News
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07/02/2025 - 10:13 UTC +01:00The joint venture between bp and Iberdrola España starts construction work on Spain's largest green hydrogen plant The joint venture between bp and Iberdrola España has announced the start of construction work on Spain's largest green hydrogen project with 25 MW. This plant could create up to 500 jobs during its construction and approximately 25 Spanish companies will be involved in the work. The first phase consists of earthworks and the development of an approximately 20,000 m2 plot of land next to the bp refinery in Castellón. The civil works will begin in the second quarter of the year. The next milestone of the project will be the reception and installation of the first main equipment, including the electrolysers , which is expected to take place in the second half of 2025. This equipment allows the production of green hydrogen through a chemical process (electrolysis) capable of separating the hydrogen and oxygen molecules of which water is composed using electricity from renewable sources. Carolina Mesa, bp's vice president of hydrogen for Spain and new markets, said, "The start of construction of the largest green hydrogen plant in Spain is great news, because it allows us to see tangible progress in an important industrial decarbonisation project. The bp refinery in Castellón consolidates itself as a model for the transformation of refineries into integrated energy hubs”. Jorge Palomar Herrero, Director of Hydrogen Development at Iberdrola said, "This project is already enabling the real development of the hydrogen value chain in our country with key equipment manufactured in Spain and contracting more than 25 local companies. The project also brings in 200 GWh/year of renewable energy from Iberdrola's wind and photovoltaic plants in Spain and meets all EU requirements to ensure that the hydrogen produced is green hydrogen". The announcement strengthens bp and Iberdrola's leadership in the hydrogen sector, an energy vector that has the potential to play a significant role in the decarbonisation of industry . In addition, Iberdola and bp continue to advance their partnership to accelerate electric mobility and lead high-power public charging in Spain and Portugal. Spain's largest green hydrogen plant The project has an investment of more than €70 M and is being developed jointly by bp and Iberdrola España through Castellón Green Hydrogen S.L., a company equally owned by both companies. The plant is expected to be operational in the second half of 2026. The 25 MW electrolyser will be powered by renewable electricity through a power purchase agreement (PPA) supplied by Iberdrola from photovoltaic and wind farms. The production of 2,800 tonnes of green hydrogen a year is expected to replace part of the grey hydrogen currently used by the refinery in its processes and is expected to prevent the emission of approximately 23,000 tonnes of CO2 a year, or the same amount as 5,000 cars produce in the same period. In later phases of the project, the green hydrogen produced could also be used in key industries that are difficult to decarbonise in the Valencian Community, like ceramics, to replace the natural gas used in their processes, in chemical industries and in heavy transport. This initiative, with the participation of the Instituto Tecnológico de la Energía (ITE), has obtained funding equivalent to €15 M from the Innovative Value Chain and Renewable Hydrogen Knowledge support programmes within the Spanish Recovery, Transformation and Resilience Plan, with funds allocated by the European Union's NextGenerationEU. Confidence in Spanish companies The companies recently awarded the manufacture and supply of the transformer to the Spanish company Imefy. Based in Toledo, the La Mancha-based company will manufacture, supply and supervise assembly and commissioning of the three-phase power transformer, with 37 megavolt amperes (MVA) of power and 66/30 kilovolts (kV) of transformation ratio. It will be supplied in the first quarter of 2026. This award demonstrates the confidence of bp and Iberdrola, through the company created for the Castellón Green Hydrogen project, in Spanish companies in the development of the renewable hydrogen value chain, strengthening industry in the region and creating industrial and innovation opportunities in a growing market, acting as a lever for development. READ MORE
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06/02/2025 - 18:54 UTC +01:00Neoenergia sells Baixo Iguaçu hydroelectric plant to EDF and STOA Iberdrola has sold the Baixo Iguaçu hydroelectric power plant to the French electricity company EDF and the French investment fund STOA. Through its Brazilian subsidiary, Neoenergia , the company chaired by Ignacio Galán controlled 70% of the Baixo Iguaçu Hydroelectric Power Plant, located in Paraná. This plant has an installed capacity of 350 MW and 172 MWm of assured energy. The operation is valued at 1,430 million Brazilian reals (c. 240 million euros). The price is subject to the usual adjustments in this type of transaction. This transaction reinforces Iberdrola's asset rotation strategy focused on portfolio optimization with value creation, capital discipline and simplification of its structure. Partnerships for growth Iberdrola has recently closed several long-term alliances to accelerate its growth and promote the decarbonisation of the economy while maintaining its financial strength, including: * Iberdrola has given Kansai an entry into the German offshore wind project Windanker valued at 1,280 million euros. * Last October, Iberdrola closed the purchase of the British company ENW to continue expanding its network business, with Kansai as a partner. * In January 2023, it signed an alliance Norges Bank to co-invest in renewables that, after its expansion, will reach 2,500 MW. * In December 2023, Iberdrola closed an agreement with Masdar to co-invest up to $15 billion in offshore wind and green hydrogen in Germany, the United Kingdom and the US, the first milestone of which was the agreement announced in July for the Baltic Eagle offshore wind farm in Germany. * In September 2023, the company closed an alliance with GIC for the expansion of transmission networks in Brazil for 430 million euros. * The company sold more than 8,400 MW of combined cycle gas plants in Mexico last February for 6,200 million dollars. * In March 2023, Iberdrola and BP launched a joint venture to deploy 11,700 fast-charging points in Spain and Portugal and have formed a 50/50 joint venture to develop a 25 MW green hydrogen project, the largest plant in Spain. * Iberdrola and MAPFRE have continued to make progress in their satrategic alliance by incorporating 150 new MW through a joint venture, which already has 450 MW. * In addition, Iberdrola signed an alliance with Energy Infrastructure Partners to co-invest in the Wikinger offshore wind farm and boost its offshore wind portfolio. READ MORE
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06/02/2025 - 16:51 UTC +01:00Ignacio Galán calls on Europe for “long-term” strategies and not “last-minute” decisions The Executive Chairman of Iberdrola , Ignacio Galán, has called on the European political authorities to develop "long-term" energy strategies, as opposed to "last-minute" decisions, to give the sector the "predictability and stability" it needs to make investments. Galán was speaking at the International Energy Policy Forum 2025, organised by the British newspaper Financial Times, in Brussels, and whose speakers also included Fatih Birol, Executive Director of the International Energy Agency; Dan Jørgensen, European Commissioner for Energy and Housing; Irene Heemskerk, head of the ECB’s Climate Change Centre; Kristian Ruby, Secretary General of Eurelectric, and Ann Mettler, Vice-President for Europe of Breakthrough Energy. "Our investment decisions are made with 40 or 60-year time frames. We cannot live in an environment where decisions are made depending on last-minute problems and circumstances", the Chairman said. "We need predictability, stability, the rule of law and an environment in which we can easily do our job". Throughout his speech, Ignacio Galán argued for greater energy autonomy for Europe, as opposed to dependence on third parties and natural gas, which undermines the continent’s competitiveness. In this regard, he pointed to electrification as a solution, which he said is "unstoppable" in Europe, where there is an "enormous demand waiting to be connected" to the grid; but "for that it is necessary to provide access to an infrastructure that is sufficiently large, strong and reliable". In the same way, he insisted that the renewables sector requires "a stable and predictable framework" and warned that, "if the rules change because of any political situation, the money will go elsewhere". Galán emphasised that renewables are efficient and competitive and that they "allow for energy autonomy". For this reason, "we must invest in networks, renewables and storage", because electrification in Europe means security, independence and self-sufficiency. Galán considered that Europe has "a structural problem", due to the lack of gas reserves. "Countries that have them start from a competitive advantage. The more gas we import, the less competitive we will be." "Europe wants to be more competitive. Europe wants to be number 1", but "we have to be convinced that this is a must", he said. "Europe doesn’t want to be just a destination for holidays and beautiful monuments—we want to be an industrial and technological hub, an attractive region for young people". He also stressed the importance of decarbonisation as a synonym for self-sufficiency, the need to be independent from third parties in terms of energy and the duty to promote local industry and the value chain. In this sense, he argued that it is "crucial" that Europe "maintains its current capacities" and promotes new ones to reduce its dependence on the outside. Regarding Donald Trump’s new US administration, he pointed out that Iberdrola has been in the country for more than 20 years and has invested 45 billion dollars, and recalled that during the President’s first term in the White House, the company "continued to invest in renewables and networks". In any case, he repeated, the bulk of the business in the country, the networks, depends on the regulation of the States and not of the federal Government, adding that it is necessary to wait to see if Trump decides to continue with the "support plans" for the sector or not. With regard to renewables, he said that the main customers are large companies such as Amazon, Google and Apple, which demand clean electricity. Watch the video of the forum ‘Building the green economy of Europe. How can the energy transition boost growth and cohesion?’. READ MORE
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06/02/2025 - 13:00 UTC +01:00Iberdrola España and Cinesa join forces to bring renewable energy to the big screen Iberdrola España will supply renewable energy to all Cinesa’s cinemas in Spain, Spain’s leading cinema movie exhibition company, thus reinforcing its commitment to the environment. This agreement will enable the company's 35 cinemas in 11 autonomous communities to operate with 100% renewable electricity, which will prevent the emission of 10,089 tonnes of CO2 over the next three years, the equivalent of what could be absorbed by a forest with 1,008,900 trees. The agreement extends to the big screen the environmental benefits of the 'Iberdrola Green Theatres' initiative under which Iberdrola España already provides green energy to 16 emblematic theatres in Madrid, consolidating its commitment to decarbonisation and sustainable entertainment. You can read the full story at Iberdrola España's Press Room . READ MORE
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06/02/2025 - 10:04 UTC +01:00Iberdrola this year again on ‘A List’ of the world's most transparent companies in climate change Iberdrola, Europe's leading electricity company by stock market value, remains on the world's most prestigious CDP ‘A List’ thanks to its commitment to disclosure, transparency and environmental action. CDP is a global non-profit that operates the world's only independent environmental disclosure system so companies, capital markets, cities, states and regions can manage their environmental impact. For its assessment, CDP uses a detailed and independent methodology, assigning a score from A to D based on completeness of disclosure, knowledge and management of environmental risks and demonstration of best practices associated with environmental leadership. These include setting ambitious and meaningful targets. Aligned with international and European standards and the latest recommendations, CDP has the world's largest environmental database, whose scores are used to drive investment and procurement decisions towards a sustainable, resilient and zero-carbon economy. Iberdrola is a global benchmark in sustainability. Not only does it hold the CDP distinction, but it is also in the main international sustainability indexes , including the Dow Jones Sustainability Index (S&P), Moody's ESG, MSCI, Sustainalytics, ISS-ESG, EcoVadis, and FTSE4Good. Self-sufficiency and combating climate change Iberdrola continues to advance in its commitment to energy self-sufficiency and in its proactive role as an active agent in the fight against climate change. Iberdrola already has more than 44,000 megawatts (MW) of installed renewable capacity worldwide and 84% of its electricity generation is emissions-free. READ MORE
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05/02/2025 - 13:26 UTC +01:00Iberdrola and CCR Group seal deal for clean and efficient energy supply in Brazil Neoenergia , Iberdrola's subsidiary in Brazil, and the CCR Group have signed a strategic agreement whereby the mobility infrastructure company will obtain clean energy from the Neoenergia Oitis wind power complex, located between the Brazilian states of Piauí and Bahia. Under the agreement, the clean energy generated by the Oitis 2, Oitis 4 and Oitis 6 plants will supply 60% of the CCR Group's current demand. This is the first project of this kind for the company that operates the São Paulo metro lines and the São Paulo Metropolitan Trains Company (CPTM). In total, 44 megawatts (MW) of Oitis' production will be used for the energy consumption of CCR's subsidiaries over 16 years. In this self-production model, the energy-consuming company buys shares or invests in a plant together with the power company. This ensures incentives that cut costs. You can read the full article at the Neoenergia Newsroom . READ MORE
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04/02/2025 - 16:34 UTC +01:00Avangrid guarantees supply to more than 1 M homes and businesses during the latest cold snap in the US Avangrid, Iberdrola's US company , provides electricity from its energy assets located throughout the country, even during the coldest winter months. Avangrid provided power and heat during the historically cold temperatures that affected much of the central part of the country last week. The company has more than 30 power facilities located between the Rockies and the Appalachian Mountains, with a combined installed capacity of more than 4.5 gigawatts (GW), which have provided power to families and businesses that rely on it every day. Together, these facilities are capable of producing enough energy to power the equivalent of approximately 1 M homes. In addition to being there when they are needed most, these facilities are important economic drivers in the communities, paying rent on land and providing critical tax revenues to strengthen a variety of public services, including schools. You can read the full story in the Avangrid Newsroom . READ MORE
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03/02/2025 - 17:11 UTC +01:00Ignacio Galán holds a meeting with the President of the Valencian Government The Executive Chairman of Iberdrola, Ignacio Galán , held a meeting with the president of the Valencian Government, Carlos Mazón, to analyse the work being done to refit the areas affected by the cold drop. During the meeting, Mazón and Galán discussed the il-lumina project, through which the company is going to invest €100 M in the region to redesign the electricity distribution grid and make it more resilient and robust. The president has valued the business’ investment "in our region to speed up the economic and social development of Valencia in such a fundamental issue like power and contribute to rebuilding the areas affected by the floods". Mazón thanked the Iberdrola employees for the work carried out after the floods to help residents get back to normal. The company mobilised more than 500 workers from different parts of the country to restore service to the approximately 180,000 customers affected, managing to restore it to 100% in just 72 hours. Ignacio Galán conveyed "Iberdrola's firm commitment to this region and to the well-being of its residents", a land the company has had a close relationship to since its founding almost 125 years ago and where its management committee met today. The impact of the company's activity in the Valencia Region amounted to €875 M in 2023 and its fiscal contribution was more than €320 M. Iberdrola invested more than €265 M and purchased €185 M from 422 local suppliers. This meeting is part of the round of meetings that the president is holding with companies and financial institutions to analyse repairs in the municipalities affected by the floods. READ MORE
