News
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11/12/2020Ignacio Galán wins the award for Financial Personality of the Year for his key role in the international growth of Iberdrola Iberdrola group Chairman, Ignacio Galán, has been awarded the Alfonso de Salas prize for Financial Personality of the Year for his key role at the helm of the company. This prize is the most prestigious of those awarded annually by the Spanish newspaper El Economista to recognise the work of the top business people and Spanish companies during the year. Galán received the award from the third vice-president of the Spanish Government and Minister of Economic Affairs and the Digital Transformation, Nadia Calviño, for his contribution to the international growth of Iberdrola, which has become a key player in the energy market at global level. In addition, the stock market value of the company has increased five-fold, with a focus on sustainability. During the presentation ceremony for these awards, held in Madrid, Ignacio Galán highlighted the business vision of the company: “The 40,000 Iberdrola staff carry out their work with the aim of creating value for society and for the shareholders. This is the mission that we companies have, and it is the source of our decision to use our earnings to undertake a €75bn investment programme”. READ MORE
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10/12/2020We are at the dawn of the key era for addressing climate change In an opinion piece published by leading newspaper El País , the chairman of Iberdrola group, Ignacio Galán, calls on governments to be more ambitious when setting their climate targets for 2030 to keep global warming to below 1.5ºC: We cannot just set our sights on 2050 or wait until 2030. Everyone has to act right now, with real, measurable actions”. To mark the fifth anniversary of the Paris Agreement, which was approved on 12 December 2015, the chairman underlined the importance of this “historic milestone” which represented the “unanimous acknowledgement of global warming” as “one the greatest threats to humankind”, but above all, was a scenario of “unprecedented commitment”. A total of 195 countries agreed to keep the increase in global temperatures to below 2ºC and to reach peak emissions as soon as possible. To do so, the countries of the world committed to spending the necessary funds and promoting innovation and technology transfer to provide an efficient response to the challenge. According to Galán, this approach involved, “generating a real paradigm shift in the energy industry towards a sustainable model “, where production using polluting sources would be replaced by clean generation and the electrification of the economy would be intensified as the fastest, most efficient way to achieve decarbonisation”. The last five years have seen some important progress in this direction. More and more investment institutions and markets are making sustainability and climate action an essential factor in their decision-making processes. Companies are increasingly opting to invest in clean solutions, evaluating climate risk in their decision strategies, and measurably demonstrating their social and environmental commitment. Along with this trend, there has been a technological revolution in the sphere of clean energies, which have become more efficient and cheaper. Despite COVID-19, which has had a decisive impact on climate change negotiations, the chairman of Iberdrola believes that the current situation will make it possible to “speed up the decarbonisation of the global economy”. Governments all over the world are making green investment a top priority in stimulus packages to help with recovery, “aware that they are contributing to building more competitive, resilient and healthy economies”, explains”, Galán. “All this progress gives us room for optimism as we embark on a key decade. However, we must not delay, because the progress made in the last five years has not been enough to meet the targets”, he adds. The Iberdrola group chairman points out that the company foresaw the need to align its policies with the intentions of what would become the Paris Agreement more than 20 years ago: “And we are still speeding up”. Recently, the company presented a strategic plan in the run up to 2025 , which entails investments in clean energies, networks and storage to the tune of €75 billion. “The plan will enable us to grow our global workforce and put us on the path to carbon neutrality in Europe by as soon as 2030 - 20 years ahead of the target set by the European Union”, said Galán. READ MORE
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10/12/2020Iberdrola to supply green hydrogen for buses in Barcelona in 2021 Transports Metropolitans de Barcelona (TMB) has chosen Iberdrola’s bid to supply hydrogen from renewable sources to power its fleet of city buses from 2021. The project's goal is to take steps to provide urban transport with zero contaminating emissions. To do this, the company will build and operate a hydrogen plant on a 5,000-square-metre plot on the Zona Franca industrial area, leased from the Consorcio de la Zona Franca, which the TMB buses equipped with this technology will use. There is also potential to introduce the same technology into any other vehicle fleets and industries on the industrial estate that opt for green hydrogen to meet their energy needs. The service contract has a duration of ten years. The hydrogen plant in the Zona Franca will be the first public facility of its type in Spain, and it will distribute renewable hydrogen produced by electrolysis. This will foster the creation of a green hydrogen hub in one of Catalonia and Spain's leading industrial areas. By winning this contract, Iberdrola has cemented its leadership in the field of sustainable urban mobility, where it is already a pioneer in electrical charging. It will now spearhead the supply of clean green hydrogen for use in the heavy transport industry. At the same time, TMB has purchased eight buses with state-of-the-art hydrogen technology, which will be delivered to Barcelona in November 2021, with the intention of putting them into service in early 2022. The vehicles will be assigned to the company's Operations Centre in the Zona Franca and will be supplied with vehicular hydrogen from the charging plant on the industrial estate, with an estimated consumption of 160 kg per day. This figure will increase from year to year as more buses with this technology join the fleet, until a total of 60 is reached. The adoption of hydrogen by TMB is supported by the European JIVE 2 programme to promote hydrogen fuel cell vehicles that produce zero emissions, which is jointly funded by the European Union. The project is being managed in collaboration with Barcelona's Metropolitan Transport Authority (ATM). The choice of hydrogen reflects TMB's strategic investment in green energies. In February, it ordered 23 articulated electric vehicles with batteries suitable for rapid charging in the street, making progress in its work to convert lines H16, H12 and V15 into zero emissions routes. Iberdrola, a leader in green hydrogen for the technology and industrial sectors Iberdrola has become a pioneer in a new technological challenge: green hydrogen production. The company, in alliance with Fertiberia, is making progress with this ambitious project to make Spain an industrial leader in this sector, with a target of 800 MW of green hydrogen and an investment of €1.8 billion euros over the next six years. This innovative initiative will commence with the commissioning of Europe's largest green hydrogen complex for industrial use in Europe, which will be operational within a year. The company is aiming to transform Spain into a technological and industrial benchmark in the area of green hydrogen, Iberdrola has reached an agreement with the world's leading electrolyser manufacturer, Nel, to make large-scale electrolysers and promote the value chain of this technology in our country. In addition to this, and to carry out the project, Iberdrola and Basque company Ingeteam have set up a company called Iberlyzer, which will become Spain's first mass manufacturer of electrolysers. READ MORE
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10/12/2020Iberdrola starts the process of developing its biggest photovoltaic plant in Castilla y León Iberdrola continues to lead in the roll-out of renewable projects, with the commencement of the proceedings for the project at Otero PV which, with an installed capacity of 505 MW, will become the biggest photovoltaic plant in Castilla y León and the second-largest in Europe, following the commissioning of the Núñez de Balboa PV (500 MW) and the Francisco Pizarro project (590 MW), which is at the start of the execution stage, also being developed by the company in Extremadura. The Otero photovoltaic plant will be built in the municipalities of Marazuela, Marazoleja and Anaya, in the province of Segovia, and represents an investment of nearly €220 million. Its construction will have the benefit of a significant local component, both from industrial suppliers and through the involvement, at peak work times, of up to 1,100 workers. For this development, the company has grouped together plots belonging to as many as 150 local owners, who will also benefit from the project. Once operational, the plant will generate enough clean energy to supply a population equivalent to 290,000 homes and will avoid the emission of 182,000 t CO2/year. World leader in clean energy in Castilla y León With the Otero PV, Iberdrola is reinforcing its leadership in Castilla y León, where it already manages 5,100 MW (hydro and wind), making this autonomous community the region in which the company has installed the most “green” megawatts. In the region the company is building three wind farms in Herrera consisting of the most powerful wind turbines installed in Spain and is also developing the Buniel wind power complex in Burgos, in partnership with the Caja Rural de Soria, as well as the Valdemoro wind farm, whose 164 MW of installed capacity make it one of the company’s and the nation’s largest facilities. The company’s photovoltaic commitment in the region is rounded off by another 800 MW in progress, split between Salamanca and Palencia, including the photovoltaic plants in Ciudad Rodrigo (300 MW), Velilla (400 MW), Revilla Vallejera, Ballestas and projects in Villarino. Iberdrola will be developing more than 2,400 MW in the region over the coming years in renewable projects - wind and photovoltaic - for which it will allocate investments in excess of €2 billion. This amount of resources will galvanise the industrial sector and create 24,000 jobs, according to estimates by the National Integrated Energy and Climate Plan (PNIEC). Green investments to promote the recovery of the economy and employment Iberdrola is convinced that the energy transition can act as a key vector in the transformation of the industrial fabric and the green recovery of the economy and employment. With this in mind, Iberdrola has launched a historic investment programme worth €75 billion for 2020-2025, with the aim of doubling its renewable capacity and taking advantage of the opportunities provided by the energy revolution that the world's major economies are facing. Investments in Spain for the period amount to nearly €14.3 billion, half of which - over €7 billion - will be earmarked for new renewable projects, while €4.5 billion will go towards fortifying and continuing to digitalise the electricity grids. After 20 years promoting the energy transition in Spain, Iberdrola leads in renewable energy in the country, with an installed renewable capacity exceeding 16,700 MW at September 2020 - an amount that rises to more than 33,000 MW worldwide, making its generation facilities among the cleanest in the energy sector. With CO2/kWh emissions already two-thirds below the European average, the investment strategy in networks and clean energy will make Iberdrola a “carbon neutral” company in Europe by 2030. READ MORE
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09/12/2020Iberdrola and the BNP Paribas Group revolutionise the rental market with an agreement to promote sustainable mobility in Spain Iberdrola and the BNP Paribas Group aspire to revolutionise the rental market in Spain and reinforce their sustainable mobility strategy in Spain. The companies have therefore reached an agreement that includes an innovative solution, called All-inclusive which is aimed at individuals and companies and includes rental of electric vehicles through Arval, the installation of the charging point financed by BNP Paribas Leasing Solutions and energy consumption at home and on public roads for the contracted kilometres supplied by Iberdrola in a single package. This is a response to one of the segments with the greatest potential for growth in the coming years: fleet electrification associated with online commerce distribution. The collaboration between the companies will be extended to other areas and will enable the energy company to install charging infrastructure in several offices of the BNP Paribas Group in Spain. The financial institution's customers and employees will therefore be able to charge their electric vehicles with 100% green energy from clean generation sources, with guarantee of renewable origin certificates. Under the agreement, Iberdrola and BNP Paribas Real Estate will also promote charging points among the main real estate operators and shopping centres. The collaboration also includes the design and launch of financing solutions by BNP Paribas, through its leasing and consumer loan subsidiaries, for Iberdrola customers in Spain and other European countries where BNP Paribas operates and the energy company with sustainable mobility (Smart Mobility) and self-consumption (Smart Solar) solutions, including Portugal, Italy and France. "The agreement shows the ambition of both groups to continue promoting transport electrification and confirms the need to continue collaborating with all agents in the sector to respond to the challenges of mobility based on clean energy with no CO2 emissions. Together with BNP Paribas, Iberdrola has also designed a comprehensive and unique proposal that meets the needs of one of the fastest growing segments in the field of transport electrification: fleets for last-mile delivery of online purchases," explains Raquel Blanco, Iberdrola's Global Director of Smart Mobility. Alberto Sarricolea, Head of Corporate Banking at BNP Paribas in Spain, says that "this agreement means making many of our capabilities (renting, leasing, real estate and consumer credit services) available to customers with whom the company has a close relationship, in Spain and abroad." This agreement also "fits perfectly with BNP Paribas' ambitions in terms of sustainability," he added. The electric charging points installed by Iberdrola under this agreement will be available on the 'Recarga Pública Iberdrola' mobile App, the only App that includes verified information on all the electric vehicle charging stations operational in Spain, those of Iberdrola and those of other operators too. With this App, you can geolocate the charger and reserve and pay from your mobile. With this agreement, both companies reinforce their cooperation, as BNP Paribas group is one of Iberdrola's financial partners for corporate and investment banking activities and, through its subsidiary Arval, is the supplier of electric vehicles for the energy company's fleet. Electric mobility and green recovery Iberdrola continues its commitment to transport electrification in its transition strategy towards a decarbonised economy, as a key way of reducing emissions and pollution and ensuring the green recovery. The company is implementing a sustainable mobility plan with an investment of 150 million euros, resulting in an increased roll-out of charging points for electric vehicles over the coming years. The initiative will see the installation of around 150,000 charge points in homes, companies and on the public road network in cities as well as on the main motorways and highways over the next five years. The commitment to deploying high-efficiency charging points will include the company installing ultra-rapid (350 kW) charging points every 200 kilometres, super-rapid points (150 kW) every 100 kilometres, and rapid (50 kW) points every 50 kilometres. Iberdrola is aware of the need to boost electric mobility in Spain through coordinated, effective action involving the major players. The company continues to identify opportunities to generate an industrial, commercial and innovation ecosystem to consolidate the development of sustainable mobility. As a result, it has now completed more than 40 infrastructure roll-out agreements with government departments, institutions, companies, service stations and vehicle dealers and manufacturers. The company has recently become the first Spanish business to subscribe to The Climate Group's EV100 initiative, with the aim of accelerating the transition towards electric vehicles with a commitment to electrifying its entire fleet of vehicles , enabling staff to charge their vehicles at its outlets in Spain and the United Kingdom by 2030. READ MORE
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05/12/2020Iberdrola donates 50 respirators to the army to continue to battle against COVID-19 Iberdrola has provided the Spanish army with 50 respirators to ramp up their capacity to respond to the COVID-19 pandemic. This consignment of state-of-the-technology respirators - the Aeonmed VG70 (Intrusive Oxygen Ventilator) - will be used in hospitals classed as priority centres by the healthcare authorities. Since the outbreak of the pandemic, Iberdrola has purchased 400 respirators, more than 4 million masks, 242,000 protective coveralls and 30,000 pairs of protective goggles. This new consignment of medical supplies is part of a global initiative run by Iberdrola during the coronavirus health crisis, which includes procurement of essential medical equipment worth €40 million, harnessing its global access to supplies to benefit the government. Over 150 measures to combat Covid-19 The medical supplies and preventive equipment were purchased in coordination with the authorities as part of Iberdrola’s global response to the coronavirus, an effort which has protected employees, suppliers and the most vulnerable sectors of society. Iberdrola launched its action plan at the very start of the pandemic, implementing over 150 measures to secure suppliers in the countries where it operates and to meet the needs of the most vulnerable groups and customers. The actions the company carried out included strengthening the energy service in 350 hospitals and medical facilities during the state of alarm. Also, coinciding with the outbreak of coronavirus and in order to contribute to the recovery of the economy and employment, it decided to place advance orders to suppliers worth 4 billion euros in the first quarter of the year and raise its investments this year to 10 billion euros. Since the state of alarm was declared, Iberdrola has mobilised more than 2,000 volunteers in charitable initiatives in Spain. In a campaign entitled ‘Volunteers against Covid’, these kind-hearted people have taken part from their homes in 36 projects driven by 21 social organisations, that have reached over 12,000 people in vulnerable situations. Iberdrola has become the first business group to obtain global certification for itself and all its subsidiaries from AENOR for its COVID-19 action protocol. This certificate endorses its actions to deal with the coronavirus pandemic, guaranteeing both the health and safety of people and the maintenance and quality of the energy supply. READ MORE
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04/12/2020"Transforming the energy sector to use electricity is the most efficient way to decarbonise the economy" Iberdrola group chairman Ignacio Galán had a conversation with the vice-president of IHS Markit, Daniel Yergin, during which they talked about the company's commitment to clean energy and how it has been able to anticipate trends in recent decades. During the interview, Galán talked about Iberdrola's response to COVID-19, digitalisation, the company's acquisitions and the importance of environmental and social criteria and governance (ESG) as new key parameters for investors, among other issues. "Despite some scepticism, 20 years ago we foresaw the energy transition and invested in cleaner, reliable energy systems based on renewable energies, grids and storage," he explained. "There is now unanimous consensus regarding the urgent need to transform the energy sector towards efficient use of energy to decarbonise the economy," he said. Ignacio Galán added that electrification is essential for satisfying new demand from all sectors: electric vehicles, heating and cooling in buildings and industrial consumption, which need to change to electrify processes that currently rely on fossil fuels. Daniel Yergin is the president of CERAWeek and an expert in energy and global geopolitics who is interested in the development of green hydrogen as a new decarbonisation solution. "The production of all the hydrogen necessary for industrial processes using electrolysis will lead to an incremental demand for renewable energy.Green hydrogen is and will be essential in sectors where electricity-based solutions are not technically viable, such as steel, glass, ammonia-based fertilisers and heavy transport," he explained during the conversation with Galán. READ MORE
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04/12/2020Iberdrola steps up its commitment to Brazil with the acquisition of the Brasilia distributor for €400m. Neoenergia, through its subsidiary Bahia Geração de Energia, has been declared the winner of the auction held this morning - in international competition - for the privatisation of the electricity distributor CEB Distribuição, following the presentation of an offer amounting to R$2,515,000,000 (€399 m), for 100% of the company. CEB-D is the electricity distributor for the Federal District of the country's capital, Brasilia, and supplies electricity to a population of 3 million. In 2019, the company had 1.1 million consumers and supplied a total of 6,577 GWh. The concession that CEB Distribuição owns runs until 2045, guaranteeing 25 years of regulated activity with stable and predictable incomes. The acquisition of CEB-D represents yet another step in Neoenergia's expansion plan in the Brazilian energy sector and is in line with Iberdrola's investment focus, centring on regulated businesses and renewable energy with big growth potential in countries that offer legal and regulatory stability. Commitment to Brazil Iberdrola, through its subsidiary Neoenergia, continues to step up its commitment to Brazil, where it already manages a 640,417km distribution network covering a population of 34 million. Neoenergia also has over 3,500 renewable megawatts (MW) in operation and provides electricity to 14.1 million customers. The combination of Neoenergia and CEB-D will cover an area of over 840,800 km2 and will serve 15.3 million customers - 7.7% more than the number managed hitherto by Iberdrola's Brazilian subsidiary. Neoenergia's Regulated Asset Base (RAB) would amount to 19.487 bn reales for 2019. The settlement of the auction, as well as the culmination of the acquisition of CEB-D shares through the execution of a share sales/purchase agreement, are subject to the Tender Committee's approval of the auction result, following approval from the Economic Defence Administration (CADE) and the consent of the National Energy Agency (ANEEL). The acquisition of CEB-D shares is likewise subject to approval from Neoenergia's shareholders. The operation is expected to be finalised in the first quarter of 2021. Iberdrola is forecasting investments of €75 bn in the run up to 2025 with a significant focus on distribution networks, an activity into which it will channel €27 bn. New corporate operations in 2020 This acquisition takes Iberdrola's new corporate operations for this year to nine, despite the challenges of COVID-19: * In October, purchase agreement for the American company PNM Resources, worth €7 bn. * In September, the group, chaired by Ignacio Galán, announced its foray into the Japanese market with the purchase of the developer Acacia Renewables, with a 3.3 GW portfolio of offshore projects. * In September, the company announced the acquisition of a 400 MW capacity portfolio of wind power projects in Brazil. * Acquisition of the Australian renewable energy firm Infigen Energy, following the launch of a friendly takeover bid in June. The operation allows Iberdrola to become one of the leading operators in the Australian market for renewable energy with 670 MW of wind power operational and a 1 GW portfolio of wind and solar projects at various stages of development. * On 22 June, the company agreed a deal with Swedish company Svea Vind Offshore AB (SVO) for a 9 gigawatts (GW) majority holding in the future development of the largest offshore wind production portfolio in Sweden. * On 12 May, it announced the purchase of two onshore wind projects in Scotland totalling 165 MW of capacity, the development of which will involve an investment of some €190 m. * On 6 May, Iberdrola reported the acquisition of the French company Aalto Power for just over €100 m. The company has 118 MW of onshore wind already operational and a portfolio of projects totalling 636 MW at various stages of development. * On 9 March, Iberdrola took over 100% of the capital of the French Saint-Brieuc offshore wind farm. READ MORE
