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The historic investment programme announced by the company for 2020-2025 reaffirms its commitment to renewable energy. Of the projected €75 bn, 90 % will be organic investments (€68 bn) and, of these, 51 % (some €34.68 bn) will be earmarked for renewables, which will amount to 60 gigawatts (GW) of installed capacity by 2025, doubling the current capacity. To put this plan into action Iberdrola is in a unique position, with one of the biggest renewable pipelines in the industry, totalling 70.5 GW.
Women represented 23 % of Iberdrola's workforce. Although the progress made so far is significant, our goal is to continue moving forward to become an international benchmark in equality, both inside and outside the company.
Iberdrola group, through its US subsidiary, AVANGRID, has approved the purchase of the US energy company PNM Resources, which operates in New Mexico and Texas. The company will merge with AVANGRID to create one of the largest US companies in the sector, with 10 regulated electricity companies in six states (New York, Connecticut, Maine, Massachusetts, New Mexico and Texas), and the third-largest renewables operator in the country, present in a total of 24 states.
Iberdrola is a benchmark company in the Ibex 35 index in the presence of women in the group's highest management body — with more than a third —, which is proof of our global commitment to gender equality.
Iberdrola becomes the first company listed in the IBEX 35 to broaden the scope of its Sustainable Event Management System to include ISO 20121 certification for its Results Presentations and Capital Markets Day. The company was already the first in Spain's IBEX 35 stock market index to take steps in this direction in 2016, and became the first in the world's top 10 electricity corporations to be given the AENOR standardisation body's seal for Sustainable Event Management Systems, which initially only covered the General Shareholders' Meeting and now includes two more major corporate events.
The company is putting an end to coal with the closure of the Lada (Asturias) and Velilla (Palencia) thermal power stations, culminating a process initiated in 2001 that has led to the closure of 17 coal and fuel oil thermal power stations around the world with a total production of more than 8,500 MW.