pollution, the need for more energy production to cope with increasing demand, the development of streamlined processes to handle growing competition and a new customer-oriented approach with more information and a proactive attitude — have sharpened the focus of our three global businesses: Networks, Renewables and Wholesale and Retail.
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WE ARE THE UTILITY OF THE FUTURE
Gross investments over the next six years (2020-2025) will reach €75 bn, 90 % (€68 bn) of which will be organic. Over half of this organic growth (51 %) will be earmarked for renewable energy, and 40 % for networks. 83 % of the investments will be in "A" rated countries with climate ambitions, with the US and the UK accounting for €34 bn.
Renewable capacity will reach 60 GW by 2025, as against 32 GW in 2019. And the forecast investment in networks, as a key factor in the electrification of the economy and the energising of territories, will exceed €27 bn by 2025.
Business lines and main flagship projects
Our activities are organised around three global businesses:
- Networks: adapting the network to cater to consumer needs.
- Renewables: wind/solar power, tailored to customer needs.
- Wholesale and Retail: making the most of the opportunities of the energy reform and developing solutions adapted to the customer's needs.
Likewise, the company is rolling out different flagship projects, which are authentic milestones for the group because of their importance, scope and commitment to innovation.
Digital transformation and innovation
Iberdrola group plans to invest some 4.8 billion euros in digital transformation between 2018 and 2022 and will focus its investment effort on improving the operation and maintenance of its assets by using data analytics and Artificial Intelligence and increasing the availability of its generation plants. Our digital transformation pillars are:
Creating value for society
Iberdrola proves, year after year, that its sustainable business model creates value for shareholders, employees and society at large. For twenty years now Iberdrola has been centred on environmental, social and governance (ESG) criteria and absolutely committed to ethics, transparency and good governance. This commitment was reinforced with the inclusion in our Bylaws of the United Nations' Sustainable Development Goals (SDGs) under the Agenda for 2030.
Our purpose and the values that guide us
Our purpose is to continue building together each day a healthier, more accessible energy model, based on electricity. To achieve this, we are guided by three values: sustainable energy, integrating force and driving force.
A 'glocal' brand
Iberdrola identifies and respects the needs of each country in which it operates. The new experiences of each market have reinforced our culture and brand values:
- In Spain, through Iberdrola.
- In United Kingdom, through ScottishPower.
- In USA, through Avangrid*.
- In Mexico, through Iberdrola México.
- In Brazil, through Neoenergia**.
*Avangrid, Inc. is 81.50% owned by Iberdrola, S.A.
**Neoenergia, S.A. is 50% + 1 share indirectly owned by Iberdrola, S.A.
Hard work, talent, commitment and enthusiasm have always been the life force driving Iberdrola's history, a group that is now firmly established on both sides of the Atlantic.
With over 170 years of existence, the hallmark of the Group is its steady growth and its forward vision to prepare for society's future energy needs.
- Iberdrola launches €75 billion investment plan to 2025 as a firm commitment to economic recovery
- Record investments of €8.16 billion take Iberdrola's net profit to a record €3.4 billion in 2019 (+13%)