News
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15/11/2021Castile and León has become the front runner in the green energy race thanks to Iberdrola's first photovoltaic plant Iberdrola has started assembling more than 145,300 panels - each with 345 Wp -in Castile and León's first-ever photovoltaic project. The facility will cement the company's leadership in renewables in this region, where it is already operating more than 5,100 MW, making this the autonomous region where the company has installed the most 'green' megawatts. The 50-MW Revilla-Vallejera plant will be built in the Burgos municipality of the same name, Villamedianilla and Velljera, and will produce enough clean energy to supply a population equivalent to 26,000 homes/year. What's more, it will avoid emissions of 12,300 tonnes of CO2 per year with an investment of 32 million euros. This plant will have a significant local component, benefiting local suppliers and, at peak times during the construction process, employing up to 250 workers, until it is commissioned in 2022. As well as purchasing and installing the panels, an underground power line will be laid to carry the power generated by the plant and the evacuation transformer substation will be extended. Castile and León, epicentre of renewable developments This project is further evidence of Iberdrola's commitment to Castile and León, which is already a leading renewable development centre in the company's investment cycle to 2025. Iberdrola's photovoltaic portfolio in the region will be completed by the more than 1,000 MW it has in the pipeline, distributed, as well as in Burgos (Ballestas), in Salamanca (Villarino), Segovia (Otero) and Palencia (Velilla). In the province of Burgos alone, the company has recently built and developed more than 550 MW in projects like the Herrara II wind farm, with the most powerful wind turbines ever installed in Spain (63 MW); Ballestas and Casetona (69 MW), Fuenteblanca (10 MW), Buniel (114 MW), Valdemoro (50 MW), Iglesias (94 MW) and Alcocero de Mola (102 MW), and two hybrid photovoltaic plants in the pipeine in Ballestas and Casetona (69 MW). Pioneers in the energy transition Iberdrola's investment plan in Castile and León foresees the installation of 1,800 MW of green production in the coming years, progressing with its sustainability strategy based on electrifying the economy and fighting climate change while creating wealth and jobs in the communities where it operates. The company is a leader in green, sustainable financing, with 35.8 million euros and is the global leader in green bond emissions. Its CO2 emissions as of September have been reduced to 53 g/kWh and it maintains its goal of becoming an emission-neutral company by 2030 in Europe. In the last two decades, the company has invested 120 billion euros in renewable energies, smart grids and energy storage. An investment plan to 2030 worth 150 billion euros will triple its renewable capacity to almost 100,000 MW. READ MORE
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13/11/2021Iberdrola, the only European utility included in all 22 editions of the Dow Jones Sustainability Index Iberdrola has once again been included in the Dow Jones Sustainability Index (DJSI), making it the only European utility to have been included in the selection in all 22 editions. That's according to the annual update published by S&P Dow Jones Indexes and RobecoSAM, which is in charge of preparing the index. This highlights the group’s firm commitment to the highest environmental, social and corporate governance standards since, from an initial universe of some 10,000 companies, only 10 % of the top-scoring companies in terms of sustainability are finally selected. The evolution of this index also demonstrates how investor interest in the most sustainable companies has been increasing in recent years and creating shareholder value is compatible with a sustainable business model that is committed to the environment: since 2001, the DJSI World has gained 113 %, compared to Iberdrola's 203 %1 gain over the same period. This evolution reflects the success of a model based on sustainable development, which has led to Iberdrola’s becoming a world leader in renewable generation, with more than 37,300 megawatts (MW) of installed capacity in the first nine months of 2021 and a benchmark in sustainability and the fight against climate change. In this edition, the company has once again demonstrated its leadership in important aspects such as innovation, stakeholder relations, , market opportunities, risk management, environmental management and water. Leader in sustainability Iberdrola has fully incorporated the Sustainable Development Goals (SDG) into its strategy. The goals are part of the 2030 Agenda and were approved by the UN in September 2015. In line with its activities, Iberdrola focuses its efforts on the provision of affordable and clean energy (Goal 7) and climate action (Goal 13). In addition, the group contributes directly to ensuring clean water and sanitation (Goal 6), it has increased its investment in R&D&i activities to 400 million euros in 2025, (Goal 9), promotes respect for the life of terrestrial ecosystems (Goal 15) and works to establish partnerships to achieve the goals (Goal 17). Having been 20 years ahead of the current energy transition, the Iberdrola group now plans to invest €150 bn in the run-up to 2030 and thus remain at the forefront of the energy revolution faced by the world's major economies. The company is moving forward with its historic €75 billion investment plan until 2025 and consolidating its business model, based on more renewables, more grids, more storage and more smart solutions for customers. Therefore, by 2030 Iberdrola will have tripled its installed renewable capacity - to 95 gigawatts (GW) - and doubled its regulated asset base - to 60 billion euros. 1Data at close of 11 November 2021 READ MORE
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13/11/2021i-DE, the Iberdrola Group's distribution company in Spain, is invoicing retailers without delay or incident Iberdrola, and specifically its distributor i-DE, has expressed its satisfaction at having undertaken the necessary changes and developments to continue its activity after the entry into force of the new tolls, being able to bill without any real delay to the retailers who are, in effect, the ones who deal with the customers. This is the consequence of having adapted their systems in good time without incident. These changes have ensured that the distribution of the leading national electricity group has not resulted in any incident with the retailers. It should be remembered that the distribution company is responsible for delivering the energy to each supply point, while the retailer agrees the conditions with the customer, takes care of the customer and bills for the energy consumed. The delays by other distributors is affecting the service that all retailers offer to their customers. i-DE operates a distribution system with 270,000 km of power lines across 10 Autonomous Communities in Spain, serving a population of 17 million. READ MORE
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12/11/2021Segovia hosts the exhibition 'The Prado Museum in the Streets' Segovia hosts the exhibition 'The Prado Museum in the Streets', sponsored by Fundación Iberdrola España and the Prado Museum, with the collaboration of the Castilla y León Regional Government and the city council. This is the seventh location visited by this travelling exhibition, which began in Salamanca and made its last stops in Valladolid, León, Aguilar de Campoo, Burgos and Soria, and which is touring the nine provinces of the region with the aim of raising awareness regarding the collections and the historical heritage attached to the Prado National Museum through different educational programmes and cultural activities. The exhibition, which recreates a visit to the museum by allowing visitors to contemplate the paintings at their real scale, provides an experience similar to that of standing in front of the real work of art and it can be visited between 12 November and 13 December in the Paseo del Salón de Isabel II, one of the city's most iconic spaces. This successful cultural initiative was inaugurated this morning by the Mayoress of Segovia, Clara Luquero de Nicolás; the President of the Fundación Iberdrola España, Fernando García; the Vice-Minister for Culture in the Castilla y León Regional Government, Raúl Fernández Sobrino, and the Deputy Director for Conservation and Research at the Prado National Museum, Andrés Úbeda de los Cobos. It brings 50 of the most important works from the Museum's Permanent Collection to Segovians through full-scale photographic reproductions. A journey through the history of Western art This large, open-air exhibition, curated by Fernando Pérez Suescun, Head of Educational Content at the Prado Museum, enables visitors to tour the different artistic schools covered by the Prado Museum's permanent collections and learn about the history of Spain, Europe, and Western art in general, as painted by the great masters. The Spanish, Italian, Flemish, French, German, and Dutch schools are represented through artists from the 12th century to the early 20th century. The exhibition also has bilingual information panels for each work of art, as well as details on the history of the Museum and its collections. The reproductions are shown at a scale of 1:1, however, due to the dimensions of the exhibition stands, this means that, for some of the larger works, only a magnificent and striking part of the work can be seen, with a smaller representation of the entire painting shown in the explanatory panel. In the wake of the enormous success of the exhibition during the celebration of the Museum’s two-hundredth anniversary, “Prado in the Streets" travelled around Castilla la Mancha until 26 April. In almost two years, thousands of visitors have had the chance to behold some of the wonders of the Museum's collection thanks to these accurate reproductions, spreading culture across the region with daily visits that never failed to observe the applicable anti-COVID-19 rules. “The Prado in the Streets” began its journey through Castilla y León in Salamanca on 30 April and over the course of ten months it will travel to other cities in Castilla y León. In addition to Salamanca, Valladolid, León, Aguilar de Campoo, Burgos and Soria, its last stop, Segovia, where it is being presented today, Ávila and Benavente will also be able to enjoy the exhibition. Fundación Iberdrola España is a supporting member of the Prado Museum Fundación Iberdrola España focuses a key part of its activity on caring for and maintaining Spain’s cultural and artistic wealth. The Foundation has been working with the Prado Museum since 2010 by supporting the gallery’s conservation and restoration programmes, as well as offering four annual grants to young restorers. It also promoted the Extraordinary Programme for the Commemoration of the Bicentenary of the Prado Museum and, in particular, the deployment of this travelling exhibition in Spain, which continues to be a great success today. Since 2011, Fundación Iberdrola España has allocated a total of €13 million to art and culture, focusing its resources primarily on the Restoration Programme to support the restoration workshops in leading museums for the conservation of their pictorial and artistic heritage. The Foundation also supports the Lighting Programme, which includes the design, implementation, and financing of artistic projects to light iconic buildings and monuments. READ MORE
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10/11/2021The chairman of Iberdrola, Ignacio Galán, urges a move from promises to action at COP 26 The chairman of Iberdrola, Ignacio Galán, participated in the Caring for Climate meeting this morning. This is an initiative of the United Nations Global Compact, the United Nations Environment Programme and the Secretariat of the United Nations Framework Convention on Climate Change to enhance the role of business in tackling climate change , and is organised as part of COP26, of which the company is a patron. During the meeting, which was also attended by the Secretary of the United Nations, António Guterres, Galán warned of the need to act immediately in the face of this climate emergency: "We have to move from promises to action", he said. For 20 years, the company has taken on an important corporate role linked to climate change objectives based on renewable energy. So far, it has invested 120 billion euros to, among other things, generate elements of renewable energy production, promote the development of smart grids and create opportunities by transforming sectors such as shipbuilding. This has contributed decisively to reducing emissions of polluting gases and improving air quality, achieving emissions that are six times lower than its European competitors, with a view to 2030, by which date it will have made a further investment of 150 billion euros aimed at achieving zero net emissions in Europe. Iberdrola's commitment is resolute and objective, and it will triple its investment in renewables over the next 10 years with a clear goal: to do away with coal as a source of energy and opt for more sustainable and profitable solutions. Achieving decarbonisation requires stable and consistent regulatory frameworks, aligned with climate objectives, but also the elimination of fossil fuel subsidies and the application of the “polluter pays” principle. For Galán, it’s also essential to develop training programmes so that employees can adapt to this transition, but, above all, he believes that the complicity of public administrations is needed to put an end to the bureaucracy that unnecessarily lengthens the deadlines for some much-needed infrastructures. Meeting with young people at the Climate Summit The president also had the opportunity to talk with a group of young people participating in the Climate Summit to hear their concerns and proposals first hand, convinced that intergenerational responsibility is essential, which makes climate commitments urgent if we want to leave a decent world to future generations. Aware of the climate challenge, many young people are demanding greater responsibility from the different social, business and political actors in order to achieve it, something that Galán highlights due to the commitment, effort and enthusiasm that it reflects. For this reason, the chairman stressed the need to take advantage of the economic opportunities presented by this green transition without leaving anyone behind, promoting training in professions of the future to identify and create the jobs that are needed. This morning's meetings took place during the day of the Climate Summit dedicated to transport, the main greenhouse gas emitting sector in developed economies and, at the same time, the sector that is making least progress in decarbonisation. In this respect, the automotive industry is already making determined efforts, such as the manufacture of electric vehicles. In line with the social demand for sustainability in transport, Iberdrola has been committed from the outset to promoting the territorial deployment of charge points, but it is also developing solutions based on green hydrogen to avoid the use of fossil fuels for very long-distance transport. READ MORE
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09/11/2021Iberdrola is to issue green hybrid bonds for 750 million euros Today, Iberdrola fixed the terms and conditions for a new green hybrid bond, for a total of 750 million euros, and has notified the National Securities Market Commission (CNMV). The demand for and the terms of this operation once again demonstrate the confidence that the market and investors have in the soundness and solvency of the energy company's business and growth plans. This operation will also finance the group's renewable development as per its strategic plan, with projects in Australia and Poland. The transaction is structured as a single tranche, perpetual, but with a buyback date at par in 6 years. Iberdrola may subsequently buy back the bond on a yearly basis, coinciding with the coupon payment date. This has been set at 1.575 %. These conditions are extremely advantageous for a subordinated instrument. To take advantage of good market conditions, the amount of 750 million euros will be brought forward to 2021, accounting for half of the needs for hybrids established in the strategic plan for next year, limiting the risks of interest rate hikes or a possible downturn in the credit markets. This will allow Iberdrola to continue to maintain its excellent financial health. In addition, hybrid bonds count as 50 % capital according to the methodology used by the main rating agencies, so this operation also contributes to maintaining the group’s credit ratings. Despite market volatility, the demand registered shows that investors are very interested in fixed income from Iberdrola, up to three billion euros, which is four times the offer. This is possible thanks to the participation of almost 200 qualified international investors, mainly European. The placement was made by UniCredit, Barclays, Crédit Agricole, Deutsche Bank, HSBC, JP Morgan and Mizuho. The proceeds will be used to finance and refinance renewable wind and solar farms in Australia and Poland with a combined installed capacity of 757 MW. These projects are part of the 75-billion-euro investment plan launched by Iberdrola for the period 2020-2025. Of this amount, most of it will go to growth in renewables in order to double capacity to 60 GW by 2025, new smart grids and more storage capacity. This means 80 % of the plan would represent sustainable investments, according to EU criteria. Iberdrola reaffirms its global leadership in green finance Iberdrola continues to make progress with its sustainability strategy, based on the electrification of the economy and oriented towards the fight against climate change and the creation of wealth and employment in the communities in which it operates. With this new issue, which coincides with the Climate Summit held in Glasgow between 31 October and 12 November 2021, of which Iberdrola is the main partner, the company chaired by Ignacio Galán continues to consolidate its leadership in sustainable financing, with more than 36.5 billion euros in live operations, of which more than 19.75 billion euros correspond to green finance and around 16.7 billion to credit lines, loans or commercial paper programmes subject to compliance with sustainability objectives. Today's operation will strengthen Iberdrola's position as the world's leading green bond issuer. The projects to which the resources obtained from these placements are allocated are aligned with the United Nations Sustainable Development Goals (SDGs), towards which Iberdrola is working: Number 7, affordable, clean energy, and number 13, climate action. The green nature of the issue and the application of the funds have been validated by Vigeo Eiris, a leading European expert in assessing practices and behaviours by companies and public corporations in the areas of environment, social responsibility and good governance. valuación de compañías y organizaciones en lo relativo a sus prácticas y comportamiento en áreas de medio ambiente, responsabilidad social y buen gobierno. READ MORE
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09/11/2021The cycling alliance Moving for Climate NOW sponsored by Iberdrola delivers a Manifesto for climate ambition and urgency to the United Nations and to the Presidency of COP26 The group of 15 cyclists was made up of representatives from international bodies, governments, universities, conservationists and business groups, backed by Iberdrola. Their final goal was the doors of the Climate Summit currently underway in Glasgow (Scotland) where they presented a manifesto demanding climate action by all members of society in five key areas. They were met by the deputy executive secretary of the Framework Convention of the United Nations on Climate Change (CMNUCC), Ovais Sarmad, Peter Hill, Chief Executive Officer of COP26, Iberdrola chairman Ignacio Galán and the CEO of Scottish Power, Keith Anderson. During the last four days, the cyclists covered more than 270 km on electric bikes, some of them stopping off at some of Scotland's most symbolic energy sites to talk about the manifesto. The participants come from different organisations, among which are the International Energy Agency, the University of Strathclyde, WWF UK, CMNUCC, the Corporate Leaders Group, the International Renewable Energies Agency (IRENA), the British and Scottish governments, and several international journalists who have all become part of Moving For Climate Now. Since COP21 in Paris, they have been at every Summit to send a message about the urgent need for immediate action to fight against climate change, particularly in terms of the transition of a more efficient, low-carbon energy model. A manifesto for the world The most recent report published by the United Nations Intergovernmental Panel on Climate Change (IPCC) includes some startling conclusions of how climate change is intensifying fast. An ever-increasing number of regions across the planet are suffering the effects, and what is more, emissions are not slowing down, rather they are increasing. The manifesto delivered today sets out, point by point, the fundamental principles on which this team believes action is needed to address climate challenges and meet the objectives of the Paris Agreement. It advocates for: * Medium and long-term paths to achieve net-zero emissions by 2050. * Coherent policies that will enable countries to meet their emissions reduction targets. * More green investment to speed up the decarbonisation of the economy. * Better conservation of marine and terrestrial ecosystems, vital for a healthy planet. * Giving impetus to encouraging everyone to work together, forming alliances to address climate change challenges. The sixth Moving for Climate NOW and almost 4,500 km covered The Moving for Climate NOW cycling for the climate initiative is in its sixth in-person edition this year. After travelling almost 4,500 km since the initiative began, which has taken the cyclists from Bilbao to COP21 in Glasgow, 200 participants from a variety of areas of influence have participated in this Iberdrola-sponsored event. These have included international organisations such as the European Commission, the European Investment Bank and the International Energy Agency (IEA); institutions like the Spanish Office for Climate Change; initiatives like the World Business Council for Sustainable Development; civil society, through NGOs such as ECODES, the Red Cross and Ayuda en Acción; opinion-makers, sportsmen and women and research centres and universities such as the University of Salamanca, the Universidad Pontificia Comillas, the Federal University of Rio de Janeiro and the International Institute for Sustainable Development (IISD). At the "finish lines", Moving for Climate NOW has delivered its manifestos to the main institutions of the global climate agenda, passing through the Climate Summits in Paris, Marrakech, Bonn, Katowice and Madrid. Iberdrola's climate neutrality in Europe in 2030 Iberdrola continues to make progress with its sustainability strategy, based on the electrification of the economy and oriented towards the fight against climate change and the creation of wealth and employment in the communities in which it operates. The company is COP26's main partner through its subsidiary ScottishPower, an event hosted in Glasgow from 31 October to 12 November 2021. By September, it had succeeded in reducing its own CO2 emissions to 53 g/kWh and it is committed to its undertaking of becoming emissions neutral in Europe by 2030. In the last two decades, Iberdrola has invested 120 billion euros in renewable energies, smart grids and energy storage. An investment plan to 2030, worth 150 billion euros, will triple its renewable capacity to almost 100,000 MW. Iberdrola Chairman Ignacio Galán welcomes the team of cyclists Iberdrola's chairman, Ignacio Galán, welcomed the team of cyclists and encouraged them to continue with their efforts to fight climate change, highlighting that "from Paris, the 200 people from institutions, universities, NGOs and political figures who have joined forces with Moving for Climate NOW have travelled 4,500 km on two continents, cycling together to speed up the transition towards the zero-emissions objective, proving that joining forces can multiply results". During his speech, he added that "this year, during the tour of Scotland, in just two days they travelled from the past - cycling from the old electricity plant in Longannet, whose chimney is scheduled for imminent demolition - to the future of the energy system, namely our facilities in Whiteless, where wind energy has been combined with battery storage, and will soon be joined by a green hydrogen plant". READ MORE
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09/11/2021Galán has conveyed his commitment to Andalusia to Juan Manuel Moreno: it will triple its renewable capacity in the region Commitment to the energy transition and a cleaner community. This is the message conveyed by the chairman of Iberdrola, Ignacio Galán, to Juan Manuel Moreno, president of the Regional Government of Andalusia, at their meeting this morning during COP26. Galán has pledged to triple its renewable capacity in the region to 3,000 MW over the next five years. This plan represents an investment of around 1.5 billion euros and will create 5,500 new jobs in the region in the installation and assembly alone. Iberdrola is already the leading wind power developer in the region and has an installed renewable capacity of 817 MW. Andalusia therefore becomes one of Iberdrola's major growth centres in Spain, where the company is already a leader in the generation of clean and green energy, therefore contributing to the energy transition and job creation in Spain. “This is Iberdrola's commitment: To drive a clean, safe and efficient energy transition and to join forces to accelerate a green recovery that leaves no one behind”, explained the Chairman. Supporting decarbonisation in Spain An example of this commitment can be found in the Andévalo photovoltaic plant, which prevents the emission of 15,000 tonnes of CO2 into the atmosphere each year and the construction of which involved nearly 200 professionals. The project coexists within the largest wind power complex in Western Europe, El Andévalo (292 MW), promoted and managed by the company since 2010. The renewable electricity produced by the project allows Heineken to use 100% green, emission-free energy in its four factories in Spain and its offices. The plant has also been an example of biodiversity as it has accommodated 162 beehives, a pioneering circular economy initiative that allows for the responsible use of natural resources, while promoting the sustainability of the environment. Another example is the wind farms that the company will build between the provinces of Malaga and Seville, with a total installed capacity of 79 MW. The first of the wind farms is El Puntal II, with 15 MW, which last week began construction in the municipality of Sierra de las Yeguas, in Malaga province. The facility will have three SG145-5 MW wind turbines, with a capacity of 5 MW each, making it the company's largest and most powerful wind turbines in Spain. The second, the Martín de la Jara facility, with 36 MW of installed capacity, is located in this Sevillian municipality and will be made up of nine V150-4MW wind turbines. In the municipality of Estepa, Iberdrola will develop the 28 MW San Cristóbal wind farm, comprising four 4.5 MW and two 5 MW wind turbines. The construction of these wind projects will mobilise suppliers and local employment, with more than 150 professionals estimated to be hired. Once in operation, the parks will generate enough clean energy to supply the equivalent of 70,000 households and avoid the emission of 39,200 tonnes of CO2 per year. Other Iberdrola initiatives in the region will be associated with innovation and value chain development projects in sectors of the future. The company, together with Fertiberia, is developing a comprehensive plan to address a new technological challenge, the production of hydrogen for the manufacture of ammonia at Fertiberia's plants in Palos de la Frontera, Huelva. The alliance aims to place Spain at the forefront of green hydrogen in Europe and make it a technological benchmark. To develop the comprehensive plan - which will require European recovery funds - investments of 1.8 billion euros will be mobilised by 2027. Leading the fight against climate change Iberdrola continues to make progress with its sustainability strategy, based on the electrification of the economy and oriented towards the fight against climate change and the creation of wealth and employment in the communities in which it operates. The company, the main partner through ScottishPower of COP26, which will be held in Glasgow between 31 October and 12 November 2021, plans to invest 150 billion euros until 2030, and therefore remain at the forefront of the energy revolution facing the world's leading economies. The company is moving forward with its historic €75 billion investment plan until 2025 and consolidating its business model, based on more renewables, more grids, more storage and more smart solutions for customers. After twenty years promoting the energy transition, Iberdrola is the leader in renewable energy in Spain, with an installed capacity of more than 19,000 MW of renewable energy by September 2021; a volume that in the world amounts to almost 37,300 MW, making its generation park one of the cleanest in the energy sector. READ MORE
