News
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26/05/2020“European policy is linked to the Green Deal, digitalization and re industrialization” Iberdrola group chairman Ignacio Galán talked to television channel Telecinco about the Economic Recovery Package to be submitted to the European Parliament on 27 May. A new step forward that the executive considers “tremendously coherent” with the strategy followed by the Commission for some time now, which advocates for transforming our economy into something far more sustainable by investing in renewable energies, reducing the requirement to buy in energy from outside and creating jobs and technology along the way. In Europe we have an amazing opportunity to transform our productive sector and make it more efficient, competitive and cleaner. That’s why the European Commission wants to steer resources in this direction Galán also said that the COVID-19 crisis has shown that it is possible to “live without noise and pollution” and to improve quality of life in big cities”. He added that citizens are crying out for an electrification of transport and climate control systems to reduce greenhouse gas emissions. The chairman of Iberdrola pointed out that the company intends to invest around 100 bn euros this year and has placed advance orders with suppliers worth 400 bn euros to stimulate the economy. “Our investments in clean energies and smarter, efficient networks will bring the cost of energy down”, he added. READ MORE
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24/05/2020"If we accelerate clean energy provision we could create 300,000 jobs immediately" In an interview with national newspaper El País on Sunday 24 May as part of its Jobs and the Crisis series, Iberdrola group chairman Ignacio Galán explained that “we will emerge from this crisis greener or not at all”, an opinion shared by all European Union and United Nations leaders and participants in the forums in which he has taken part. Galán says he is sure that if the National Energy and Climate Plan (PNIEC) scheduled for 2030 is brought forward, it will change a set of rules that will speed up red tape and make way for the creation of 300,000 jobs, which would be a lifeline to emerge from the crisis. Another key area is investment. “We need to invest and invest wisely to emerge from the crisis”, he said. Galán believes that “unnecessary spending impoverishes and wise investment creates wealth, a future and jobs”. But to achieve this, “we need to do everything within our power to attract investment by providing a stable, predictable legal framework”. When it comes to the crisis caused by the pandemic, Galán says that he feels “tremendously proud of the way that the Iberdrola team has behaved”, by guaranteeing power, purchasing medical supplies to meet existing needs, etc., all while safeguarding highly vulnerable people. To counteract the financial impact of the pandemic, Iberdrola has brought forward orders for 4.2 billion euros, speeding up investment and committing to hiring 5,000 people this year. What’s more, he says, “with around 150 health measures, isolation, shift work, etc. our rate of infection is ten times lower than the average in the countries where we operate". READ MORE
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22/05/2020Iberdrola supports people in need by giving out 90,000 meals in Madrid and Biscay Through the Iberdrola Spain Foundation, Iberdrola is acting on its commitment to mitigate the impact of the COVID-19 crisis by launching an initiative to cook 90,000 meals for charity — 1000 meals for 90 consecutive days — to feed the needy in Madrid and Biscay. The coronavirus crisis has raised unemployment in the first quarter of the year to the highest figures since 2013, leaving 1.1 million families in need[1]. This situation has tripled the demand for food in some soup kitchens and parishes which were already supporting families at risk of social exclusion and poverty. These meals involve an overall cost of €600,000 and will be shared out by the Iberdrola Spain Foundation after being cooked by Iberdrola’s usual catering service – hired by the provider Sodexo –, who will be working inside the company’s kitchens at the Larraskitu complex in Biscay and on the training and innovation campus in San Agustín de Guadalix, near Madrid. The coronavirus crisis had closed these kitchens, but this charity initiative has also meant employment for 16 professionals from the catering service company who had been temporarily laid off. Sodexo will rely on its team of nutritionists to ensure the meals are varied and healthy, exactly as it does for Iberdrola. The Company plans to deliver 300 meals a day to Cáritas Biscay and 700 to the San Ramón Nonato Parish in the Madrid area of Puente de Vallecas, which takes care of coordinating five soup kitchens. Once the initiative is underway, the number of meals for each area will be adjusted as needed. Committed to mitigating the effects of the pandemic The Iberdrola Spain Foundation is currently working on over 40 social projects with an allocated budget of €1.2 million, their core objective being to help the most vulnerable people. These projects have not stopped during the health crisis, now ensuring that social distancing and hygiene measures are strictly followed. In this way, the Foundation contributes to Iberdrola Group’s social commitment , which, through various subsidiaries all around the world, is setting aside millions of euros to buy sanitary equipment and share it out among different organisations. This equipment, which is purchased in coordination with the government authorities and under their supervision, includes ventilators, medical suits and face masks. Plus, Iberdrola is implementing over 150 measures to contain the spread of the pandemic and ensure there is no shortage of electricity at any time. [1] According to data from the EPA (Active Population Survey), revealed in late April. READ MORE
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18/05/2020Iberdrola’s direct tax contribution in the world amounted to almost €8.16 billion last year, €217 million more than in 2018 The Iberdrola group’s direct tax contribution around the world amounted to almost €8.16 billion last year, €217 million more than in 2018, according to data in the 2019 Report on tax transparency: Our commitment to society , which was prepared for the second time by the company and contained detailed information never previously released by an IBEX 35 company. This worldwide figure includes the taxes it paid and those collected by the group. The amount is similar to the almost €8.16 billion for all the investments Iberdrola made last year, which is a record for the company. The report shows that the company allocated a full 43% of its pre-tax profit to paying taxes. It should be noted that the corporate tax paid by Iberdrola worldwide amounted to €797 million, a figure that represents 17% of its pre-tax profit, but only 27% of all the company’s own taxes in 2019. In connection with the preparation of the above-mentioned report, Iberdrola’s Chairman and CEO, Ignacio Galán, said: “the group is fully aware of its essential contribution to supporting public expenditure and seeks to turn its contribution to public finances into responsible taxation through measures such as making reasonable decisions, enhanced cooperation with the tax authorities and transparency in tax information to third parties.” By issuing this information, Iberdrola wants to highlight the significant tax contribution made by the group worldwide and especially in Spain, where issues relating to energy taxes and corporate tax are very important. In fact, and according to the data in the report, Spain was the country to which the company contributed the most, with 43.3% of the total (€3.53 billion of the total of €8.16 billion), followed in the ranking by Brazil (€2.57 billion, 31.5 %). Behind them were the United States (€963 million), the United Kingdom (€639 million), Mexico (€258 million) and the rest of the countries (€197 million). The report shows that, in Spain, Iberdrola allocated a full 50% of its pre-tax profit to paying taxes. Other items include energy taxes (€729 million) and corporate tax (€367 million), as well as local taxes (€256 million) and salary-related corporate contributions (€139 million). Unprecedented level of detailed information It should also be noted that the report Fiscal Transparency 2019: Our Commitment to Society contains two important new features compared to the first one: * It incorporates information provided voluntarily relating to the distribution of profits, taxes and economic activities by tax jurisdiction from the Iberdrola group’s 2019 Country-by-Country report, making the same information available to the company in general that is provided to tax administrations (see details from Page 24 onwards). * Another strength is that it has become the first Spanish company to obtain the AENOR certificate for its Tax Compliance Management System in accordance with the requirements established in the UNE 19602 standard (see details on Page 23). READ MORE
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15/05/2020Iberdrola's 500 + customer service points in Spain are reopening This week has seen the start of the reopening of Iberdrola's customer service points in Spain, which is where a good many of the company’s more than 10 million customers, be they domestic, SME or corporate, can go to receive face-to-face attention. The services provided by these offices were suspended when the state of emergency was declared. However, as of Monday almost 300 of them have restarted their face-to-face activity and are now operating normally while more than 200 will be doing so within a few days. Over the past two months the company has strengthened the services it provides via its digital and phone channels in order to continue advising its customers and attending to their needs. The customer service points in every one of Spain’s autonomous regions have been equipped with all the hygiene and protection measures, including the installation of signage and plexiglass screens to ensure public safety and two metres of interpersonal distancing. Likewise, all members of staff will wear personal protection equipment (PPE). Furthermore, the offices have adopted a limited capacity policy. In those areas of the country still in phase 0 of the de-escalation process appointments will have to be previously arranged. This is not the case in all the other regions, with customers being able to receive attention throughout business hours. The locations and details of these offices can be found on Iberdrola's customer website www.iberdrola.es Helping our customers tackle the crisis Over the last two months Iberdrola has taken over 100 measures aimed at keeping its services available to its 100 million + customers worldwide. These include the provision of essential health materials, strengthening the vital infrastructures of the energy supply system and meeting the needs of its most vulnerable customers. The company, which had already suspended power supply cuts due to unpaid bills prior to the declaration of the state of emergency, launched an initiative that makes it easier for its more than 10 million customers in Spain, be they domestic, self-employed or SMEs to pay their electricity, gas and other energy supply bills. This has flexibilised bill payment by enabling partial payments over up to 12 months and free of charge. This plan has been complemented with other actions. One of these targets the company's two million customers over the age of 65, who are being provided with a free electrical emergencies service throughout the state of emergency. Iberdrola has likewise implemented an advisory plan designed to help its customers to adapt their rate to the new ways in which they are consuming energy during the current situation and has enhanced its digital and phone channels. READ MORE
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13/05/2020Ignacio Galán attended a virtual meeting with Iberdrola’s 9,000-strong workforce in Spain: “We’ll emerge from this crisis by investing in sectors with a future, like ours” Iberdrola’s chairman, Ignacio Galán, met remotely this morning with almost all the company's nearly 9,000 employees in Spain to talk the company's performance and its plans for the future. He also answered more than 200 questions, which had been received electronically and previously classified into subjects. The one-hour meeting was streamed via Iberdrola’s employee Intranet and had a huge audience, with almost 100 % of the company’s Spanish workforce tuning in to watch at some point during the proceedings. The chairman thanked his staff for their hard work and dedication, particularly during the pandemic in the last two months, and encouraged everyone to keep working diligently: “We are the best company in the best sector”, he said. Galán explained that Iberdrola will press on with its growth plans, investing 10bn euros this year alone, followed by similar sums in the years to come. “Our investments will create business and jobs for the 40,000 people who work for the group and also for the 400,000 who work for us through our suppliers’ companies”. Galán showed his conviction that, “rather than holding us back, the crisis will speed up the energy transition”, mentioning that European and Spanish institutions agree that “we will emerge from the crisis green or not at all” and that this is an excellent opportunity for Europe to lead that change. Iberdrola beats everyone else off the pitch: “Investing in sectors with a future is a way out of this crisis and we have the technological and financial capacity to keep driving the decarbonisation of the economy”. The strength of Iberdrola's business model has once again become apparent in this difficult market environment: “Because of our diversified model we are a haven for investors, making us one of the two best-performing companies on the Ibex-35 during the crisis.” Ignacio Galán also commented that more than half of Iberdrola’s staff in Spain (around 4,500 employees) have had COVID-19 serological tests and the rate of infection detected in the group, which operates in some of the most severely affected countries, is clearly better than average. In any case, he explained, “we must not let our guard down with this virus” and we must keep taking “all the necessary measures”. Iberdrola’s chairman is planning to take part in similar virtual meetings in the near future with employees in the other countries where the company has a presence. READ MORE
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12/05/2020Iberdrola buys two onshore wind projects in Scotland from 3R Energy and Mitchell Energy, which will involve an investment of almost 190 million euros Iberdrola has finalised the purchase of two onshore wind projects in Scotland, with a combined 165-megawatt (MW) capacity and which will involve an investment of around 190 million euros, from individual local shareholders 3R Energy and Mitchell Energy. The two renewable developments acquired by lberdrola are located in South Lanarkshire, about 20 miles south of Glasgow. One of these is a project involving the construction of a 100-MW wind farm: 20 turbines with 5 MW capacity each and a maximum height of 200 metres. In the other, the company will be able to upgrade the first non-experimental wind farm developed in Scotland, some 25 years ago: Hagshaw Hill. The upgrade will increase the facility's operating capacity from 42 MW to 65 MW. Thanks to this transaction, Iberdrola's subsidiary in the United Kingdom, ScottishPower, will be able to develop its third largest wind farm in the country, which will have a capacity of 220 MW, given that the 165 MW now acquired will be augmented with 55 MW from another nearby park that it was already developing and that is now being reactivated. This complex, which will require an overall investment of about 250 million euros, will be able to supply green energy to almost 135,000 households. The company led by Ignacio Galán, which will make a record investment of 10 billion euros this year to boost the green recovery, is thus undertaking its third corporate operation since the start of the health crisis. In the wake of this purchase, Galán noted that "as we overcome the coronavirus crisis, investment in clean infrastructure, which creates jobs and whose delivery times are short, offers immediate economic and environmental benefits, which will support the UK's recovery at this critical time". The Iberdrola chairman went on to say that "globally, it is essential that the recovery is in line with climate objectives. As today's announcement demonstrates, companies like ours remain committed to investing in clean energy in order to foster quality employment and drive the energy transition". Iberdrola's new onshore wind farm will be the third largest in the United Kingdom, behind those already operating in Whitelee (539 MW) and Kilgallioch (239 MW). This operation allows ScottishPower to continue strengthening its position as the UK's leading 100 % renewable integrated energy company and the group to continue contributing to the UK's ambitious decarbonisation goals. Third renewable corporate transaction in two months Iberdrola Group is thus undertaking a third purchase in the European renewable energy sector in two months and the second in just one week. Last Wednesday, it notified the Spanish National Securities Commission (CNMV) of the acquisition of the French company Aalto Power for just over 100 million euros. Founded in 2005 and headquartered in Marseille, Aalto Power provides Iberdrola with 118 MW of onshore wind farms operating in France and a portfolio of onshore wind farm projects in that country in different stages of development that adds another 636 MW. The integration of Aalto Power, owned until a few days ago by Aiolos and Caisse des Dépôts et Consignations, reinforces the company's growth plans in renewable generation in France, thanks to the projects the company has and its team of professionals. Then, on 9 March, Iberdrola acquired 100 % of the capital of the Saint-Brieuc offshore wind farm in France, which will involve an investment of approximately 2.5 billion euros. The 496 MW capacity at this complex, which will begin construction in 2021, will come into operation in 2023, generating enough clean energy to supply 835,000 people. Located in Brittany, about 16 kilometres off the coast, the Saint-Brieuc wind farm will feature 62 Siemens Gamesa turbines of 8 MW each, which will extend over an area of 75 square kilometres. The wind turbines will have a total height of 207 metres. READ MORE
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08/05/2020Iberdrola keeps its promise: the company is donating part of the expenses that would have been incurred during the holding of its Shareholder’s Day to Osakidetza-The Basque Health Service During his closing speech at the General Shareholders’ Meeting, held entirely remotely on 2 April, Iberdrola Group Chairman Ignacio Galán promised that “the amount set aside to be spent on the traditional aperitif we serve every year at the end of the Meeting, in the Euskalduna Palace, will be allocated to the acquisition of healthcare equipment for Osakidetza-The Basque Health Service”. No sooner said than done: Iberdrola diverted the amount the culinary event in question usually costs into purchasing a total of 1,702,000 pairs of disposable surgeon’s gloves, which it put at the disposal of this entity that is run by the Basque Country Regional Government. The company performed this action in compliance with the technical guidelines issued by this Regional Government entity. Throughout the health crisis Iberdrola has once again shown itself to be firmly committed to the Basque Region, where it started out and still has its head offices. The company has, to date, donated 150,000 euros to the Basque Country Regional Government for the purchase of healthcare equipment: nitrile gloves, disposable coveralls, face masks, protective eyewear, half masks, hydroalcoholic gel, gowns and sleeve protectors. This action forms part of the Iberdrola's global integrated plan for combating coronavirus , which benefits: * Employees: by safeguarding jobs, with 5,000 new posts anticipated for 2020; strengthening safety and protection measures for field personnel and enabling 95% of office staff to work from home, thanks to the investments made in digitisation. * Suppliers and industrial structure: by increasing our investments for the quarter by 24%, taking them to 1.729 billion euros, and by speeding up the contract awards made to our suppliers, which came to 3.8 billion euros between January and March, in order to ensure they continue to have their essential “pull” effect. * Society: by shoring up the supply of electricity, which is primordial under the current circumstances, especially for essential infrastructure such as hospitals; offering payment facilities to its customers and free services to vulnerable groups in close collaboration with the authorities; and donating 30 million euros worth of urgently needed medical supplies. READ MORE
