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25/02/2019Iberdrola speeds up global growth with investments of €34 billion by 2022 Iberdrola is stepping up global growth with investment rising to €34 billion in the 2018-2022 period. This breakthrough means an upward revision from initial outlook, made possible by accelerated delivery of targets and new opportunities in the various countries where the company operates. The updated 2018-2022 Outlook announced today in London follows the news that for the first time, Iberdrola has broken through the 3 billion-euro barrier in terms of net profit for a financial year – €3.014 billion in 2018 – within a context that is highly favourable to ensuring organic growth in the main geographical areas where it is present: Continental Europe (with the significant role played by Spain), United Kingdom, Brazil, United States and Mexico. As the Group’s Chairman, Ignacio Galán, explained “through this plan we give a major boost to the irreversible transition towards a low-carbon energy model. Our capital expenditure grows by €2 billion and our generation capacity will be nearly 40% higher by the end of 2022.” In particular, of the €34 billion total investment, 86% will be in regulated or long-term contracted activities, in line with the company's strategy of focussing on businesses characterised by stable and predictable returns. Thus, 47% of the overall amount – €16 billion – will be invested in Networks and 39% – €13.3 billion – in Renewables. Generation and Supply will receive 11% of the total – €3.8 billion –. As a result, Iberdrola will have increased its installed capacity by 29% throughout the implementation of its strategic outlook. The company is currently advancing development and installation of 10,113 new megawatts (MW), of which 65.3% – 6,606 MW – correspond to renewable energy projects. In addition, by 2023, Iberdrola will have €5.3 billion of capital in progress, mainly in the offshore wind farm projects of Saint Brieuc (France), Vineyard Wind (USA) and Baltic Eagle (Germany), as well as the Tâmega hydroelectric complex in Portugal. Practically all investment in Networks – around 98% – is already secured thanks to the regulatory frameworks established in the different countries. In consequence, the value of Iberdrola’s regulated assets will have increased 34% by 2022, with the total standing at €38.9 billion. In the three business areas – Renewables, Networks, and Generation and Supply – capital in progress towards the end of 2022 will be €9 billion which will contribute to profit generation beyond that date. In Renewables, Iberdrola will have 9,900 new MW on stream by year-end 2022 compared to the 2017 close. The company will also reach 90 gigawatts per hour (GWh) of storage capacity in 2022, an increase of 20 GWh on current levels. Storage through pumped hydro technology is the key to ensuring greater penetration of clean energies in the power system. With regard to currency spread, the company will continue to maintain a diversified profile: 36% of investment will be in dollars, 29% in euros, 17% in sterling and 18% in Brazilian reais. New opportunities – leading the energy transition In a context of growing energy demand, the energy transition requires the implementation of a clean, reliable and intelligent energy model which facilitates the electrification of the economy. Thanks to innovation and technological progress, this transition is now possible at a lower cost, accompanied by ever-greater customer empowerment. In this sense, new opportunities are opening up for Iberdrola. The company will be able to take on new renewable energy projects in all countries where it operates, as well as commissioning new transmission and distribution assets in the United States, Brazil and the United Kingdom. In Spain, where the Government recently presented the Integrated National Energy and Climate Plan (NECP) for 2021-2030, the company will further consolidate its position at the forefront of renewable energy, leading the energy transition. The company will have 3,000 MW of new wind and solar power on stream by 2022 – up 51.9% from 2018 year end – and a total of 10,000 new MW by 2030, meaning that the company's wind and solar generating capacity will have grown three-fold. Iberdrola currently has 700 MW under construction, plus 2,500 MW under development and a project pipeline of over 7,000 MW. Over 2018-2022, the company’s total investments in Spain will be €8 billion, a rise of 40% from the initial plan estimates. New renewable initiatives in Spain will double the investment figure to €4.2 billion over the four year span. To deliver them, a long-term regulatory framework needs to solidify, thus providing certainty and stability to investments. New opportunities are also emerging for Iberdrola in the offshore wind power industry. The company has a total project pipeline of over 10,000 MW, with new projects located in the United States, United Kingdom, Germany and France. Currently, the company has awarded projects which together with installed capacity will reach over 2,000 MW in 2022 and nearly 1,000 additional MW thereafter. Higher earnings and dividend, keeping up financial strength The new investments planned for 2018-2022 allow Iberdrola to step up expansion and improve its earnings forecasts for the period. The company expects to close 2022 with net profit between €3.7 billion and €3.9 billion, an increase of 30% on 2018 and an EBITDA in excess of €12 billion. Thus, former upper part of the range becomes the lower part of the new updated range for 2022. Such results will allow Iberdrola to meet its commitment to increasing its annual shareholder return in line with earnings. Iberdrola will set growing minimum annual pay-outs, reaching a floor of €0.40 gross per share by 2022. The implementation of its Outlook as revised today in London will also mean the continuous improvement of efficiency levels and implementing a non-strategic asset rotation plan, whose value will increase to €3.5 billion over the period. As a consequence of the above, the company will maintain balance sheet strength: the cash flow to net debt ratio will exceed 24% in 2022. About Iberdrola 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 is present in numerous countries and supplies energy to over 100 million people mainly in Spain, the United Kingdom (Scottish Power), the USA (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 and assets in excess of Euros 113 billion, it posted revenues of 35.0759 billion euros and a net profit of 3.014 billion euros in 2018. Iberdrola is 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 its customers. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for sustainability. READ MORE
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20/02/2019Iberdrola delivers record results in 2018 Ignacio Galán, Iberdrola CEO, discusses full-year results as the company raises the dividend and announced a share buy-back. He speaks with Bloomberg's Francine Lacqua on Bloomberg Surveillance. * It is the first time the group’s earnings have exceeded €3bn as a consequence of investments in renewables, networks and storage carried out over the past few years. * Guidance for 2019: over 6,000 MW of new installed capacity and efficiency improvements will enable Iberdrola to deliver mid-single digit growth in 2019. * Planned investments in renewables will continue to accelerate in Europe over the coming years. * Iberdrola’s growth plans are based in organic growth. The energy transition is an opportunity for all countries and businesses. * 2018 earnings allow Iberdrola to continue increasing shareholders’ remuneration in line with results. Record results allow for a 7.7% rise in dividend. READ MORE
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20/02/2019Iberdrola exceeds €3 bn net profit for the first time in 2018, up by 7.5% Iberdrola achieved a net profit of €3.014 billion in 2018, 7.5% more than in the previous year. It is the first time the group’s earnings have exceeded €3bn and was achieved due to investments carried out over the past few years, international growth, the normalization of operating conditions in Spain and good performance across all businesses. These engines for growth were more than enough to offset the negative impact of exchange rate movements (€-363 million) and the fall in non-recurring income compared with the previous year. The Chairman of Iberdrola, Ignacio Galán, assessed group results by saying that “the earnings are proof of the success of a sustainable model and they encourage us to continue pushing for the transition to a low carbon economy.” “The fight against climate change is an opportunity,” he added. Capital expenditure undertaken by the company amounted to €5.32 billion in the year, with total investments reaching €20 billion over the past four-year period. In addition, under construction are 6,606 MW renewable capacity (1,514 MW of offshore wind capacity, 2,548 MW onshore wind, 628 MW of solar technology and 1,916 MW of hydroelectric power), and 3,508 MW in new gas combined-cycle plants. Iberdrola’s revenues in 2018 amounted to €35.075 billion, representing an increase of 12.2% relative to 2017. Gross profit also improved, reaching €15.435 billion, up 15.5% year on year. Gross operating profit (EBITDA) was €9.348 billion, up by 27.7% year on year. Performance has been positive in all businesses, with over 10% growth. Regulated businesses and with long-term contracts now contribute to 77% of global EBITDA, in line with the company’s strategy. In Networks, EBITDA stood at €4.915 billion, representing an increase of 16.2% from previous year, with improvements in all countries. In Renewables, EBITDA amounted to €2.444 billion, a 39.3% increase, driven by growth in all markets thanks to higher production (+21.7%) and increased installed capacity, which now stands at 29,177 MW worldwide. Generation and Supply also posted improved results in all geographical regions, reaching EBITDA of €2.038 billion, up by 39.3%, driven by the return to normal conditions in the UK retail market, increased generation capacity in Mexico and increased demand in Spain. Iberdrola continued to improve its efficiency levels throughout the year, thanks in particular to the measures applied in Brazil and the United States. Specifically, the ratio of operating costs to gross margin was reduced by 429 basis points to 26.9% at the year end. Neoenergia, Iberdrola’s Brazilian subsidiary, fully consolidated since the second half of 2018, posted a net profit of R$ 1.536 billion, up by 278%. In the United States, subsidiary company AVANGRID, which is listed on the New York stock exchange and in which Iberdrola holds an 81.5% stake, obtained a net profit of US$684 million for the year. Funds from operations (FFO) reached €7.328 billion in 2018, up 13.1%. Iberdrola thus continues to improve its credit ratios: the ratio of net debt (which stood at €34.14 billion at year-end) to EBITDA is 3.65, while the ratio of FFO to net debt stands at 21.5%, thus meeting the objectives set for the end of 2018. Record results allow for a 7.7% rise in dividend The profit obtained by Iberdrola over the course of 2018 allows it to meet its commitment to increasing shareholders’ remuneration in line with results. Thus the company’s dividend for the financial year last ended will amount to €0.351 gross per share, 7.7% more than what was paid against 2017 earnings. This amount is obtained by adding the interim dividend for 2018 – €0.151 euros gross per share – paid on 5 February last to the €0.20 gross per share of complementary dividend to be paid in July if it’s approved by Iberdrola’s upcoming Shareholders’ Meeting, called for 29 March. For this purpose, shareholders will also be asked to vote on a capital increase, so that a new edition of ‘Iberdrola Flexible Remuneration’ can be implemented. This system offers shareholders a choice between receiving their dividend in cash or in free, fully paid up company shares. The Board of Directors of Iberdrola has also approved a new edition of the share buy-back programme, which cancels out the dilutive effect of the scrip dividend while holding the number of company shares at 6.24 billion. Total shareholder return (TSR) in 2018 stood at 14% vis-à-vis -11.5% of Ibex35 and +5.2% of the Eurostoxx Utilities benchmark index. Iberdrola, driving economic and social development Iberdrola continues to act as a driver for economic and social development in the countries where it operates, in line with the UN Sustainable Development Goals (SDGs) for 2030 which the group has incorporated to its strategy. Iberdrola provides direct jobs to 34,000 people – 99% with permanent contracts – and provides some 1.6 million hours of training to its employees throughout the year. In the course of 2018 3,414 new recruits joined the company. The group generates 425,000 indirect jobs worldwide[2] . In 2018, procurement of goods and services by Iberdrola to thousands of companies across the entire supply chain stood at €7.75 billion, 85% of which were awarded to local suppliers in accordance with the company’s commitment to enrich the social and economic fabric in the areas where it operates. The company advances its pledge to become carbon neutral by 2050: specific emissions sank to 82 grams of CO2 per kilowatt hour (kWh) in Spain, as opposed to 302 gr CO2/kWh for the European industry average[3]. On equal opportunity issues, Iberdrola has approved the Board of Directors Diversity and Director Candidate Selection Policy and has become the first Ibex35 blue-chip index company by percentage of women on its Board of Directors[4] which stands at 42.8%. Growth outlook for 2019 Iberdrola has attained the objectives set for 2018 while at the same time accelerating fulfilment of the Strategic Outlook for 2018-2022, which will be updated on 26 February in London. In this sense, the group’s Chairman, Ignacio Galán, highlighted that “the results that we present today allow us to implement our strategic objectives one year earlier.” At the end of 2019, the growth of network assets with regulated revenues, the enhanced generation capacity and improved efficiency allow the company to maintain a mid-single-digit growth rate in both EBITDA and net profit. [1] Includes 2018 and first quarter of 2019. [2] Direct, indirect and induced job [3] Latest available data for 2017 [4] Subject to the approval by the AGM of the appointment of Sara de la Rica as an independent Board member READ MORE
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11/02/2019Iberdrola selects MHI Vestas Offshore Wind as preferred turbine supplier for Baltic Eagle project In Germany Berlin. Iberdrola has selected MHI Vestas Offshore Wind as preferred turbine supplier for its 476-megawatt (MW) Baltic Eagle offshore wind farm on an area of 40 km2 being developed in German waters of the Baltic Sea, off the island of Rügen. The contract will include up to 52 units of the V174-9.5 MW offshore wind turbine, the newly released version of the game-changing 9 MW platform from MHI Vestas. With this decision Iberdrola builds up on its commitment to the project’s development after the launch of the main geotechnical campaign back in the summer of 2018. All necessary design and contracting activities for main components are also progressing according to the project programme. The director of Iberdrola’s Renewables Business, Xabier Viteri, stressed that Baltic Eagle “confirms the company's firm commitment to use technological innovation to delivering utility-scale renewable projects which combat climate change and foster economic and social development in the territories where we operate.” “We are extremely proud to launch our V174-9.5 MW turbine with the Baltic Eagle project,” said MHI Vestas CEO, Philippe Kavafyan. “This will be a tremendous opportunity for MHI Vestas to deepen our experience in German waters and notably in the Baltic Sea. We look forward to confirming the order with Iberdrola and readying for installation.” Baltic Eagle is the second major offshore initiative undertaken by the company in Germany, one of its key strategic markets, following the successful connection to the grid of the 350-MW Wikinger wind farm at the end of 2017. Together with Wikinger and Wikinger Süd, it will give rise to the largest offshore wind complex in the Baltic Sea, with a total installed capacity of 836 MW and a joint investment of 2.5 billion euros. The complex will be able to produce enough energy to meet 45% of the total electricity consumption of the state of Mecklenburg-West Pomerania and it will displace the emission of 1.65 million tons of CO2 per year, thus contributing to meeting Germany’s emission reduction targets. The whole complex will be operated through Mukran port on the island of Rügen. Baltic Eagle is around 75km off the coast and will also be connected to station Lubmin through 2 new HV cables by 50Hertz. Bringing down the cost of offshore wind technology Iberdrola is delivering a large cut in the cost of offshore wind power through Baltic Eagle, after a successful bid in the second offshore tender organised by Germany’s Federal Network Agency (Bundesnetzagentur). This has been made possible by Iberdrola’s use of advanced technology, such as larger and more efficient wind turbines. In this sense, Iberdrola continues to build its relationship with MHI Vestas. This is the second preferred turbine supplier agreement signed by the two companies, after having signed a similar agreement for the 800-megawatt (MW) Vineyard Wind facility in the United States. The deal foresees delivery and installation of the WTGs in 2022 / 2023. Iberdrola offshore wind business With a strong and extensive pipeline of over 9 GW and nearly 3 GW in operation, under construction or with secured long-term contracts, offshore wind power has consolidated as a core business for Iberdrola, key to the company’s future growth which is based on operational excellence and efficiency. Large investments are planned up to 2022 mainly in the United Kingdom, United States, Germany and France. The Group already operates the 389-MW West of Duddon Sands (WoDS) offshore wind farm in the Irish Sea (since 2014) and 350-MW Wikinger in the German Baltic Sea (since 2017) and is installing the 714-MW East Anglia One offshore wind farm in British waters in the North Sea. At different stages of planning and development are 496-MW Saint-Brieuc project, off the coast of Brittany in northern France, which will use sixty-two Siemens-Gamesa turbines each with 8-MW unit capacity; 800-MW Vineyard Wind, a joint venture with Copenhagen Infrastructure Partners, off the coast of Massachusetts; and Baltic Eagle. About Iberdrola Iberdrola is a global energy leader, the main wind power producer and one of the world’s largest electric utilities by market capitalization. The group operates in many countries and supplies power to nearly 100 million people, mainly in Spain, the United Kingdom (ScottishPower), the United States (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 people and assets worth €110 billion, it filed a turnover of €31.2 billion and a net profit of €2.8 billion in 2017. Iberdrola leads the energy transition towards a sustainable model through investments in renewable energy, smart grids, large-scale energy storage and digital transformation, offering the most advanced products and services to its customers. Thanks to its commitment to clean energy, it is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and the sustainability of the planet, all of which have placed the group in prominent positions on indexes such as the Dow Jones Sustainability Index and FTSE4Good. Iberdrola is considered as one of the world’s most sustainable electricity companies. About MHI Vestas Offshore Wind MHI Vestas Offshore Wind is a joint venture between Vestas Wind Systems A/S 50% and Mitsubishi Heavy Industries (MHI) 50%. The company’s focus is to design, manufacture, install and service wind turbines for the offshore wind industry. The company aims to create sustainable value through offshore wind power by driving capital and operating savings and increasing the power output of wind turbines. An innovative force in offshore wind since its inception in 2014, the company is guided by its founding principles of collaboration, trust, technology and commitment. For more information, see www.mhivestasoffshore.com or follow @MHIVestas on Twitter. READ MORE
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07/02/2019Arias Cañete and Galán inaugurate the Iberdrola Manuel Marín European Energy Policy lectureship at the Colegio de Europa The European Commissioner for Climate Action and Energy, Miguel Arias Cañete, and the Chairman of Iberdrola, Ignacio Galán, have today inaugurated the European Energy Policy Lectureship at the Colegio de Europa, which as from this academic year will be called the Iberdrola Manuel Marín Lectureship. In order to launch this lectureship, a conference was held this afternoon in the House of European History in Brussels entitled Energy decarbonisation: lessons from history and policies for the future", during which Arias Cañete and Galán discussed the commitment of the Old Continent in the fight against climate change. Ignacio Galán pointed out that achieving a net emissions economy in Europe will allow the creation of great benefits for all citizens, not just environmental, but also economic and social. The technology necessary to achieve it exists, he said, but it´s essential to act right from today, and for all players and sectors to get involved, taking measurements and checking on everyone´s efforts. The aim of this lectureship is to teach, research and discuss the energy policies of the European Union. The activities promoted include teaching of all the subjects related to energy policy; organising high-level conferences with key players in the energy policy legislative process, as well as seminars and workshops; encouraging research work and, finally, fostering relations between European institutions and leading associations in the sector. This initiative is part of the Iberdrola Talent programme. Through it the company maintains a close relationship with the academic world to foster the training and specialisation of young students and to enhance their employability. Over the last 5 years, Iberdrola has contributed to the training of almost 4,000 university students. The Colegio de Europa played an important part in the life of Manuel Marín, who headed the Iberdrola Foundation Spain for over a decade, between 2008 and 2018. In fact, he won his first scholarship there and formed part of one of the first graduating classes of Spanish students, in 1973. He later became a lecturer and president of its Board of Directors, between 1990 and 1996. Consequently, and by way of acknowledging his outstanding role in the construction of Europe, with achievements as important as the launch of the Erasmus student exchange programme, the Colegio de Europa has today announced that the 2018-2019 graduate year will bear the name of Manuel Marín. Galán concluded his speech by dedicating a few words to Marín, with whom he shared an enduring friendship. As well as highlighting his strong beliefs and values, the Chairman of Iberdrola underlined how, under his leadership, the Iberdrola Foundation Spain became a leading institution in the country, winning recognition and having a social impact. About Iberdrola 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 is present in numerous countries and supplies energy to over 100 million people mainly in Spain, the United Kingdom (Scottish Power), the USA (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 and assets in excess of €110 billion, it posted revenues of over €31.263 billion and a net profit of €2.804 billion in 2017. Iberdrola is 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 its customers. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for sustainability. READ MORE
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06/02/2019Ignacio Galán, named ‘Universal Spaniard’ by Fundación Independiente Ignacio Galán has been awarded the distinction of "Universal Spaniard" by Fundación Independiente, by means of which they wished to "acknowledge and pay tribute to the extraordinary track record" of the Chairman of Iberdrola who has led cutting-edge companies in industrial and technological fields, in which he has embodied "his vision of the future and ability to anticipate society's new needs". The presentation took place during an event held last night at the Royal Tapestry Factory in Madrid following input from the president of the Fundación Independiente, Aldo Olcese, and the citation for Galán delivered by the Executive Secretary of the United Nations Framework Convention on Climate Change, Patricia Espinosa. The president of Fundación Independiente highlighted, in the company of the Minister for Employment, Magdalena Valerio and around 300 guests, that "Ignacio Galán's management has been marked by the creation of value for society, fundamentally through the creation of jobs and the boosting of the industrial fabric". Likewise, Olcese, who read a testimony of support for the nomination put forward by the President of the Government, Pedro Sánchez, made it known that the Chairman of Iberdrola "has been able to appreciate the necessity and urgency of making the energy model more efficient and environmental, and has demonstrated that it is possible to combine a successful business project with sustainable development". On this subject, he pointed out that with Ignacio Galán at the helm, Iberdrola is today "one of the world's leading energy companies, with a presence in dozens of countries and renowned for its firm and pioneering commitment to renewable energy, the fight against climate change, and innovation and corporate social responsibility. Aldo Olcese concluded his contribution by emphasising Galán's personality as a man of "far-reaching and strategic vision, with enormous ability and determination to set and meet targets". “A new stimulus to keep improving our country” After expressing his thanks, the Chairman of Iberdrola stated that this award represents "a new stimulus to go on helping to crystallise Spain's great potential, and making our country a better one in a better world". On this topic, Ignacio Galán asserted that "Spain is a great country, made by great people. During my extensive travels the length and breadth of this earth, I have witnessed the great work, dedication and courage of so many women and men who make the name of Spain synonymous with hard work, solidarity, innovation and creativity, always accompanied by a great sense of responsibility. This is why I have always felt profoundly proud of being spanish and belonging to a country so diverse in regions and territories”. The Chairman of Iberdrola declared his conviction that "the men and women who make up the diverse and pluralistic reality that is Spain have the necessary potential to face up to the challenges of this global world", and referred to the UN's Sustainable Development Goals for 2030 as the best guide, since they set out a "firm commitment to improving the quality of life for citizens; equality; conservation of the environment and youth, which Iberdrola is backing strongly". Fundación Independiente started the "Universal Spaniards" series in 1996 to distinguish those Spaniards who, by meeting three requirements - having deep-rooted democratic convictions, being defenders of the public and having a wide international outlook - could serve as a model of excellence for society. Some of those who have received the award thus far include: Camilo José Cela; Placido Domingo; Vicente Ferrer; Federico Mayor Zaragoza; Margarita Salas; Julio Iglesias; Miguel Induráin; José Lladró; Pedro Duque; Father Ángel García; Ricardo Díez-Hochleitner; Rafa Nadal; Dr. Valentín Fuster; Universal Homage to the Spanish Language; Iberia Airlines of Spain and Dr. Rafael Matesanz. About Ignacio Galán and Iberdrola - Profile of I. Galán - Professional profile and background of I. Galán Iberdrola is a global energy leader, the biggest producer of wind power and one of the five top power companies in the world in terms of stock market capitalisation. The group is present in numerous countries and supplies energy to over 100 million people mainly in Spain, the United Kingdom (Scottish Power), the USA (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 and assets in excess of €110 billion, it posted revenues of over €31.263 billion and a net profit of €2.804 billion in 2017. Iberdrola is 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 its customers. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for the sustainability of the planet. Iberdrola forms part of numerous international sustainability indices, among them the Dow Jones Sustainability Index and FTSE 4Good, and is considered one of the most sustainable electricity companies in the world. About Fundación Independiente - www.fundacionindependiente.es Fundación Independiente, at 30 years old, is the most senior institution dedicated to analysing and supporting Spanish society. Many have been the initiatives and activities undertaken throughout these three decades - analysis, debate and proposed solutions on matters that concern the general interest of the nation and the common good of Spanish society - that attest to its commitment and dedication. With over 230 events held and 120 publications, Fundación Independiente shows outstanding leadership in the shaping of opinion on the challenges facing Spanish society. The Foundation has been the creator and promoter of very significant institutions of civic society: CEOMA - The Spanish Confederation of Senior Citizens' Organisations - founded in 1997 with the aim of encouraging the grouping together of senior citizens' associations into a powerful lobby to defend the ideals and interests of them all; in 2006, ARHOE -The Association for the Rationalisation of Spanish Working Hours - to increase and enhance the general public's quality of life, as well as the reconciliation of personal and professional life, effective and genuine equality between men and women, and the improvement of productivity and efficiency for businesses; and, more recently, the Asociación Sociedad Civil Ahora (Civil Society Now Association), born with the intention of integrating a wide group of civil thought and action organisations and institutions in public life around a common improvement and renewal project for Spain, in loyal and committed collaboration with the public authorities and the the principal political forces of our nation and society as a whole. Fundación Independiente also awards the "Fundación Independiente" Camilo José Cela Journalism and Humanist Leader prizes, and organises National Public Meetings and Humanism and Business Workshops. READ MORE
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06/02/2019Iberdrola and Nike go global with new green energy partnership Iberdrola and Nike have agreed their third clean energy power purchase agreement (PPA) in three years, setting their sights on Europe for the first time. The new PPA will build on the success of previous agreements between the two companies in the US. In total, on both sides of the Atlantic, the global sporting brand now benefits from the supply of over 200 megawatts (MW) of renewable wind power. The new agreement will see Nike facilities in Europe supplied by 40 MW of clean electricity from the Cavar wind complex in Navarra, northern Spain. Iberdrola, the world´s leading wind power company, will soon start construction on the complex which will see four projects completed by 2020 with an overall capacity of 111 MW. “All athletes need fresh air and clean water to thrive. Delivering on our sustainability commitments, like working towards 100% renewable energy across our owned and operated facilities worldwide, is just one of the ways we protect the future of sport,” said Noel Kinder, Nike Chief Sustainability Officer. In 2018, we announced that we had contracted for 100% renewable energy in North America, and this latest agreement means we will be operating on 100% renewable energy across Europe by 2020. This means we are delivering against more than 75% of our worldwide goal. In the US, the deals between Nike and Avangrid Renewables (a subsidiary of Iberdrola) include 100 MW of wind power supplied from the Karankawa Wind Farm (Texas). Additionally, a service for Nike’s Global HQ in Oregon delivers renewable supply from the nearby Leaning Juniper and Juniper Canyon wind facilities, with an equivalent capacity of 69 MW. This capacity will enable Nike to source 100 percent renewable energy across their owned or operated facilities in North America. Commenting on the agreement, Xabier Viteri, Director of Renewables at Iberdrola said: “Large businesses with a focus on sustainability are showing that they can be a positive force in tackling climate change. More and more we are seeing companies set themselves tough carbon reduction goals, and Nike is showing leadership in taking action to deliver on those goals.” Viteri added: “The additional renewable energy that we are building to secure PPA agreements not only directly benefits the sustainable partners we are working with, it also benefits wider communities by increasing the amount of emission-free electricity being generated. There is a strong market in Europe for renewable PPA deals, and we anticipate securing further agreements in a number of countries in the months ahead.” Iberdrola is utilising its experience of managing PPA relationships with global companies in the US and Mexico, where it has agreements covering over 6,000 MW of renewable energy, by transferring the concept to Europe, where the market for such deals is still in its infancy. The company has also recently entered in to three separate PPA deals relating to the Nuñez de Balboa solar installation, set to be Europe’s biggest solar plant, with a capacity of 500 MWDC (nominal power). Iberdrola has secured long-term green power deals with Euskaltel, Kutxabank and Uvesco, firsts for the banking, telecoms and distribution sectors in Spain. READ MORE
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01/02/2019Iberdrola offers over 75 scholarships and research grants in five countries Iberdrola has launched two new calls for applications for scholarships and research grants for the 2019-2020 academic year, with the goal of promoting excellence in training the upcoming generations and employability with the company in strategic areas such as renewable energy, which will play a key role in fighting climate change. This year, the company plans to award a total of 75 grants to Spanish, British, American, Mexican and Brazilian students, for which it will earmark around 2.5 million euros. To date, thanks to Iberdrola’s firm commitment to education, more than 850 young people have studied on master’s and postgraduate courses and carried out research at prestigious international universities. In this latest call, Iberdrola is offering a total of 55 scholarships for master’s degrees to graduates and final year students in Spain, the United Kingdom, the United States, Mexico and Brazil, for an investment of over €2 million. Through this initiative, Iberdrola wants to promote the professional qualification of young people in areas of knowledge such as engineering, smart grids, electric vehicles, renewable energies, sustainability, energy storage, computing, information technologies, big data and cybersecurity. The enrolment process for this new call for applications opens today and will remain open until 29 March. Interested parties can learn about the conditions and fill in the application form on Iberdrola's corporate website (https://www.iberdrola.com/home ) in the People and Talent section. To select the candidates, in addition to their academic record and languages, other factors, such as their curriculum vitae, the interest of their research project and reference letters, will be taken into account. After passing the pre-selection stage, the company will conduct a personal interview with the candidates in order to evaluate their personal situation, overall education and motivation. An additional incentive of Iberdrola's call for scholarships is the possibility of undertaking an internship with the company. Scholarships for Master's Studies in Spain Iberdrola plans to award 20 new scholarships to Spanish students or residents for master’s degrees in Spain, the United Kingdom or the United States during the 2019-2020 academic year. Those who are selected will be able to study at top class universities, both national and international, including Universidad Pontificia de Comillas, Universidad Carlos III de Madrid, Universidad Politécnica de Madrid, Universidad del País Vasco, Universidad Politécnica de Valencia, Universidad de Salamanca, Universidad de Zaragoza, University of Connecticut, University of Edinburgh, University of Stratchclyde and University of Rochester. The scholarship will cover the cost of tuition and an additional annual grant for transport and accommodation expenses worth between €10,800 and €24,000 will be awarded, depending on whether the master’s course is in Spain, the United Kingdom or the United States. In the latter of these countries, a travel scholarship of €1,500 will be added to cover the cost of a round-trip transatlantic flight. Scholarships for Master's Studies in the United Kingdom As part of its International Scholarship Programme, Iberdrola also offers a total of 14 scholarships in Britain to students who are British citizens or residents for the 2019-2020 academic year. In this call, applicants will be able to study at prestigious British centres such as the University of Edinburgh; Heriot-Watt University; Strathclyde University; Glasgow University; Glasgow Caledonian University; Liverpool University; Liverpool John Moores University; Bangor University; Wrexham Glyndwr University and the University of East Anglia. The scholarship will cover the cost of tuition and will award £14,400 per year to cover expenses. Scholarships for Master's Studies in the United States Iberdrola plans to award 10 new scholarships for master’s degrees in the United States during the 2019-2020 academic year. These grants are intended for students who are United States citizens or residents. The candidates selected for these grants will be able to complete their formation in such prestigious educational centres as: Binghamton University; Clarkson University; Cornell University; Fairfield University; Massachusetts Institute of Technology (MIT); Oregon Institute of Technology; Oregon State University; Rochester Institute of Technology; Tufts University; University of Buffalo; University of Connecticut; University of Maine; University of Massachusetts; University of Oregon; University of Rochester; Worcester Polytechnic Institute and Yale University. The scholarship will cover the cost of tuition and will provide US$1,200 per month for the months the master's degree is being studied. Scholarships for Master's Studies in Mexico Iberdrola is also offering six scholarships to students who are Mexican citizens or residents to cover postgraduate studies in Mexico for the period 2019-2020. These scholarships, which were awarded in last year's call, are valid for two academic years. Those selected in 2018 have had the opportunity to carry out their studies in seven campuses of excellence: Instituto Tecnológico y de Estudios Superiores de Monterrey; Instituto Tecnológico Autónomo de México; Instituto de Estudios Superiores de Tamaulipas; Universidad Panamericana; Universidad de Anáhuac; Universidad Humanitas and Universidad Iberoamericana. The scholarship covers the cost of tuition and includes up to 25,000 pesos per month for living expenses, transportation and accommodation, depending on the place of residence of the selected student and the location of the master's degree. Scholarships for Master's Studies in Brazil As part of its International Scholarship Programme, Iberdrola also offers a total of five scholarships to students who are Brazilian citizens or residents for postgraduate studies in Spain or the United Kingdom for the 2019-2020 academic year. Those who are selected will be able to study either in Spain -Universidad Carlos III de Madrid,Universidad de Zaragoza,Universidad del País Vasco,Universidad Politécnica de Madrid,Universidad Politécnica de Valencia or Universidad Pontificia de Comillas or in the United Kingdom: Imperial College in London, Cambridge University, University of East Anglia, University of Edinburgh, Glasgow University, Liverpool University and Strathclyde University. In addition to the tuition and assistance with the airfare, the scholarship will provide 18,960 reais per year to cover transport and accommodation costs in the United Kingdom and 10,800 reais per year in the case of Spain. Research grants in Spain In addition, this year Fundación Iberdrola España will support up to 20 research projects at research centres or universities in Spain. The enrolment process for this new call for applications opens today and will remain open until 29 March. Interested parties can learn about the conditions and fill in the application form on the Fundación Iberdrola España website. With these grants, the company is seeking to promote research in areas related with energy and environmental sustainability. A new feature for this academic year is innovation in access to modern forms of energy and the fight against climate change to overcome poverty and promote human development. Applicants will have to be assessed by the team and by the centre where the research is to be conducted. Each grant will be worth a maximum of €20,000 per project and will last for one year. This initiative is based on Iberdrola’s commitment to strengthening ties between private enterprise and the research community, as well as its support for technological development with a view to tackling the energy transition. Iberdrola-Fulbright and Fundación Carolina scholarships In addition to the calls already mentioned, Fundación Iberdrola España is collaborating with the scholarships from other institutions. For example, the Fulbright Commission has once again announced the Iberdrola-Fulbright scholarship for the 2020-2021 academic year as part of its international academic offering. Students wishing to apply can read about all the conditions that apply to the call and submit their applications via the www.fulbright.es website before 11 April. Again with the support of Fundación Iberdrola España, the Fundación Carolina will be granting 14 scholarships for master’s level studies in areas linked to energy and environment at Spanish universities. These scholarships are aimed at students from Mexico and Brazil. Those wishing to apply can read about all the conditions that apply to the call and submit their applications via the www.fundacioncarolina.es website by 7 March. The Scholarship Programme also includes grants for training and research at the Prado Museum in Madrid and the Museum of Fine Arts in Bilbao. These grants will enable future experts to complete their training at the highest possible level by taking part in the conservation and restoration schemes run by these institutions. As part of its commitment to the territories where it has operations, Iberdrola supports the creation and sharing of knowledge in order to help train a generation of highly-skilled professionals and find them their first job. With its International Scholarship Programme and Research Grants, Iberdrola is contributing to reaching the UN Sustainable Development Goals (SDG) for 2030, which are included in its company strategy. With these grants, the company is focusing its efforts on meeting goals number 13 (climate action), 7 (affordable and clean energy) and quality education (goal 4). About Iberdrola 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 is present in numerous countries and supplies energy to over 100 million people mainly in Spain, the United Kingdom (Scottish Power), the USA (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 and assets in excess of €110 billion, it posted revenues of over €31.263 billion and a net profit of €2.804 billion in 2017. Iberdrola is 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 its customers. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for sustainability. READ MORE
