News
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08/11/2021Nicola Sturgeon, prime minister of Scotland, told Ignacio Galán: "Iberdrola sets an example for green hydrogen production and the decarbonisation of the country" "Iberdrola sets an example for green hydrogen production and the decarbonisation of the country". That was the message received by Ignacio Galán, the chairman of Iberdrola, from Scottish Prime Minister Nicola Sturgeon, at a meeting held this morning as part of the COP26 Climate Summit, which will continue until 12 November. Several months ago, the company led by Ignacio Galán submitted an application to build a green hydrogen plant alongside its Whitelee wind farm, a facility that will house the UK's largest electrolyser, with 20 MW. Regarding the Spanish businessman, the prime minister said: "we first met more than 15 years ago and he has always kept his word and supported Scotland and the people of Scotland. We are delighted to have you here and with your commitment to the Scottish people". The facility, which will be developed by Iberdrola subsidiary ScottishPower, will include a hybrid solar energy system that will power the electrolyser, and a battery storage system with a maximum capacity of 50 MW. The facility will be able to produce up to eight tonnes of green hydrogen every day, the equivalent to the daily fuel needed by 550 buses to make round trips between Glasgow and Edinburgh. The project is the first green hydrogen plant to be built by "Green Hydrogen for Scotland", an alliance between Iberdrola subsidiary ScottishPower Renewables, BOC, and ITM Power, with the aim of creating a green hydrogen production network and offering turnkey market solutions to reduce emissions in difficult-to-decarbonise sectors of the economy such as, for example, heavy transport, urban transport (buses) and waste collection vehicles. The first project will help to prevent emissions from heavy public transport and improve air quality in the Glasgow metropolitan area and aspires to transform it into the UK's first zero-emissions municipality in 2030, creating, among other initiatives, a zero-emissions fleet of vehicles, using solely electric and hydrogen-powered vehicles. Leading decarbonisation As part of its commitment to spearhead the energy transition, Iberdrola is leading the development of green hydrogen with more than 60 projects in eight countries (Spain, the United Kingdom, Brazil, the United States, among others), satisfying the need for the electrification and decarbonisation of sectors such as industry and heavy transport. The company has created a new green hydrogen business unit with which it has set out to position itself as a global leader in this technology. The group is at the leading edge of the new technological challenge of producing and supplying green hydrogen from clean energy sources, using 100% renewable electricity in the electrolysis process. Green hydrogen is a major vector of growth within Iberdrola's 150-billion-euro investment plan to 2030. Iberdrola is already developing several projects that will enable the decarbonisation of industry and heavy transport in Spain and the UK as well as developing its value chain. The group already has a green hydrogen portfolio that will require investments of more than three billion euros to 2030 to produce 134,000 tonnes per year. The company has also presented 54 projects to the Next Generation EU programme, which will mobilise investments of 2.5 billion euros to achieve an annual production of 60,000 tonnes of green hydrogen per year. In addition, in recent weeks, the Renewable Hydrogen Coalition has strengthened its leading role with the appointment of the Iberdrola Group chairman and CEO, Ignacio Galán, to the position of president of the alliance, with the founder and CEO of Sunfire, Nils Aldag acting as vice-president for the next 18 months, in order to shape the necessary regulatory framework in the European Union. Galán and Aldag will contribute their experience in renewables and electrolysers to coordinate the coalition's efforts to ensure that, based on suitable policies, renewable hydrogen will become a competitive alternative to conventional hydrogen during this decade. READ MORE
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08/11/2021John Kerry and Ignacio Galán emphasise the critical role that business plays in achieving climate goals Former Secretary of State and current US Special Envoy for Climate Change, John Kerry, and Ignacio Galán today paid tribute to the important role the private sector plays in helping countries achieve their climate and decarbonisation goals. Kerry met today in Glasgow as part of COP 26 with executives from major companies that have contributed greatly to the United States in this regard, including the head of Iberdrola, Ignacio Galán. Iberdrola, a leader in the development of offshore wind energy and the third largest player in onshore wind energy, is contributing to this green transition. Participants at the meeting agreed that private enterprises should set ambitious goals and work hard to accomplish them, as Iberdrola has done as part of the Europe 2030 plans by becoming the company with the lowest emissions among the world's largest utilities. Companies should build cross-sector coalitions to enable a rapid transition, as Iberdrola has done with other companies. At the most recent climate summit in Madrid, Iberdrola's CEO and John Kerry were able to discuss the global goals that businesses should pursue in regard to climate change, as well as the private sector's role in accelerating the decarbonisation of the economy. READ MORE
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05/11/2021Iberdrola starts erecting Spain's most powerful wind turbines in Andalusia Iberdrola has started building the El Puntal II wind farm, a 15 MW facility in Málaga (southern Spain), which will house the company's largest and most powerful wind turbines in Spain. This is the first wind farm the company is building in Andalusia in this new round of investment. El Puntal II will consist of three wind turbines with 145-metre rotors and a total height from ground to blade of 163.5 metres, similar to the Torre Iberdrola building in Bilbao. The new facility will be integrated into a wind complex with three farms between the provinces of Málaga and Seville, with a total power of 79 MW. The other two plants will be installed near El Puntal II in Seville province; Martín de la Jara with 36 MW on which production is about to begin, and San Cristóbal, with 28 MW, for which administrative authorisation is still pending. The main components of the wind farm - the towers, nacelles, transformers and generator - are of domestic origin. What's more, around a hundred jobs will be generated on the construction site. Once up and running, El Puntal II will prevent the emission of 6,000 tonnes of CO2 and will supply clean energy to almost 12,500 households. Iberdrola is making strides with its renewables investment plan to drive the energy transition and, with it, the recovery of the economy and jobs. READ MORE
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05/11/2021Iberdrola reaffirms its leadership in PPAs with more than 4,000 MW in renewable energy tied to long-term contracts. Iberdrola continues to strengthen its leadership position in renewable energy tied to long-term bilateral contracts. The company now has more than 4,000 megawatts (MW) of renewable energy tied to contracts with large companies in the United States, Spain, Mexico, Brazil, the United Kingdom and Australia for the sale of long-term power purchase agreements (PPAs). In recent years, the energy company has pushed ahead with these contracts and signed agreements with more than 50 multinational companies, including the 5 major big tech companies: Google, Amazon, Apple, Facebook and Microsoft. This type of agreement creates many opportunities for the development of renewable energy projects, transforming the present and future of energy in our country and contributing to the economic recovery. Long-term energy purchase and sales contracts provide stability to investments and have also become an optimal tool for managing the electricity supply of large consumers who are committed to clean and sustainable consumption. The PPAs demonstrate the competitiveness of renewable energy and their ability to supply energy at affordable and stable prices. Supporting decarbonisation in Spain The group led by Ignacio Galán started with the long-term renewable energy contract model in the United States, where it is the third largest renewable energy operator in the US through its subsidiary AVANGRID. The group began developing this type of contract more than a decade ago and today has signed PPAs with more than 10 US companies on the other side of the Atlantic. In Spain, the company has pioneered this type of contract with companies from different sectors: For example, in the banking, telecommunications, brewing, distribution, sports brands and pharmaceuticals industries. One of the most recent agreements has been that signed with Danone España , which joined forces with Iberdrola to develop Europe’s largest photovoltaic plant. The agreement guarantees long-term green electricity supplies for Danone production plants and mineral water abstraction wells in Spain, which are in Asturias, Barcelona, Girona, Guadalajara, Granada, Madrid and Valencia; as well as its logistics centres and offices. Danone’s suppliers, Graham Packaging and Salvesen Logística, are also taking part in this alliance. More information: What is a PPA, and what are the main benefits? 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, which through ScottishPower is the main partner of COP26 to be held in Glasgow from 31 October to 12 November 2021, is a leader in green and sustainable finance with €35.8 billion and the first corporate issuer of green bonds in the world. 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 energy, 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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04/11/2021Iberdrola develops Windanker, its third offshore wind farm in the Baltic Sea, with €800 million planned investment Iberdrola remains committed to the deployment of renewables in international markets. Its third offshore wind project in the Baltic Sea, Windanker, will have 300 MW installed capacity and €800 million total investment. The project will reinforce the company’s Baltic Hub in Germany which also includes the operational Wikinger offshore wind farm (350 MW) , and Baltic Eagle (476 MW), under construction. Following a total investment of some EUR 3.5 billion, the Hub will have an installed capacity of over 1.1 GW by 2026, underpinning the company's strategic focus in the Baltic Sea. On November 4th, the Federal Network Agency (Bundesnetzagentur) confirmend that the Windanker GmbH, a subsidiary of Iberdrola, has exercised its right of entry to the pre-developed site. O-1.3. Iris Stempfle, Managing Director of Iberdrola Renovables Germany, emphasises: "With this third offshore wind farm project in Germany, Iberdrola is underlining its commitment to Germany as one of the strategically important markets. The realisation of Windanker on a zero-bid basis confronts us with challenges due to the special conditions in the Baltic Sea. We are able to master these challenges through synergies with our Baltic Hub. But until offshore wind energy is fully integrated into the market, we consider an intelligent transitional market design to be necessary." Thanks to the experience already gained in the Baltic Sea and by using latest wind technology, such as multi-MW turbines (15MW class), Iberdrola will operate the Windanker wind farm highly efficiently. Further advantages could result from the almost simultaneous construction with the East Anglia Hub in the UK and from further planned projects in the European Baltic Sea. Windanker will come on stream in 2026 and will be the first offshore project in the German Baltic Sea at market conditions. Most of its electricity output is expected to be allocated to long-term power purchase contracts in the German market. Prime Minister of Mecklenburg-Vorpommern Manuela Schwesig said: “We need more offshore wind farms for the energy transition to succeed. This is an economic opportunity for Mecklenburg-Vorpommern. The construction and operation of the wind farm will create additional jobs. Additionally, we have the opportunity to locate climate-friendly industries in Mecklenburg-Vorpommern in the upcoming years that produce on the basis of wind power." Global leader in offshore wind Iberdrola is leading the world in the development of offshore wind, with operating assets and a project pipeline of approximately 38,000 MW globally. The company is focused on countries with ambitious offshore wind targets and clear routes to market. Europe: Iberdrola is at the forefront of the European offshore market with 1,300 MW of operational capacity in Germany (Wikinger) and the UK, (East Anglia ONE and West of Duddon Sands), and just under 1,000 MW under construction in Germany (Baltic Eagle) and France (St. Brieuc). Additionally, Iberdrola manages a substantial pipeline with further projects proposed in the UK, France and Germany, as well new growth markets such as Ireland, Sweden, Poland and Denmark. US: Iberdrola is a leader and a pioneer in the US offshore market. Recently, the 800 MW Vineyard Wind 1 became the first US offshore wind project to achieve financial close, with construction starting in the coming weeks. As well as retaining the right to take control of the Vineyard project during the operational phase, the company is also accelerating the development of over 2,000 MW of capacity with Park City Wind and Commonwealth Wind. Iberdrola`s Avangrid Renewables is also the sole owner of the Kitty Hawk development area in North Carolina, which has a potential capacity of 2,500 MW. The BOEM permitting process has been initiated for the 800 MW Kitty Hawk North project, the first project to be developed in the area. Iberdrola`s Avangrid Renewables is also managing additional projects in an earlier stage of development. Rest of the world: Iberdrola is accelerating its offshore expansion in other regions including Asia, with a significant pipeline of projects in Japan and Taiwan, as well as other emerging markets such as Brazil. Investing in the energy transition The company has launched a record investment plan of €150 billion over the next decade – €75 billion by 2025 – which will enable the company to triple its renewable capacity and double its smart grid assets, maximising the opportunities of the energy revolution. With an investment of €120 billion over the past twenty years, Iberdrola is a leader in renewable energy with more than 37,300 MW of installed capacity, a volume that makes its generation fleet one of the cleanest in the energy sector. Its investment strategy in green energy and smart grids will enable it to be "carbon neutral" in Europe by 2030. READ MORE
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04/11/2021"We have the technology, social consensus and financial resources, but we need to be faster when it comes to decarbonisation" Iberdrola group chairman Ignacio Galán took part in The New York Times Climate Hub meeting organised in the context of COP 26 which is currently taking place in Glasgow. The panel discussion dealt with the most urgent questions of our time: How can we adapt and prosper on a warming planet? During the interview, Galán emphasised the following ideas: * "The world has the technology, the social consensus and financial resources needed to achieve the energy transition, but political leaders and financial institutions, the business sector and consumers need to act together to make it happen and speed up the change.” * "We have to move from words to deeds. We have to move more quickly to decarbonise. Time is running out! * He said that "stable, predictable regulation and legal security are needed to speed up investment in more competitive renewable energies, storage and networks, the three essential elements to make the energy transition a success". * It has been 20 years since Iberdrola started doing things differently. "In those years, clean energy was not considered a solution, but we drafted a revolutionary business plan that entailed generating energy differently. We came up against a lot of opposition from competitors. Investors and regulators did not understand this movement. But we were certain that we were on the right road, and we were right". READ MORE
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04/11/2021"You can invest in clean energy and be a successful electricity company at the same time" Ignacio Galán, the chairman of the Iberdrola Group, gave an interview to the US network Bloomberg on the occasion of his participation in the United Nations Climate Change Conference (COP26), in which he emphasised the following points: * In the last 20 years, Iberdrola has closed all its coal and fuel oil power plants, proving that it is possible to invest in clean energy and be a successful electricity company that also defends the interests of its investors. * The biggest issue for companies and investors is the length of time it takes to get official approvals for renewable energy projects. This problem requires immediate attention. * We cannot make structural decisions because of the current price scenario. Gas prices will soon fall; in fact, forward prices for next year are half the current prices on the spot markets. * It is not true that electricity companies have benefited from the price crisis. The company has just presented results and the customer area has incurred losses as a consequence of high energy prices where sales to customers are closed at fixed prices. * Customers with fixed contracts have saved more than €2 billion through having their prices maintained, as opposed to the costs they would have had to pay through the high pool prices. * The European energy market has a number of very good qualities that we must maintain: the system of emissions trading and carbon pricing, the design of the market itself and the bilateral agreements that allow both parties to create certainty. * It would be ideal if a scheme for establishing a global carbon price were approved at COP26. * The decarbonisation targets announced by India offer new business opportunities for Iberdrola. READ MORE
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04/11/2021Iberdrola receives the Terra Carta Seal for its contribution to the fight against climate change Prince Charles of England has awarded the Terra Carta Seal to Iberdrola in recognition of its leadership in matters relating to climate change and sustainability. The award was presented during the programme of activities at the United Nations Climate Change Conference (COP26), which is taking place in Glasgow and is sponsored by ScottishPower. Terra Carta is a personal initiative by the Prince of Wales, launched early this year to speed up the transition towards a sustainable economy. Prince Charles is a long-time environmental crusader who has been advocating for sustainability and conservation for decades, however, Terra Carta is marked by a sense of urgency. Its purpose is to stimulate further action to avert the climate crisis and to draw up a roadmap to accelerate the transition towards an ambitious, sustainable future. The name Terra Carta (Earth Charter) derives from the Magna Carta, a charter of rights signed by the King of England in 1215 and one of the first documents to define human rights. The initiative is aimed primarily at private sector organisations and seeks to call the world's main business leaders to action. Just months after the launch, Prince Charles awarded the distinction to leading global companies that are leaders in terms of sustainability and which have made a proven contribution to the fight against climate change with a clearly defined route toward decarbonisation. READ MORE
