News
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20/06/2022Iberdrola leads solar self-consumption in Spain and manages 40% of installations Iberdrola leads the photovoltaic self-consumption market in Spain, managing 40% of the country's self-consumption customers. As part of its commitment to accelerating the energy transition and developing new products to improve efficiency and energy savings, in 2015 the company became the first company in its sector to integrate self-consumption solutions into its range of services. Iberdrola has consolidated its position as the benchmark company with a 75% increase in its self-consumption portfolio so far this year. Through Smart Solar , the company offers services for all types of customers, from domestic consumers to major industrial customers. In addition, the company has made self-consumption available to any customer, whether or not they have their own roof. In Spain, more than two thirds of the population live in high-rise buildings. To cover this segment, in 2019 the company launched its Solar Communities, through which several users can share their own 100% renewable energy from the same photovoltaic installation. Iberdrola's collective self-consumption solutions include turnkey installations and the possibility of placing the solar panels without prior investment, handing over the roof space to the company and facilitating access to the green energy generated to people living within a radius of 500 metres. The installation of a self-consumption solar system can lead to savings on annual bills of 30% in the case of residents' associations; 50% for companies and businesses; and up to 70% in single-family homes. These savings are produced in three ways: the energy produced by the installation that the user does not have to buy, the compensation for the surplus energy not consumed, which is fed into the grid, and the savings from lower taxes. 14,000 megawatts installed by 2030 The self-consumption market in Spain is currently in a process of accelerated development due to the effects of the increase in gas prices, aid from the European Union's Next Generation funds and the reduction in the cost of photovoltaic panels, among other factors. Iberdrola expects the number of installations to almost triple by 2022, to 170,000, compared to the 65,000 registered at the end of 2021 and the 100,000 currently available. The company estimates that in the coming years even the high penetration scenario described in the Spanish Government's Self-Consumption Roadmap will be exceeded, reaching 14,000 MW installed by 2030. Iberdrola maintains its commitment to continue to be a driver in the coming years of this technology which, in addition to reducing energy bills, protects against potential variations in energy prices, enables its use even at night (with the installation of a battery storage system) and allows the generation of energy free of CO2 emissions. In this regard, the company aims to maintain its current leadership share in this market in the coming years. The development of smart solutions is one of the strategic lines of the Iberdrola group, which expects to reach 40 million contracts with customers worldwide by 2025 with services such as energy storage, heat pumps and electric mobility, in addition to self-consumption. The Iberdrola group's sustainable growth model based on promoting the electrification of the economy through investment in renewable energies, electricity grids and energy storage has enabled it to become a global energy leader and the first in its sector in Europe by capitalisation, with a stock market value of around €70 billion. READ MORE
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17/06/2022Iberdrola's General Shareholders' Meeting backs Ignacio Galán's management by 98% The Chairman of Iberdrola, Ignacio Galán, today addressed the more than 600,000 shareholders of the Company at the General Shareholders' Meeting, which was once again held in person. During his speech from the Iberdrola Tower in Bilbao, he reaffirmed the company's investment commitment to contribute to accelerating the energy transition: "Investments, which have reached 9,940 million euros, have allowed us to grow at a higher rate than expected, confirming the success of our sustainable model aimed at consolidating an emission-free and energy-independent economy", the Chairman assured his shareholders. The quorum was 72.13% of the share capital, which represents a significant increase in the participation of institutional, national and international investors, 6 points more than in 2021. All the blocks of resolutions included in the agenda were supported with an average affirmative vote of 98%, distributed as follows: * Group 1 (management results and auditing of accounts): 98.52%. * Group 2 (governance and sustainability system): 99.93%. * Group 3 (remuneration): 95.78%. * Group 4 (Board of Directors): 99.10%. * Group 5 (authorisations and delegation of powers): 97.85%. Strong performance and growth prospects The consequence of this investment effect and the pace of its activity has been passed on to results and shareholder remuneration. In fact, sales reached 39,114 million euros, an increase of 18% compared to 2020, and the group's operating profit stood at 12,006 million euros, 19% higher than the previous year. In addition, net profit climbed to €3,855 million, up 8% compared to 2020. "It is these excellent results, achieved through the effort, dedication and success of all the professionals who make up Iberdrola, which allow us to be proud of the company that we are today", he said. Since the arrival of Ignacio Galán, the company has gone from being a local electricity company to consolidating its position as Europe's leading electricity company, increasing its size sevenfold in the last twenty years. In addition, the company has managed to multiply its operating profit by almost six times, its net profit by more than four times and its assets by seven times, to more than 141,000 million euros. In relation to the current context, the chairman highlighted Iberdrola's "clear advantages" due to its pioneering work in renewables, green financing and its expansion in stable and attractive markets. In addition, Ignacio Galán stated that one of "the main novelties that we are bringing to this Meeting for approval is the reform of the Articles of Association and the Regulations of the Meeting to consolidate Iberdrola's commitment to its Purpose and Values and to its social dividend". Iberdrola's Chairman also referred to the future: "We maintain our profit forecasts for this year, of between 4,000 and 4,200 million euros". During the presentation, the chairman insisted that Iberdrola has a resilient business model in the current market context: it is highly diversified - 70% of gross margin comes from the international area -, has a solid financial structure - 80% of debt is fixed-rate and long term, with an average of more than 6 years - and purchases with closed or assured prices for 2022, thus avoiding the current tensions in raw materials. The company's activity is clearly less sensitive than others to cycles due to the stability of electricity consumption, and demand is expected to continue to grow thanks to electrification. Moreover, Iberdrola is very diversified geographically: one third of the business is in euros, one third in dollars and 20% in pounds sterling. Most of the revenues are protected from inflation by contracts, especially in the regulated part. Chairman Ignacio Galán explained how the rise in gas prices is negatively affecting the company, as it has fixed price contracts in place for this year, and the rise will not be passed on to customers. During his speech, Ignacio Galán pointed out that Iberdrola has been a pioneer in equality for many years. The company has more than 100 measures for work-life balance and flexibility so that men and women can contribute equally to family life, with employees of 79 nationalities, making it one of the top 10 companies in the world for integration. In this chapter, he highlighted the contribution to women's sport. Two out of every three federated women are supported by Iberdrola. Attractive shareholder remuneration In this context, the General Meeting of Shareholders - at the proposal of its Board - has approved a final dividend of 0.27 euros per share, to be paid in August. This, added to the interim dividend already distributed (EUR 0.17 gross per share), represents a total remuneration of EUR 0.44 per share, 5% higher than that distributed a year earlier. The General Meeting of Shareholders has approved a new programme to buy back own shares in order to reduce the share capital. The objective is to meet the group's commitment to keep the number of outstanding shares stable, on which earnings per share are calculated, at around 6,240 million. To this end, Iberdrola will redeem a maximum of 197,563,000 of its own shares, representing 3.069% of the company's current share capital, including those acquired through the buyback programme. In addition, the shareholders' meeting also approved the participation dividend, which consists of the payment of 0.5 euro cents per share to shareholders - 1 euro for every 200 shares - to shareholders entitled to attend the General Meeting because the quorum of 70 per cent of the share capital has been reached. Shareholders also voted in favour of the proposals for the re-election of Anthony Gardner and the ratification and re-election of María Ángeles Alcalá Díaz and Isabel García Tejerina as independent directors. Following their appointment, 71% of the directors are independent and 43% are women. During the meeting, the Chairman wished to show his support for the Ukrainian company. Galán sent a message of solidarity to the people of Ukraine and his wish for the invasion to end as soon as possible and for freedom and peace to be restored in that country. READ MORE
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17/06/2022The robot Antecursor I sends its scans in real time anywhere in the world Iberdrola and Arbórea Intellbird, the creator of Arachnocopter , presented at the El Torrao substation the robot Antecursor I*, capable of sending its scans in real time to any part of the world thanks to the 5G network. This robot is a revolutionary inspection system that improves efficiency by achieving automatic and digital predictive maintenance of electrical infrastructures, applied in a novel way to transformer substations, offering greater traceability and worker safety. Arbórea Intellbird was promoted by Iberdrola through its Perseo fund for eight years with the aim of promoting its development and consolidating it in the sector. On this occasion, the company has gone a step further and has developed this platform for the autonomous inspection of substations, based on a robot and analysis software. This android bases its automatic movement through electrical installations on a unique process patented by the Salamanca-based technology company, inspired by the hunting strategies of the genet, the nocturnal creature that inhabits our holm oak forests, capable of moving with precision in the dark. The robot automatically captures data from all the critical structures of the substation, thanks to high-resolution visible and thermographic image sensors, and sends it in real time via Orange's 5G network to the "virtual control tower", located in Arbórea's facilities in the Science Park of the University of Salamanca. Once there, this data is processed to build a digital twin and detect, measure and quantify anomalies thanks to the Salamanca software platforms. In addition, the data is sent, also in real time, to various Iberdrola decision centres. The 5G network also makes it possible, if necessary, to take live manual control of the robot - which travels autonomously - in real time. Autonomous monitoring of a substation makes it possible to detect incipient faults more quickly and efficiently, which is also an advantage in the event of an emergency requiring immediate monitoring. In this way, the technology makes it possible to assess damage without the need to travel to the site, resulting in greater efficiency and a significant reduction in costs and CO2 emissions. This new process has been the result of combining Iberdrola's experience in the operation and maintenance of the electricity distribution network with the digital inspection procedures and tools of the Salamanca-based company Arbórea. (*)The antecursors were an elite troop created by Caesar to move in advance of the Roman legions and decide the way forward. Innovation at the service of the energy of tomorrow The automatic supervision of infrastructures is a line of technological development undertaken more than ten years ago by Arbórea, which is currently focusing its efforts on providing efficient and autonomous inspection systems for large offshore wind farms, which are key to Iberdrola's future growth. The Antecursor I robot for substation inspection will be tested, after the demonstration carried out today in Zamora, in Iberdrola's offshore marine infrastructures. This development by Arbórea is supported by several patents held by the company, which is very active in the generation of technological intellectual property, mostly based on biomimetic principles. Biomimetic technology is inspired by designs or mechanisms in nature. In recent years, Arbórea's drones have thoroughly audited more than 4,500 blades at Iberdrola Renovables' onshore wind farms in Spain, Portugal and Mexico. This inspection platform has created digital twins of these thousands of blades, which has considerably reduced Iberdrola's maintenance costs by helping to efficiently discriminate those blades in the worst condition. Iberdrola's firm commitment to entrepreneurship Iberdrola's start-up programme, PERSEO , aims to facilitate the group's access to the technologies of the future and foster collaboration and the development of a global ecosystem of innovative technology companies in the electricity sector. Since its creation, PERSEO has invested 90 million euros in start-ups that develop innovative technologies and business models, focusing on those that improve the sustainability of the energy sector through greater electrification and decarbonisation of the economy . The programme has focused its activities on the analysis of business opportunities and technological collaboration with start-ups and emerging companies around the world, analysing 300 companies each year and creating an ecosystem of almost 7,500 entrepreneurial companies from more than 35 countries. In addition to investment, through PERSEO, Iberdrola carries out more than 25 real tests of technologies per year, which serve as the first step in establishing a commercial relationship with the start-ups. In addition, in the last two years the group has launched more than fifteen challenges in which around 1,000 start-ups have participated. READ MORE
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16/06/2022Iberdrola, the first Spanish company to hold its General Shareholders' Meeting in Metaverse Iberdrola takes another step forward in making a more digital and participatory meeting. Once again, the company is a benchmark in facilitating the monitoring and participation of shareholders not only in person, but also through the main digital channels and the most convenient and useful mobile applications for shareholders. The world leader in renewables is the first Spanish company to allow its General Shareholders' Meeting tomorrow, Friday 17 June, to be followed in the Metaverse, either by immersive view -with virtual reality glasses- or from any computer or mobile phone. The electricity company is once again at the forefront of innovation with this project in which attendees will be able to follow the broadcast of the General Meeting, access, move around and interact with their personalised avatar along with the other participants in the company's own space in this new virtual environment, as well as view videos about the company and its activities. Some of the leading technology multinationals are already developing projects in this new reality. Thanks to the implementation of the Metaverse at this Meeting, the shareholder is immersed in an environment that eliminates the barriers between the real and the virtual. Investors will be able to walk through Iberdrola's virtual world and learn about the company's most innovative projects and the current state of the energy transition. The Innovation Meeting This year the company has reinforced its channels with its more than 600,000 shareholders to promote their involvement in the most relevant decisions of the group, making use of digital tools. Iberdrola has evolved the traditional Shareholder Day into Shareholder Week , which is presented for the first time this year as an immersive experience, in virtual format, which includes additional content to facilitate access to all information, as well as participation in and monitoring of the progress of the General Shareholders' Meeting. Shareholder Week is a digital platform where experts from the business, energy, economic, legal and social worlds give their vision of the future in various meetings and interviews in audio-visual format and explain in an educational way the keys to the energy transition and governance for the coming years from the most renowned professionals. Among the innovations of this Meeting, shareholders will also be able to certify their participation through blockchain . Any shareholder who participates through the Iberdrola portal can verify that their electronic vote or proxy has been correctly registered in the blockchain network. Shareholders will be able to make the consultation from the moment their participation is registered, up to one month after the holding of the General Shareholders' Meeting. Blockchain will also certify the proxies and votes of shareholders who attend the points of attention in Madrid, Barcelona, Bilbao, Santander, Valladolid, San Sebastián, Zaragoza and Valencia. With the totems installed at these locations, which have already been used at previous Iberdrola meetings, shareholders will simply need to scan their ID card to be accredited and participate via the website. Blockchain is a technology for recording information that ensures the traceability and immutability of the data recorded. Each vote or proxy received through the Iberdrola Portal is stored in the blockchain network in a secure and unalterable manner and is encrypted, guaranteeing its confidentiality. Shareholders will be able to vote telematically or by proxy until 16 June. Other alternatives for participation Iberdrola wants to encourage the participation of its shareholders and, to this end, has set up a large number of channels to make it easy for them to participate. One example of this is that Iberdrola was the first Spanish company to allow its shareholders to exercise their voting rights via instant messaging systems. To vote through this channel, shareholders simply send an image of their signed proxy and remote voting card by WhatsApp (to the number +34 639 000 639) or by Telegram (to the Junta Iberdrola account). In this context, Iberdrola recommends that shareholders and their proxy representatives attend telematically or participate remotely prior to the Meeting in order to preserve their health, promote sustainability, and avoid the inconvenience resulting from any measures that may be imposed by the authorities. This innovation is part of a more digital Board concept. In this context, Iberdrola has created Iberdrola Shareholders NEWS , an audio-visual platform exclusively for members of the OLA Shareholders' Club , with which, from a Smart TV, the most relevant content about the company can be accessed -also available for computers and mobile devices-, such as financial, industrial, and social information. READ MORE
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14/06/2022Iberdrola starts the transfer to France of the offshore wind platforms built by Navantia-Windar for the Saint-Brieuc wind farm Iberdrola has started on Wednesday the transfer of the first offshore wind platforms (jackets) for its Saint Brieuc wind farm, in Brittany, France, from the Navantia Seanergies shipyard in Fene (A Coruña), where the Navantia-Windar consortium is building these structures to support the wind turbines. These are the first four of a total of 62 platforms at the facility, which will be the Iberdrola group's first major site for this technology in France. The contract for its construction was also the largest order to date for the Navantia and Windar partnership in offshore wind power. The structures will be transported on a 122-metre long barge belonging to the Van Oord company. They are expected to arrive at their destination in the port of Brest (France) in approximately three days, depending on weather conditions, during which time they will cover the more than 1,500 kilometres that separate the port of Ferrol from their location in the English Channel. The delivery of the first platforms demonstrates the successful completion of the contract signed two years ago, valued at 350 million euros. The order included the manufacture and assembly of the 62 structures at Navantia Windar's facilities in Brest and Fene, as well as the piles that anchor the wind turbines to the seabed at Windar's facilities in Avilés. This agreement has strengthened a relationship of more than eight years between Iberdrola and Navantia-Windar. Both companies have contracts worth more than 1,000 million euros, including the award to Windar of the transition parts for the Baltic Eagle offshore wind farms in Germany and Vineyard Wind 1 in the United States, as well as the orders already completed for Wikinger, in the Baltic Sea, and East Anglia One , in the United Kingdom. In addition, this collaboration has contributed to making Navantia Seanergies, the brand created by Navantia to boost its business in green energy, a global benchmark in the construction of offshore wind components and the leading supplier of this type of structure in France, with one of the greatest development potentials in this industry in Europe. Economic driver of local business and employment The project gives continuity to the employment of Navantia and Windar in their respective facilities, as it means the generation of 1,250 direct jobs in Avilés and Fene. In addition, as a result of this contract, Navantia-Windar has opened a plant in Brest, France, where the 186 stabbings and intermediate platforms of the transition pieces have been manufactured, as well as the lattice structure for 34 of the 62 structures of the wind farm, generating 250 jobs. The construction of the Saint-Brieuc wind farm will generate more than 1,500 jobs in France, distributed among various companies in the country (including 250 at the Navantia-Windar Brest plant). In total, this means the creation of at least 2,750 jobs between the two countries. The Saint-Brieuc platforms stand on three legs. Each is up to 75 metres high, 25 metres wide and weighs 1,150 tonnes. Iberdrola has for the first time used an innovative hydraulic device called pile grippers to fix these structures, which provides additional fixation and stability during the installation phase, which is expected to begin in the coming months. 2.5 billion euros of investment Saint-Brieuc will be the Iberdrola group's first large offshore wind farm in France. With almost 500 MW of capacity, it will generate enough clean energy to meet the electricity consumption of 835,000 people, once it comes into operation in 2023. Located some 16 kilometres from the coast, it will cover an area of 75 square kilometres. Its construction involves an overall investment of around 2.5 billion euros. This new facility demonstrates Iberdrola's commitment to the French market, where the company plans to invest around 4 billion euros by 2025, mainly in renewable projects. The plant will become the company's fourth offshore wind farm in operation, following West of Duddon Sands, located in the Irish Sea; Wikinger, in the Baltic Sea; and East Anglia ONE, one of the world's largest offshore wind developments, located in the southern North Sea. Offshore wind energy is one of the keys to Iberdrola's growth. Just as the group was a pioneer in its commitment to onshore wind power two decades ago, the company is leading the development of offshore wind power. Iberdrola has a portfolio of projects in the United States, the United Kingdom, Germany, Poland, Sweden, Ireland, Taiwan, Japan, the Philippines and Brazil, which could increase in the coming years thanks to the numerous auctions in which it is participating. The Iberdrola group's sustainable growth strategy based on promoting the electrification of the economy through investment in renewable energies, electricity grids and energy storage has enabled it to become a global energy leader and the first in its sector in Europe by capitalisation, with a stock market value of around 70,000 million euros. Navantia Seanergies is the division created by Navantia to contribute to the development of green energies, through the construction of elements for offshore wind farms and the development of hydrogen as an energy transport vector. Navantia Seanergies, which was born from the synergies with the other divisions of the public shipbuilding and high-tech systems integration company, is a provider of all types of solutions in platforms for offshore wind farms and substations and represents a solid industrial ally, with proven experience, innovation capacity, modern facilities and a consolidated value chain at the service of the energy transition. Navantia has a solid track record in the offshore wind energy sector. Since 2014 it has participated in a total of 11 projects worth almost €1 billion, has manufactured, in alliance with Windar Renovables, more than 100 offshore wind platforms (jackets) and was the first Spanish company to build a substation for an offshore wind farm. Navantia Seanergies is thus positioned to become a global supplier of reference in a market that will grow by 13% until 2030. Windar Renewables is a global leader in clean and sustainable energy through the manufacture of platforms and towers for the offshore wind industry, as well as towers for onshore wind farms. Led by its founding team, it has a network of manufacturing facilities strategically located to serve the world's largest wind markets. It has production centres in Spain (Asturias, Galicia and Andalusia), India, Brazil and Mexico. The manufacturing capacity of all available solutions, the controlled quality of its products and innovation have earned it the trust of the main players in the renewables sector, which is reflected in a solid order book for the future. Windar Renovables' business model is based on distinguishing itself through innovation and offering its customers comprehensive and tailor-made solutions, thanks to its capacity and flexibility, and always applying sustainability criteria. READ MORE
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14/06/2022Iberdrola leads the world in wind energy with more than 15,000 wind turbines in 400 farms Iberdrola has consolidated its position as the world's leading wind energy company, with more than 15,000 wind turbines in operation at 415 sites in 14 countries. The company thus reaffirms its leadership in the sector, with 20,700 megawatts (MW) in operation and an additional 4,000 MW under construction. The company is strengthening its commitment to wind energy with onshore and offshore wind projects currently under construction in around ten countries. In the period 2022-2025 alone, the group plans to invest between 12 and 15 billion euros in new wind power capacity. When the initiatives under development come on stream, the company will have an installed wind power capacity capable of supplying clean energy to the equivalent of more than 12 million people and will avoid the emission of some 43 million tonnes of CO2. Iberdrola currently manages wind farms on three continents, the vast majority of which are onshore facilities. The United States is the country with the most generation from this renewable resource, with 8,000 MW, 41% of the total. It is followed by Spain, which, with 6,100 MW in operation, accounts for 31% of the group's wind power capacity, and the United Kingdom, with 2,000 MW (10%). In offshore wind , Iberdrola already has three large offshore complexes in operation: East Anglia ONE and West of Duddon Sands in the UK (more than 1,100 MW combined) and Wikinger (350 MW) in Germany. Growing commitment to offshore technology Just as the Iberdrola group pioneered the development of onshore wind power more than two decades ago, the company is now leading the development of offshore wind power, one of the keys to the company's growth, on which it began its commitment 15 years ago. Of the 4,000 MW currently under construction, more than 2,500 MW (65%) are offshore projects. Among them, Vineyard Wind 1 (806 MW), which will be the first commercial-scale wind farm in the United States. In the US, the company is also developing Park City Wind (804 MW). In Europe, the group has two major offshore projects under development: Baltic Eagle (476 MW) in Germany - which will form part of the largest offshore wind hub in the Baltic Sea with 1,100 MW - and Saint-Brieuc (500 MW) in Brittany, France. The commitment to offshore wind will be strengthened in the coming years. To this end, Iberdrola has a project portfolio of more than 43,000 MW, of which almost 30,000 MW - 67% of the total - correspond to offshore developments. In this way, the group confirms its global leadership in this technology. Focused on countries with ambitious renewable targets, the company has projects in Germany, Japan, Sweden, Ireland, Poland, Taiwan and the Philippines with a combined capacity of 15,300 MW. It also has initiatives in the United States, with 3,700 MW, and the United Kingdom, with more than 10,000 MW. The greater international contribution is also reflected in the portfolio of onshore initiatives. The company plans to develop new projects in countries with more climate action and more stable regulatory frameworks, such as the United States - with 2,500 MW onshore in its portfolio -, the United Kingdom - 2,600 MW - and other geographical areas, with 4,800 MW. In Spain, the company's portfolio totals 1,100 MW. The Iberdrola group's pioneering commitment to a sustainable growth strategy based on promoting the electrification of the economy through investment in renewable energies, electricity grids and energy storage has enabled it to become a global energy leader, the first in its sector in Europe, with a capitalisation of around 65 billion euros. READ MORE
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14/06/2022Neoenergia Oitis starts test phase of wind farm operation Neoenergia announced on Tuesday (14/6) the start of operational tests of the first seven wind turbines of Neoenergia Oitis, a wind power complex between the states of Piauí and Bahia. The delivery of this phase was made a month ahead of schedule. The project will be the company's largest of its kind in the country, with an installed capacity of 566.5MW, enough to supply a city of 2.7 million inhabitants. Full operation is scheduled for the second half of this year. "The construction of the wind farm is aligned with Neoenergia's positioning strategy in the liberalisation of the Brazilian energy market. We believe that clean energy is the way to decarbonise the economy," says Laura Porto, Neoenergia's Renewables Director. The wind farm complex has 103 wind turbines, each with a capacity of 5.5 MW, and will consist of 12 wind farms. The energy generated in the Neoenergia Oitis wind farms will be 96% of the energy generated in the Free Contracting Environment (FCE), and 4% will be sold in the regulated energy market. Neoenergia is currently the second largest energy distribution company in Brazil and is committed to the demand for efficient and sustainable energy supply in an integrated manner. Neoenergia is a pioneer in the energy transition and has been investing in wind energy since the early 2000s, when it was still considered an alternative source. Today, the implementation of projects with renewable sources is a reality with the construction of wind and solar farms, increasing the generation of clean energy. Currently, with assets in operation and under construction, we have 1.7 GW of installed capacity between wind and solar photovoltaic farms. Added to the hydroelectric plants in operation, the company will reach more than 4.7 GW of energy from renewable sources by the end of the year. Renewable investments Neoenergia invested R$ 808 million in the renewables segment in the first quarter of 2022. In addition to Neoenergia Oitis, the company completed Neoenergia Chafariz, and advanced this year in the construction of Neoenergia Luzia, a solar complex located in the municipality of Santa Luzia, in Paraíba. The three projects will lead the company to reach more than 90% of its installed capacity in clean energy. READ MORE
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10/06/2022Iberdrola takes a stake in Basquevolt, the solid-state battery company Basquevolt, the Basque solid-state battery initiative, will begin production of battery cells in 2027 with the aim of reaching 10GWh capacity, after its creation was signed today. This is one of the main objectives set out in Basquevolt's articles of association, which include as founding shareholders the Basque Government, through the venture capital fund Ezten, Iberdrola, CIE Automotive, Enagás, EIT InnoEnergy and CIC energiGUNE. After two years of intense work and maximum discretion, Basquevolt is now a reality that will make the Basque Country a European benchmark in the development of solid-state batteries. The experience of the companies that make up the initial group of investors ensures that Basquevolt is in a very important competitive position both in the battery race, where there are also important opportunities for collaboration, and in the storage industry, which is key to making progress in the energy transition. Basquevolt begins its journey of starting up the first production line within 4 years, supported by an investment of more than 700 million euros, and which will be able to generate more than 800 direct jobs. The first phase of Basquevolt will be based at the Alava Technology Park, in the Marie Curie Building (Albert Einstein, 35), located just a few metres from CIC energiGUNE. The centre, which will offer Basquevolt its technological support, based on more than 10 years of research work in the field of solid-state batteries, has a team of researchers led by Michel Armand - "father" of the polymeric solid electrolyte-. In this sense, Basquevolt's technology is based on the use of a composite electrolyte patented by the Basque centre. The promoters of Basquevolt are aware that liquid electrolyte lithium batteries are reaching maturity and that the next technological breakthrough to truly unlock the true potential of energy storage must come from the solid state. The company's initial targets are the development of prototype cells and a pilot production line in 2025, with the ambition to start production in 2027. Solid-state battery technology is the only battery technology that meets the most demanding requirements of the automotive sector in terms of performance, which is why it is becoming the strategic focus of the automotive industry. The advantage of solid-state batteries over liquid batteries is that they allow better efficiency, longer life and less wear and tear when recharging. Thanks to its technology base, Basquevolt aims to become the European leader in solid-state batteries. Specifically, Basquevolt aims to develop - in a sustainable way - the best materials and battery cells to enable the mass deployment of electric transport, stationary energy storage - including hybridisation with hydrogen-gas systems - and advanced portable devices. 15 years innovating with start-ups Iberdrola is making this investment through its international start-up programme PERSEO. Since its creation in 2008, PERSEO has invested more than 100 million euros in start-ups that develop innovative technologies and business models, focusing on those that improve the sustainability of the energy sector through greater electrification and decarbonisation of the economy. The programme has focused its activities on analysing business opportunities and technological collaboration with start-ups and emerging companies around the world, analysing 300 companies each year and creating an ecosystem of almost 7,000 entrepreneurial companies. This investment instrument currently holds a portfolio of eight companies. Through PERSEO, Iberdrola carries out more than 25 real tests of technologies per year, which serve as a first step towards establishing a commercial relationship or partnership with start-ups. In addition, in the last two years the group has launched a total of fourteen challenges in which 700 start-ups have participated. Beyond the financial contribution, PERSEO's support to these companies has been key in defining their product and business, offering them its knowledge and access to Iberdrola's market. On the other hand, the work carried out with the start-ups has served our company as a technological antenna to find out where our sector is heading. READ MORE
