News
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28/12/2022We team up with Basque startup Woza to shield our power lines from climate change Iberdrola has signed a partnership with Bilbao, Biscay-based Woza Labs to protect its power lines from climate change. The startup will use its expertise to develop digital solutions, such as geographic information systems and satellite image analysis, which will enable Iberdrola's network business to predict, plan and quantify climate risks that may cause damage to network assets. Woza Labs is the winner of the challenge launched in October by Iberdrola through its PERSEO startup programme . The Basque company will design a programme to determine how climate change and its derivatives - strong winds, torrential rains, Filomenas - may affect Iberdrola's grids. This will allow the company chaired by Ignacio Galán to prioritise grid investments or reforms to mitigate these risks. The aim is to scale this type of solution to the geographies where the group operates. Distribution lines are one of the pillars of the electricity system worldwide, and even more so with the integration of renewable production, the drive for energy efficiency and the improvement of the quality of supply. Iberdrola, with 1.1 million power lines, aims to reduce faults in distribution networks in forest environments, most of which are due to falling trees and branches caused by weather phenomena caused by climate change. The distribution grid, due to its extension and the new environmental threats, requires investments to improve its resilience, so that it is prepared to face these threats. The grid business is crucial for Iberdrola, which announced at its Capital Markets & ESG Day held on 9 November that it will allocate 57% of the total €47 billion in investments planned between 2023 and 2025 to this area (around €27 billion). The improvement of distribution lines is the way to change the traditional way of supplying electricity unidirectionally - from the transmission grids to the consumption points - to one that acts as an intelligent and interactive platform. Thus, this infrastructure will be able to integrate more renewable generation, and provide greater capacity for new associated innovations, such as electric vehicles, self-consumption or the electrification of heat, among others. The challenge has been launched within the framework of BiOK!, the meeting place offered by BEAZ (an entity of the Department of Economic Promotion of the Provincial Council of Bizkaia) for the generation of new business opportunities, in collaboration with Iberdrola's new smart grid innovation centre, the Global Smart Grids Innovation Hub. Iberdrola has transmission and distribution power lines in the United States, Brazil, the United Kingdom, and Spain. This network consists of more than 4,400 high to medium voltage substations and more than 1.5 million medium to low voltage distribution transformers, built and operated to provide a high quality and reliable service to a total of 31 million electricity supply points. The driving force behind energy startups This year, Iberdrola celebrates 15 years of innovation in the energy sector through its PERSEO startup programme . This has helped the utility to launch innovative solutions to promote renewable energies, decarbonisation and electrification of the economy, digitalisation of grids, promotion of efficient storage and care for the environment. The initiative, with eight companies currently in its portfolio, has created a global ecosystem of startups over the years with an investment of more than €100 million. The programme's ecosystem includes more than 7,500 startups, including unicorns - companies valued at more than $1 billion - such as electric vehicle charging solutions manufacturer Wallbox and Stem, which offers smart battery storage solutions. Pilot projects give startups access to large volumes of data and real energy assets by testing their technologies in a real-world environment, while at the same time offering investment to startups with the highest growth potential. These two formulas provide insight into the market and access to key technologies first-hand. READ MORE
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27/12/2022Schoolchildren of Innobasque's FIRST LEGO League Euskadi learn how smart grids work at the Iberdrola Hub Under the slogan, "The electricity grid becomes smart", a group of children - aged between 10 and 11 - participating in the Kidegune programme in Basurto, developed by the Bilbao City Council, had the opportunity today to learn about Iberdrola's Global Smart Grids Innovation Hub , located in Bilbao. This learning session, given by i-DE Redes Eléctricas Inteligentes (distributor of the Iberdrola Group) and organised by the Basque Innovation Agency, Innobasque, is part of the FIRST LEGO League Euskadi training programme, a pioneer in Spain, and has allowed the participants to learn first-hand about the ecosystem of this centre, which is dedicated to the coordination of projects to promote innovation in smart grids. During the visit, guided by Noemí Alonso, director of the centre, the students were accompanied by the general director of the Basque Innovation Agency, Innobasque, Leire Bilbao; the councillor for Youth and Sport of Bilbao City Council, Itxaso Erroteta; and the director of the Northern Region of i-DE, of the Iberdrola Group, Javier Arriola. This session is part of a comprehensive training programme organised by Innobasque as part of the FIRST LEGO League Euskadi, in which more than 2,100 students - 60% more than last year - and 15 companies, universities, technology centres and institutions are taking part, to help participating teams and students in general to find out what is being done in the Basque Country in the field of energy, the challenge of this edition, and thus prepare their challenge for the final. The Hub is directly related to the challenge that the participants in this year's FIRST LEGO League are facing: energy. Today's visit is a great opportunity to inspire the schoolchildren to create the innovative projects that they will present at the FIRST LEGO League Euskadi final on 4 March. Organised by the Basque Innovation Agency, Innobasque, together with the University of Deusto, Fomento de San Sebastián and Mondragon Unibertsitatea , FIRST LEGO League Euskadi is the benchmark STEAM education programme in the Basque Country that encourages young people's interest in science and technology. According to Javier Arriola, i-DE's Northern Region Director, "the Hub was born with the philosophy of being an innovation hub to create the electricity grids of the future based on the collaboration of companies, institutions, universities....and the future lies precisely in the hands of these students who will lead their use and implementation", and he added, "to awaken this interest and generate this talent from an early age, we believe it is very important to bring them closer to them empirically, to explain the technology used, and for them to learn and experience how it works on a real scale, and the Iberdrola Hub is the perfect place for this". Iberdrola is one of the companies promoting this knowledge, together with Arteche, BCAM - Basque Center for Applied Mathematics, Bilbao Kirolak - Bilbao City Council, Bilbao Portlab, CIC energiGUNE, Energy Cluster, EPowerLabs, Ente Vasco de la Energía - EVE, Fomento de San Sebastián, Mondragon Unibertsitatea, Ormazabal, Tecnalia, University of Deusto and UPV/EHU. The experience of visiting the Hub The Innovation Hub has different laboratories in which to test and speed up developments. Thus, the students have had access to a laboratory for digital energy meters which, unlike analogue meters, allow remote collection of household consumption data, facilitate the detection of faults and, in short, make it possible to offer a better customer service and promote more efficient consumption. Another of the laboratories that the students visited was aimed at applying new technologies in the field of prevention. The laboratory has a virtual reality station that allows operators to carry out training or measurements of substations without having to go to a potentially dangerous place. At the centre is the R0V3RT robot, equipped with various visual, thermal and auditory sensors, capable of performing daily inspections of substations and reporting any anomalies. The students also had access to the Hub Campus, consisting of different workshops and open to students and professionals, which is designed to accelerate collaboration and innovation in order to attract talent. READ MORE
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27/12/2022We get the environmental green light for onshore wind farm with world's most powerful wind turbines Iberdrola has obtained a favourable Environmental Impact Statement (EIS) for the development of one of its wind projects in Spain - the Iglesias wind farm in Castilla y León - which will have the world's most powerful onshore wind turbines manufactured by Siemens Gamesa - the first 5.X platform equipment in Spain. The company is adapting this new wind energy production facility, which will have a capacity of 70 megawatts (MW), to meet all environmental requirements. It will also generate enough clean energy to supply more than 66,000 homes per year and will prevent the emission of 32,000 tonnes of CO2 into the atmosphere per year. With an investment of approximately €72 million, the construction of this wind farm will have a significant local component, as it will employ civil works companies, such as the Burgos-based Copsa, labour, transporters, suppliers of raw materials (aggregates, concrete, steel, prefabricated products, etc.), cranes, auxiliary means, etc., as well as the promotion of industrial suppliers. It is expected that up to 260 professionals will be involved in the project during peak work periods. It will also have a regional vision, the nacelles will be assembled at the Siemens Gamesa plant in Agreda (Soria) and the gearboxes for the wind turbines, with 6 MW and 170 metres of rotor, will be manufactured in Lerma (Burgos). Various regional and national suppliers will also be responsible for producing different components, such as the wind turbine towers in Avilés and Linares. Competitive energy and environmental balance Iberdrola has fully integrated the conservation of the biological diversity of ecosystems into its strategy, demonstrating that the supply of competitive, clean, and sustainable energy can effectively coexist with environmental balance. In this way, the company continues to implement solutions to promote the coexistence of renewable facilities and the habitats in which they are developed. Iberdrola will implement various initiatives at this wind farm to improve the visibility of its wind turbines and deter the presence of certain species of birds in the area, installing bird detection equipment to avoid any collisions. A new energy landscape that fixes population in rural areas With this new wind farm, Iberdrola will reinforce its commitment to Castilla y León, which is consolidating its position as a major centre for renewable developments in the company's investment cycle to 2025, where it already manages more than 5,100 MW, making it the autonomous community with the most 'green' megawatts installed by the company. Iberdrola promotes renewable energies as an engine for rural development and in this way the villages emerge as a guarantee for the future. This is the case of the villages of Castile and Leon, surrounded by wind farms and photovoltaic plants that Iberdrola is promoting and which will contribute to a sustainable recovery, allowing the creation of local employment. In the province of Burgos alone, Iberdrola has recently built or is developing more than 550 megawatts between seven wind farms. The company is currently immersed in the construction of the Valdemoro and Buniel wind farms, and has recently started up its first photovoltaic plant in Castilla y León -Revilla-Vallejera-. READ MORE
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22/12/2022EIB finances our first solar plants in Portugal The European Investment Bank (EIB) and Iberdrola have signed a new agreement to accelerate Portugal's energy transition via the development of new renewable energy plants. The EU bank will provide a €70 million green loan for the construction of a portfolio of projects with a total capacity of around 188 megawatts (MW). These new facilities, awarded at auctions in 2019, will produce green and competitive energy equivalent to the average consumption of more than 65,000 households. In total, more than 150 million euros will be provided for these solar projects. The EIB will finance five solar PV plants and their connections to the grid, located in the Portuguese regions of Algarve, Centro, Alentejo and Lisbon. These projects are mainly located in rural areas, which are considered cohesion regions by the European Union. The financing will go to the followingprojects: Montechoro I and II (37 MWp), Alcochete I and II (46 MWp), Algeruz II (27 MWp), Conde (14 MWp) and Carregado (64 MWp). The financing will also include ancillary infrastructure such as access roads, substations and interconnections. The investments will boost economic growth and employment in these regions. Overall, the new infrastructure will create around 1,000 direct jobs during the construction phase, in addition to those generated in the wider supply chain. EIB Vice-President Ricardo Mourinho Félix said: "The agreement signed today confirms the Bank’s commitment to support Europe in achieving climate targets. We are pleased to collaborate with Iberdrola in its first ever solar power plants in Portugal which will also generate economic growth and jobs in cohesion regions. This project is an excellent example of the strategic cooperation between the EIB - Europe’s climate bank and Iberdrola - a global leader in renewables, united in supporting the green recovery, the green transition and Europe’s energy security.”." José Sainz, Iberdrola's Chief Financial Officer, explained that: "This collaboration with the EIB is a boost for Iberdrola's projects in Portugal. This comes at a critical time for the energy transition, as more renewables is the only way to reduce our dependence on fossil fuels". The financing signed with the EIB is also in line with "Iberdrola's commitment to support the energy transition in Portugal, where we intend to triple our solar capacity by 2023," said Sainz. This is the second time that the EIB has provided financing for Iberdrola's projects in Portugal, following a previous loan of 650 million euros for the Tâmega gigabattery hydro project. Portugal, a strategic country for energy transition Recently, Iberdrola's executive chairman, Ignacio Galán, reinforced the company's plans to support the energy transition in Portugal. By the end of 2023, the group's investments in Portugal will have exceed 2 billion euros. The company plans to allocate an additional 3 billion euros in the coming years for new solar, wind and storage projects, as well as new solutions such as green hydrogen. Iberdrola operates the Tâmega gigabattery in Portugal, the largest clean energy initiative in the country's history with an investment of more than 1.5 billion euros, three dams and three power plants (Gouvães, Daivões and Alto Tâmega). In total the project has a storage capacity of 40 million kWh, equivalent to the average daily energy consumption of 11 million people. In addition, Iberdrola already operates 92 MW of wind power in Portugal, acros three wind farms. These include Catefica, in the municipality of Torres Vedras, with 18 MW; Alto do Monção, in Mortágua and Tondela, with 32 MW; and Serra do Alvão, in Ribeira de Pena, with 42 MW. Together, these plants produce 200 GWh per year, equivalent to the electricity used by 35,000 households. EIB and energy security Over the past decade, the European Investment Bank has channelled nearly 100 billion euros into the EU's energy sector. These timely investments are now helping Europe weather the crisis triggered by the abrupt cut-off of Russian gas supplies. In the first nine months of this year alone, the EIB has signed financial support totalling more than EUR 8.3 billion for energy efficiency, renewable energy, electricity and storage projects within the EU, helping to strengthen the resilience of the European economy. In October 2022, the EIB's Board of Directors decided to raise the Group's clean energy financing volumes to record levels in support of REPowerEU's goal of ending Europe's dependence on Russian fossil fuel imports. An additional EUR 30 billion will be invested over the next five years, adding to the EIB's already strong support for the EU energy sector. The specific REPowerEU package is estimated to mobilize an additional EUR 115 billion in additional investments by 2027, thus making a substantial contribution to Europe's energy independence and to the EIB Group's objective of mobilizing EUR 1 trillion in climate finance this. More information on the EIB’s Support for energy can be found here and the latest energy projects that have been financed here . Iberdrola, extending its financing channels At the end of September 2022, Iberdrola’s green financing, or financing linked to sustainability criteria, amounted to close to 45 billion euros, of which almost 16 billion euros relates to green bonds. This financing strategy is supporting the company’s record investment plan, which will see investments of 47 billion euros globally by the end of 2025, aimed at increasing its renewable capacity to 52,000 MW and enhancing the value of its network assets to 56 billion euros. As outlined at the company’s recent Capital Markets Day, Iberdrola is diversifying its sources of financing. In addition to traditional sources of finance, the group now also collaborates with Export Credit Agencies, development banks and multilateral agencies, with which it aims to raise up to €11 billion by 2025. The new investments planned for the 2023-2025 period allow Iberdrola to forecast gross operating profit (EBITDA) of between €16.5-17 billion by 2025, representing average annual growth of between 8% and 9%. In addition, the company estimates that net profit will increase to between 5.2 and 5.4 billion euros by 2025, representing average annual growth of between 8% and 10%. READ MORE
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22/12/2022We complete a deal to divest non-core private network asset in UK Iberdrola, through its UK business SP Energy Networks, has signed a deal with SSE Utility Solutions Ltd, to divest non-core, non-regulated assets in South Wales. The sale relates to a small privately managed electricity network in Newport, which connects to two industrial clients and includes one grid supply point. The sale has received the required government approval. The private connection is not part of SP Energy Networks’ licensed distribution networks, which are located in Merseyside and North Wales, as well as central and Southern Scotland. This transaction marks the beginning of a strategy to support Iberdrola’s recently announced record €47 billion investment plan for the period 2023 – 2025, which includes the rotation of some non-core assets. As part of the investment plan, approximately €27bn will be allocated to electricity networks globally. The company´s networks asset base will increase to €56bn in the next three years. In the UK, ScottishPower will invest €3.8bn to 2025 in its networks business to deliver a smarter and more robust grid to support the energy transition. Currently the company manages more than 43,000 km of overhead power lines and 65,000km of underground cables across its distribution and transmission networks, connecting more than 3.5 million homes and businesses. READ MORE
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19/12/2022Iberdrola partners with ABEL Energy on green hydrogen and methanol project in Tasmania Iberdrola Australia and hydrogen developer ABEL Energy will build a green hydrogen and green methanol production plant at Bell Bay in northern Tasmania (Australia). The project, called Bell Bay Powerfuels, is backed by the Australian government. It is expected that Bell Bay Powerfuels will produce 200,000 tonnes of green methanol per year in its first phase of development, rising to 300,000 tonnes in its second phase. This will make the project one of the largest in the world. Green methanol will supply the shipping market as well as other applications. From 2021, the world's leading shipping companies are opting for large ships designed to run on ultra-clean-burning green methanol. This decision has major benefits, such as eliminating air pollution in ports, avoiding environmental disasters due to oil spills in marine environments, and reducing greenhouse gas emissions currently generated by the use of fossil fuels. The construction of the future plant, which combines investment in renewable generation with investment in green hydrogen capacity, and is characterised by a collaborative approach to creating long-term value for the Tasmanian community, will rely on the best technology in the world and will create 500 jobs. Of these, 200 direct and indirect jobs will be locally recruited. "Iberdrola Australia's investment in the Bell Bay Powerfuels Project demonstrates our commitment to helping Australian businesses reduce their carbon emissions in sectors where historically, both technically and economically, it has been more difficult to make this transition. We are delighted to be able to combine Iberdrola's global expertise in green hydrogen technologies with ABEL Energy's local knowledge and commercial drive," says Ross Rolfe, CEO and Managing Director of Iberdrola Australia. "Together with Iberdrola, we look forward to driving green hydrogen to commercial scale in Australia and establishing a new climate technology industry that will benefit the Tamar Valley community and its future generations. We are delighted to have Iberdrola's support as a financial partner and as an expert in building and operating large-scale renewable energy in Australia and around the world," says Michael van Baarle, co-founder and CEO of ABEL Energy. Commitment to green hydrogen Iberdrola is developing 60 renewable and green H2 initiatives in eight different countries. Its goal is to reach 35,000 tonnes of hydrogen per year by 2025 and more than 350,000 tonnes per year by 2030. To this end, the company has a project portfolio of 2,400 MW in different regions, mainly in Spain, the United States and Australia. As it did with renewables 20 years ago, the company has become a 'first mover' in this new technological challenge that involves the production and supply of green hydrogen. Iberdrola is thus at the forefront of this new renewable revolution, supporting industry in reducing its polluting emissions. The use of hydrogen should focus on applications where there are no other alternatives. That is, for the replacement of grey hydrogen (produced from fossil fuels) with green hydrogen (produced by renewables) in sectors where it is currently used, such as fertilisers, methanol or refineries. Leader in Australia Iberdrola has made a strong commitment to the Australian energy market from 2020 with the acquisition of Infigen Energy, Australia's leading renewable energy company. The company will invest between 2 and 3 billion euros in Australia with the aim of boosting the switch to renewables in the country and reaching 4,000 MW in the coming years. The bid adds to the $2 billion invested by the company so far in projects such as the Avonlie solar farm and the Flyers Creek wind farm in New South Wales, and the Port Augusta renewable energy farm in South Australia, the largest hybrid wind-solar farm in the southern hemisphere. Iberdrola acquired in the first half ot his year the rights to the world's largest wind farm at Mount James, with 1,000 MW, the 360 MW Broadsound photovoltaic plant in Queensland and has invested in a smart solutions business, Autonomous Energy, which offers tailored energy products for commercial and industrial companies. The company has currently installed 1,122 MW of renewables (wind, solar and batteries). In addition, it is building two new facilities with a combined capacity of 391 MW, which are scheduled for commissioning in 2023. Underlying all these investments is a commitment to put customers at the heart of the energy transition, providing them with reliable, affordable and environmentally friendly energy. Industrial customers served by the company include some of Australia's most iconic brands, such as mining company BHP and supermarket chain Woolworths. Earlier this year, Iberdrola set up its networks business in Australia, as the country's electricity grids, mainly transmission infrastructure, will need to be dramatically expanded to capture wind and solar resources and transport power to coastal population centres. Federal and state government initiatives have created a climate of confidence for foreign investment to develop new renewable generation and transmission projects. READ MORE
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19/12/2022Ignacio Galán shares with the Lehendakari our commitment to economic development and employment in the Basque Country The Lehendakari (President) of the Basque Government, Íñigo Urkullu, and the Executive Chairman of Iberdrola, Ignacio Galán, reaffirmed today at the headquarters of the Basque Government - Lehendakaritza - in Vitoria-Gasteiz the company's vocation to contribute to economic development and employment in the Basque Country. This is borne out by the figures that link Iberdrola to this region. In 2022, the Basque company's activity in the Basque Country generated a socio-economic impact of more than 2,700 million euros generated by its activity in the autonomous community, 30% higher than last year. In this regard, this year alone, Iberdrola made purchases and contracted services from 600 Basque suppliers for a value approximately €1.7 billion. On the other hand, the fiscal impact of the economic activity carried out by the company in the Basque Country last year exceeded 400 million euros and investments reached €200 million. Iberdrola contributes more than 2% of the total Basque GDP. Ignacio Galán has presented Iñigo Urkullu the Basque company's Strategic Plan , presented in London last November, which will involve investments of €47 billion over the period 2023-2025 to promote the energy transition, employment and net zero emissions. Iberdrola's Executive Chairman has announced to Íñigo Urkullu that thanks to this plan Iberdrola's economic contribution to the Basque Country will reach €10 billion between 2022 and 2025, mainly in investments, purchases, salaries and tax revenues with an increase of 15% compared to the previous four-year period. Iberdrola thus reinforces its role as one of the main drivers of activity in the Basque Country. The Executive Chairman of Iberdrola, Ignacio Galán, said: "Iberdrola's activity in 2022 and our plans for 2025 demonstrate that electrification is a great opportunity to continue making the Basque Country a benchmark for industrial development, openness to the outside world, innovation and quality employment. Iberdrola today reaffirms its commitment to the industrial fabric and society of the Basque Country. Our global growth is the driving force behind the internationalisation of hundreds of Basque companies, which have been demonstrating for years their ability to provide competitive products and services of the highest quality all over the world". READ MORE
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19/12/2022We are launching a compliance platform with blockchain technology jointly with the Association of Registrars, Deloitte and the Institute of Compliance Officers Iberdrola, the Association of Property and Commercial Registrars of Spain, Deloitte, and the Institute of Compliance Officers (IOC) have developed a new platform with blockchain technology to publish compliance systems documentation. This system, which will be accessible via the web and managed by the Association of Registrars, will allow reliable and simple consultation of information on the compliance systems of those companies that voluntarily wish to make this information public. The new Platform, which will be available in June 2023, will facilitate the exchange of information between companies during due diligence processes related to compliance risks. As companies will be able to voluntarily publish the documentation of their compliance systems in a structured way, it will be possible to replace the current costly process of sending and receiving information, which currently has to be done manually on a company-by-company basis, with a simple consultation of this digital platform. The use of blockchain technology guarantees the immutability of the deposited documentation, as well as its creation or modification date, and allows full traceability of each document. This aspect is of particular importance for compliance officers since, thanks to this record, it will be possible to prove the existence of a compliance system on a specific date during a possible legal process. At all times, each company will be able to control which documentation it wishes to make public without any type of restriction or if, on the contrary, access to certain documents requires its express authorisation, once the request has been received from another user. In addition, to ensure that users are authorised to act on behalf of a company or organisation, the platform will automatically carry out the appropriate checks at the Companies Registry. Iberdrola has been the creator, promoter and funder of this project aimed at promoting transparency and the development of compliance systems in Spain. Deloitte acts as an expert collaborator in regulatory compliance and technology and the IOC, in addition to providing methodological support, promotes the dissemination of this Platform among the professional community. The Association of Property and Commercial Registrars of Spain, as a public law corporation, is even more committed to one of its essential functions, which is the strengthening of legal security and certainty in legal transactions. READ MORE
