News
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27/02/2020Iberdrola renews the exterior ornamental lighting of the Basílica de Nuestra Señora del Prado in Talavera Iberdrola, through its Lighting Programme, has renewed and modernised the exterior ornamental lighting of the Basílica de Nuestra Señora del Prado, in Talavera de la Reina. The inauguration was attended by the Group Chairman, Ignacio Galán; the President of the Castilla-La Mancha Regional Parliament, Emiliano García-Page; and the Mayor of Talavera de la Reina, Tita García. During his speech, Ignacio Galán pointed out that “Castilla-La Mancha is a real jewel of history for the whole of Spain” and stressed the significance of the Basilica within the artistic and cultural heritage of Talavera and the Region. “Today we inaugurate the lighting of a building that is the emblem and the pride of everyone in Talavera. We stand without doubt before one of the symbols of Castilla-La Mancha: for its famous ceramic tiling, its magnificent dome and its remarkable gardens, which, moreover, have been designated a Site of Cultural Interest since 1993”. It has also raised awareness of the social action of Iberdrola's Lighting Programme, “which has been safeguarding and enhancing the valuable artistic heritage of our country for decades”. This project employs the most advanced LED technology in 45 floodlights, capable of illuminating a surface of over 2,000 m2. With its new lighting, the Basilica achieves an energy efficiency of 60%, thereby avoiding the emission of 1.6 tons of CO2 into the atmosphere every year. Thanks to the work of its engineers, Iberdrola has succeeded in accentuating and enhancing the nocturnal outline of this place of worship, highlighting the architectural whole of a construction which unites renaissance and baroque styles and was declared a Site of Cultural Interest in 1993 in the Monument category. The renewal of the lighting for the Basílica de Nuestra Señora del Prado is another example of the company's commitment to Castilla-La-Mancha and its enduring mission to promote the region’s culture and protect and conserve its historical-artistic heritage. Iberdrola, committed through its social dividend As part of its social dividend, Iberdrola is putting into practice its commitment to culture through important acts of patronage, support for new forms of artistic expression and collaboration in the restoration of cultural legacy. This latter area includes its lighting programme for unique buildings, one of its principal initiatives in the preservation of historical-artistic heritage. This project adds to others that the company has completed in recent years in Castilla-La Mancha, most notably the Monasterio de Uclés, the ancient Cristo de la Luz Mosque, the Santa María la Blanca synagogue, the Santo Tomé Church Tower, San Antonio Abad church and the lighting project for the banks of the River Tagus as it passes through Toledo. READ MORE
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25/02/2020Record investments of €8.16 billion take Iberdrola’s net profit to a record €3.4 billion in 2019 (+13%) Iberdrola obtained a net profit of €3.4 billion in 2019, a record high which represents an increase of 13% compared to the previous year. This result was driven by record €8.16 billion investments delivered during the year (+32%). Gross operating profit, or EBITDA, exceeded €10 billion for the first time (€10.1 billion), an increase of 8.1% on 2018. Group Chairman Ignacio Galán pointed out that “these results reflect the company’s broad strategic vision and its capacity for delivery, which have enabled us to be 20 years ahead of the current energy transition.” Of the total investment amount, 44% went to networks and 41% to renewables, two areas which experienced growth of 19% and 85% to €3.59 billion and €3.34 billion respectively. As a result, the company installed 5.500 new megawatts (MW) in all markets during 2019, compared with the 1,000 MW annual average in previous years. In addition, the company is currently building 9,000 MW in Spain, Portugal, the UK, the US, Mexico, Brazil and other new markets such as Australia, scheduled to be commissioned in 2021 and 2022. The company also has a project pipeline of over 40,000 MW worldwide in different stages of development. The investments made in the networks business have increased the value of the group’s regulated assets to €31 billion, 6% more than in 2018 – all in an environment of new regulatory frameworks that contribute greater stability. Shareholders, employees and society play centre stage When presenting results, Ignacio Galán also stated how posting record profits was compatible with the group’s social dividend: “Iberdrola demonstrates year after year that its sustainable business model creates value for shareholders, employees and society at large. In 2019, we hired 3,500 people, purchased €20 billion worth of goods and services from 22,000 suppliers and paid €14 billion in taxes.” The latter figure is the sum of the €2.9 billion of taxes reflected in the group's profit and loss account plus the 5.2 billion euros of taxes collected from its customers and employees, together with the impact of indirect taxes on its activities. For twenty years now Iberdrola has been centred on environmental, social and governance (ESG) criteria while being absolutely committed to ethics, transparency and good corporate governance. This commitment was reinforced with the inclusion in its By-laws of the United Nations’ Sustainable Development Goals (SDGs) under the Agenda for 2030. The company managed to offer a 37% revaluation of the share and dividends paid in the year to its more than 600,000 shareholders while growing its dividend by 47.6% over the past five years. As regards its employees, Iberdrola continues to be a benchmark for stable, quality jobs. Having hired almost 3,500 people in 2019, it will continue to support employment, with some 5,000 new recruits in 2020. It is worth noting that 99% of the company’s workforce has permanent contracts. Furthermore, the company has dedicated 55 hours of training a year to each employee and has continued to bet on young talent through its Early Career programme, having granted scholarships to some 900 postgraduate students over the past few years. It has also strengthened ongoing dialogue with trade union representatives, as shown by the 36 labour agreements reached along the year and its inclusion in the Bloomberg Gender Equality Index for the third consecutive year. Iberdrola invested €280 million in R&D+i in 2019, thus placing itself among the top three of the sector worldwide and its international volunteer programme had 7,500 participants. Overall quality of service improved by 10% and its CO2 emissions remained two-thirds below those of its peers in Spain and Europe. Positive business performance boosts EBITDA Gross operating profit (EBITDA) reached €10.1 billion in 2019, representing an increase of 8.1% compared to 2018. This positive development is particularly significant in view of the fact that the company recorded the lowest hydroelectric production in the past few years. By businesses, the networks area posted €5.26 billion EBITDA, 7.1% up on previous year, driven by good performances in Brazil and the UK, thanks to the contribution of new investments in transmission and distribution assets. The generation and retail area showed a 21.1% EBITDA increase to €2.46 billion in the 12 months. This good performance was underpinned by the 2.6-GW in new generation capacity installed in Mexico, increased production growth in Spain and the good performance of global energy retail and digital services activities. At €2.38 billion, Renewables EBITDA was 2.4% down, with increased wind production partly offsetting low hydroelectric output, particularly in Spain. Financial strength and growing dividend Iberdrola continued to enhance its financial strength throughout this past year thanks to cash flow generation, which grew by 10% to €8.06 billion, and the completion of its €3.5 billion asset rotation plan three years ahead of schedule. The latter was further improved in 2020 with the sale of its stake in Siemens Gamesa for €1.1 billion. Thus, in a context of record investments, Iberdrola complied with its commitment to hold its financial solvency ratios steady: the ratio of funds from operations (FFO) and net debt improved by 0.7 bps to 22.2% and net debt to EBITDA came in at 3.6x compared with 3.7x the previous year[1]. Iberdrola also continued to be the global leader in private sector green financing, with €11billion outstanding. The good performance for the year has also allowed Iberdrola’s Board of Directors to propose to its Annual General Meeting, called for 2 April, the approval of a complementary dividend of €0.232 gross per share, payable in July. When added to the interim dividend paid on 5 February, total shareholder return (TSR) for 2019 stands at €0.40 gross per share, up 14% from previous year. This means the dividend floor initially set for 2022 has been reached three years in advance. Investment growth and future prospects The investment plan, the continuous increase in efficiency and the favourable operational prospects allow for a positive 2020 guidance, in terms of both results and shareholder return. Specifically, Iberdrola contemplates investing more than €10 billion during the year, 40% more than the average for the past three years. This will translate into 4,000 new MW of installed capacity, and an increase of around 4% in the regulated assets base. The networks business will also be reinforced by new tariff agreements, the renewables business by greater operating capacity and the generation and retail business by increased production. The combination of these positive factors, together with the demanding climate policies being implemented in its key markets allow Iberdrola to expect growth in net profit for 2020[2] at high single-digit levels while keeping its financial strength and its increasing dividend policy. This growth rate will be maintained in the following years. [1] Pro forma, excluding the impact of IFRS16. [2] Excluding pre-tax capital gains for approximately €485 million from the sale of its stake in Siemens Gamesa READ MORE
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24/02/2020Iberdrola calls its Annual General Meeting for 2 April The Iberdrola Board of Directors has agreed to call the 2020 Annual General Meeting for 2 April on first call. In its meeting today it also approved the agenda, which contains 24 proposed resolutions including some changes to the composition of the Board. Specifically, the General Shareholders’ Meeting will be asked to approve the appointment as independent directors of Nicola Mary Brewer, a UK national, and Regina Helena Jorge Nunes, a Brazilian national, as well as the re-appointment of Íñigo Víctor de Oriol Ibarra and Samantha Barber. In this way the company strengthens the high degree of independence of of its Board members as well as their diversity in terms of gender, age, background and experience. It is proposed to keep the number of members at 14. Other proposed resolutions concern the appropriation of profit and the distribution of the dividend for 2019 by means of the ‘Iberdrola Flexible Remuneration’ system, as well as the reform of the Articles of Association with a view to redefining and amplifying the concepts of social interest and dividend and giving statutory recognition to the Compliance System and the Compliance Unit, among other improvements. New share buyback programme In its meeting today the Board of Directors also agreed to carry out a new share buyback programme with a view to their subsequent cancellation. The objective is to comply with the group’s commitment to keep the number of outstanding shares stable at around 6.24 billion, on which earnings per share are estimated. To this end, Iberdrola will acquire a maximum of 111,867,723 of its own shares in the market, representing 1.733% of the company’s current share capital, for a maximum amount of €1.565 billion. This buyback programme will start on 25 February and end not later than 12 June 2020. The Annual General Meeting, a sustainable event Iberdrola maintains its commitment to lead in sustainability in all its procedures. Proof of this is the certification of its AGM as a sustainable event for the fifth year running. This recognition is granted by AENOR and by IHOBE, a public company of the Basque Government, based on the ISO 20121 standard. The certification means that all the processes of the AGM, from the planning of the event until after it is held, follow sustainability criteria in order to ensure accessibility, minimise environmental impact, help the local community and vulnerable groups and raise awareness on sustainability. Iberdrola was the first Ibex 35 company to obtain this certification in 2016, and to renew it in 2019. READ MORE
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17/02/2020Iberdrola begins construction on its first photovoltaic plant in Aragon Iberdrola is moving forward with the process of leading the energy transition in Spain with the start of construction on its first photovoltaic plant in Aragon, with 50 MW of installed power, located in the municipality of Azaila, in Teruel province. The photovoltaic plant, consisting of 142,740 monocrystalline silicon cell photovoltaic modules with a fixed support structure, will generate up to 140 jobs during the peak of the construction phase. Once operational, it will produce enough clean energy for a population equivalent to 24,290 homes/year, in addition to avoiding the emission of some 19,000 tons of CO 2 per year. It is scheduled to be become operational by the end of 2020. With this new project, the company is reinforcing its commitment to Aragon, where it has just brought the El Pradillo wind farm (23 MW) on line. It is also building the Puylobo wind farm (48.5 MW) and already operates more than 360 MW of wind and hydro power in the region. Renewable investment strategy in Spain Iberdrola is implementing the most ambitious renewable investment plan in Spain, which provides for the installation of 3,000 MW of wind and photovoltaic energy by 2022 and up to 10,000 MW by 2030. The plan will create jobs for 20,000 people in Spain. In Spain, Iberdrola is the leading wind energy producer—with an installed capacity of more than 5,800 megawatts (MW)—and it is the renewable energy leader, with 16,000 MW installed (over 30,300 MW worldwide), making its generation fleet one of the cleanest in the energy sector. Iberdrola’s choice of a decarbonised economic model has entailed investments of almost €10bn euros a year around the world, it has allocated almost €100bn in this area since 2001. Of this, 25bn have been invested in Spain. For further details: How do photovoltaic power plants work?? READ MORE
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12/02/2020Orange has chosen Iberdrola to provide green energy for 9,000 supply points in its own network over the long term Iberdrola and Orange have decided to ally themselves in terms of sustainability, with a long-term power purchase agreement (PPA), which will allow the telecommunications operator to continue with its commitment to consuming emissions-free energy in this country, which it already demonstrates as it uses energy from 100% renewable sources at all its locations. The terms of the agreement reached between the two companies establish that Iberdrola will provide green energy to the 9,000 supply points in Orange's own network in Spain, for a period of 12 years. The contract is now in place and half of the consumption — 200 GWh/year — to be supplied under the PPA formula will be associated with a new-build renewable asset, the Ceclavín photovoltaic project, which Iberdrola will develop in Extremadura during this year. The plant will have an installed capacity of 328 MW and be located in the municipalities of Ceclavín and Alcántara, in the province of Cáceres, and will be Iberdrola's third photovoltaic project in the region. It will become operational in 2020 and avoid the emission of 110,000 tonnes of CO2 a year. Ceclavín forms part of Iberdrola’s strategy to invest in clean power generation projects in Spain — where it plans to install 3,000 MW by 2022 — and its commitment to using bilateral agreements with big customers who are committed to sustainable consumption as a way to promote the supply of energy at affordable, stable prices. "PPAs open many opportunities to develop the renewable projects that are transforming the present and future energy in our country. These long-term energy purchase and sales contracts provide stability to the company's investments and have also become an optimal tool for managing the electricity supply of large consumers who are committed to clean and sustainable consumption. In addition, these agreements demonstrate the competitiveness of renewables and their ability to supply energy at affordable and stable prices”, explains Iberdrola España CEO Ángeles Santamaría. “This agreement with Iberdrola is in line with our commitment to caring for the planet and for sustainability that are set out in the Orange Group's strategic plan, Engage 2025, of which Spain, as its second largest market, is a fundamental part. In addition, it reinforces our strategy as a group to achieve carbon emission neutrality by 2040, while also contributing to increasing the renewable energy capacity in Spain”, says Laurent Paillassot, CEO of Orange. Together with its environmental impact, the construction of this new photovoltaic solar project will contribute to job creation and to boosting the industrial fabric of the local community. Its construction will represent an investment of some 250 million euros. Iberdrola, clean energy leader in Spain The Ceclavín photovoltaic project forms part of the company’s commitment to strengthening its investment in the production of clean energy in Spain, by installing 3,000 new MW by 2022. Up to 2030, the company forecasts it will install 10,000 new MW, which will create employment for 20,000 people. In Spain, Iberdrola is the leader wind developer — with an installed capacity of more than 5,800 MW — and renewable energy leader, with 16,000 MW installed (over 30,300 MW worldwide), making its generation fleet one of the cleanest in the energy sector. Iberdrola’s choice of a decarbonised economic model has entailed investments of almost €10bn euros a year around the world, having allocated almost €100bn in this area since 2001. Of these, 25 billion have been invested in Spain. Iberdrola is a global reference point in the area of PPAs and has long-term power purchase agreements (PPAs) in markets that include Spain, United States and Mexico, with wind and photovoltaic power projects totalling over 1,500 MW. In Spain, the company has been a pioneer in promoting this type of agreement with companies from various sectors (banking, telecommunications, brewery distribution and sports brands). For further details: What is a PPA and what are the main benefits? Orange's Environmental Policy Orange's environmental policy, which is part of its strategic plan, Engage 2025, is based on 3 main cornerstones: reduce CO2 emissions, integrate the circular economy into its processes and activities, and use digital technology to boost energy efficiency. One of Orange's objectives, which are aligned with the SDGs, is to reduce the CO2 emissions from its activity to 0% by 2040, which requires that all the energy it consumes comes from renewable energies, as well as specific actions in energy efficiency. In addition, Orange will expand its Green ITN programme to reduce the energy consumption of its network locations and integrate the circular economy into its business with measures such as green products, a second-hand equipment network and the sale of more second-hand devices in stores. All its planned actions are measurable and accessible and managed in compliance with the ISO 14001:2015 Environmental Management System. They are audited and presented to international certification bodies that certify them and regularly award the Orange Group prizes. READ MORE
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10/02/2020Iberdrola will build its next wind farm in Spain with the most powerful onshore wind turbine Iberdrola will build its next wind farm in Spain, the Herrera Complex, with the most powerful onshore wind turbine, after awarding Siemens Gamesa the contract to supply the first SG 4.5-145 wind turbines, with a 4.5 MW power unit; which is almost seven times more powerful than the first wind turbines installed in Spain more than two decades ago. The company is, thus, continuing to advance in its commitment to clean energy in Spain, incorporating cutting-edge technologies to provide more competitiveness and sustainability to its renewables projects. The Herrera Complex, which will be built in Burgos province, is made up of three wind farms — La Huesa, Valdesantos and Orbaneja — and will have an installed capacity of 63 megawatts (MW), distributed between a total of 14 wind turbines. Forecasts indicate that the project will be operational this year. The Orbaneja and La Huesa wind farms will be located in the municipalities of Isar, Las Quintanillas, Rabé de las Calzadas and Estepar: the first one will consist of seven wind turbines, up to a total of 31.5 MW of installed power, while the second one will have four turbines that will add a further 18 MW. Valdesantos will be built in Estepar and will have three machines with a total installed capacity of 13.5 MW. Iberdrola will also build the 10 MW-capacity Fuenteblanca wind farm in its vicinity, which will consist of 3 SG 3.4-132 wind turbines, to complete a 73 MW wind farm complex. Competitiveness, sustainability and quality employment The SG 4.5-145 wind turbine, with a new 71-metre blade and a diameter of 145 m, is three times bigger than the first wind turbines and twice the height of Burgos Cathedral. It also incorporates new technology to maximise energy production and the competitiveness of the installation making it a leading solution for medium-wind sites. Ambitious renewables plan in Spain With the Herrera wind complex, Iberdrola is progressing with its renewables investment plan in Spain, where the company plans to install 3,000 new wind and photovoltaic MW. By 2030, company forecasts point to the installation of 10,000 new MW. These actions will enable jobs to be created for 20,000 people. At present, and with these processes under way, Iberdrola’s projects under construction or in the pipeline — wind and photovoltaic — in Spain total more than 4,000 MW in regions such as Extremadura, Castilla-La Mancha, Castilla y León, Navarra, Aragon, Andalusia, Murcia, Cantabria and Andalusia. In Spain, Iberdrola is the leader wind developer — with an installed capacity of more than 5,800 MW — and renewable energy leader, with 16,000 MW installed — over 30,300 MW worldwide —, making its generation fleet one of the cleanest in the energy sector. Iberdrola’s choice of a decarbonised economic model has entailed investments of almost €10 billion euros a year around the world, having allocated almost €100 billion in this area since 2001. Of these, 25 billion have been invested in Spain. Committed to Castilla y León It is also reinforcing its commitment to Castilla y León and its leadership in renewable energies in the region, where it already operates 5,100 MW — of this, 1,500 MW is from wind —, making this the autonomous community with the most ‘green’ megawatts installed by the company. Along with Herrera, Iberdrola is building the Buniel (Burgos) wind farm complex, in collaboration with Caja Rural de Soria, and the Valdemoro Park, with a total of 164 MW, which makes it one of the largest in Castilla y León. In addition, the BaCa (Ballestas and Casetona) wind farm has just been put into operation with a capacity of 69.3 MW. Besides this, the company has just started processing the formalities for its first two photovoltaic projects in the area, which will be located in Ciudad Rodrigo (300 MW) and in Villarino (50 MW) in the province of Salamanca. As well as these initiatives, Iberdrola has also secured grid access for a further 500 MW renewable power capacity, consisting of a large wind farm (300 MW) and a 200 MW photovoltaic plant. READ MORE
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03/02/2020Iberdrola announces 46 Master's scholarships to study in five countries during the 2020-21 academic year Iberdrola is offering new master's scholarships for the 2020-2021 academic year with the aim of promoting excellence in the training of new generations and employability in strategic areas within the company, such as renewable energy, which play a key role in combating climate change. This year, the group plans to award a total of 46 grants, to which it will allocate about 1.5 million euros in total; the grants will be aimed at graduates, postgraduate students and students in the final year of their degree studies from Spain, the United Kingdom, Mexico and Brazil. To date, thanks to Iberdrola’s firm commitment to education, more than 900 young people have studied on master’s and postgraduate courses and carried out research at prestigious international universities. 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 31 March. Interested parties can learn about the conditions and fill in the application form on Iberdrola's corporate website (www.iberdrola.com ) in the 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 in 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 17 new scholarships to Spanish students or residents for master’s degrees in Spain, the United Kingdom or the United States during the 2020-2021 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, University of Edinburgh, University of Strachclyde, University of Connecticut 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 Within this International Master's Scholarship Programme, Iberdrola is also announcing 10 scholarships for postgraduate studies in the United Kingdom for the 2020-2021 academic year. Successful applicants will be able to study at prestigious British centres such as the University of Cambridge; Imperial College London; the University of Edinburgh; Herriot-Watt University; University of Stratchclyde; University of Glasgow; Glasgow Caledonian University; University of Liverpool; 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 Mexico Iberdrola is also offering 15 scholarships to students who are Mexican citizens or residents to cover postgraduate studies in Mexico for 2020-2021. Depending on the Master's programme, they may be valid for one or two academic years. Those selected will have the opportunity to carry out their studies in one of these six universities: Instituto Tecnológico y de Estudios Superiores de Monterrey; Instituto Tecnológico Autónomo de México; Universidad Panamericana; Universidad de Anáhuac; Universidad Iberoamericana and Universidad La Salle. The scholarship covers the cost of tuition and includes up to 21,000 pesos per month for living expenses, transport 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 Iberdrola is also offering four scholarships to students who are Brazilian citizens or residents for postgraduate studies in Spain or the United Kingdom for the 2020-2021 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, University of Cambridge, University of East Anglia, University of Edinburgh, University of Glasgow, University of Liverpool and University of Strathclyde. In addition to the tuition and assistance with the airfare, the scholarship will provide 18,960 euros per year to cover transport and accommodation costs in the United Kingdom and 10,800 euros per year in the case of Spain. READ MORE
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30/01/2020Iberdrola commissions the El Pradillo wind farm Iberdrola is moving forward with its process to lead the energy transition with the launch of a new renewable project, the El Pradillo wind farm (23 MW), located between the Zaragoza towns of Frescano, Borja and Agón, in Aragón. Comprising 6 SG 3.4-132 wind turbines, with 3.4 MW power units, and 1 SG 2.1-114 wind turbine, rated at 2.1 MW, its construction has had an important stimulating effect on the local industrial fabric, since a good number of the elements in the wind turbines have been manufactured in Spain, in facilities in Zaragoza, Soria, Burgos, Navarra, Cantabria and Asturias. The construction of the El Pradillo wind farm has also generated local employment, as it involved 75 workers. The project, undertaken jointly with Caja Rural de Navarra, has involved the investment of 26 million euros. The energy generated by El Pradillo is sufficient to supply 10,500 homes per year -almost one third the entire population of the city of Teruel- and will avoid the emission of 17,300 tons of CO2/year. Renewable investment strategy in Spain El Pradillo reinforces Iberdrola's presence in Aragon, where it already operates 344 MW of wind and hydroelectric power, and adds to the most ambitious renewable investment plan in Spain, which anticipates the installation of 3,000 MW of wind and photovoltaic power by 2022 and up to 10,000 MW by 2030. The plan will create jobs for 20,000 people in Spain. In Spain, Iberdrola is the leading wind energy producer -with an installed capacity of more than 5,800 megawatts (MW)- and the renewable energy leader, with 16,000 MW installed (over 30,300 MW worldwide), making its generation fleet one of the cleanest in the energy sector. Iberdrola’s choice of a decarbonised economic model has entailed investments of almost €10bn euros a year around the world, having allocated almost €100bn in this area since 2001. Of this, 25 billion have been invested in Spain. For further details: How does an onshore wind farm work? READ MORE
