News
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09/01/2022
Spain presents in Dubai the largest Green Hydrogen plant in Europe located in Puertollano A Spanish delegation, led by the Minister of Transport, Mobility and Urban Agenda, Raquel Sánchez Jiménez, today presented a paper at Expo Dubai 2020 on "The need to accelerate the transformation towards sustainable mobility" with the participation of Santiago Bañales, Director of Iberdrola Innovation Middle East. The World Expo is being held in the capital of the Emirates until 31 March 2022 and features pavilions from 192 countries, among which the Spanish Pavilion stands out for its striking bioclimatic architecture adapted to a desert environment. The director of Iberdrola Innovation Middle East, Santiago Bañales, in his speech stressed that "the electrification of transport is a critical element in achieving the ambitious decarbonisation targets agreed at COP26". In its commitment to leading the energy transition, Iberdrola is spearheading the development of green hydrogen with more than 60 projects in eight countries (Spain, United Kingdom, Brazil, and United States, among others) to respond to the electrification and decarbonisation needs of sectors such as industry and heavy transport. The company has created a new green hydrogen business unit with which it aims to position itself as a world leader in this technology. The group is thus at the forefront of the new technological challenge of producing and supplying hydrogen from clean energy sources. During her visit to the Dubai Expo, the Minister of Transport, Raquel Sánchez, visited Iberdrola's model of what is the largest green hydrogen plant for industrial use in Europe, built in Puertollano (Ciudad Real). With an investment of 150 million euros, the initiative will create up to 700 jobs and avoid emissions of 48,000 tCO2/year. The green hydrogen produced there will be used in Fertiberia's ammonia factory in the town. This will enable the manufacture of fertilisers without using fossil fuels or emitting carbon dioxide, helping to reduce the climate footprint of the agricultural sector. "Society must know that companies are committed to the fight against climate change", insisted Santiago Bañales. "Expo Dubai 2020 is a showcase to show the world the new technologies and capabilities that companies have to make the energy transition possible. They are windows into the future that we can have as humanity". "The pandemic has revealed a sense of urgency in transforming the production model and tackling the major problems facing humanity," stressed Santiago Bañales. "Problems must be tackled when there is still a solution; that is why we are anticipating the decisions that the planet must take. Companies must make our investments in response to the challenges that societies present us with, in other words, responding to all the challenges formulated by the United Nations Sustainable Development Goals". This international event has served to show the world our country's firm commitment to clean energy and decarbonisation. "Iberdrola has also started to produce green hydrogen in Barcelona's free trade zone, which will supply metropolitan buses. As part of its commitment to sustainable mobility, the company has a Global Mobility Plan that includes the installation of 150,000 recharging points by 2025", added the executive of the Spanish multinational. "Our goal is to lead the public charging networks by investing more than 150 million euros in fast charging stations." Within Iberdrola's investment plan to 2030, which totals 150 billion euros, green hydrogen will be a major growth vector. Iberdrola is already developing several projects that will enable the decarbonisation of industry and heavy transport in Spain and the United Kingdom, as well as developing its value chain. The group currently has a green hydrogen portfolio that will require investments of more than 3,000 million euros by 2030 for the production of 134,000 tonnes per year. The company has also submitted 54 projects to the Next Generation EU programme, which would trigger investments of 2.5 billion euros to achieve an annual production of 60,000 tonnes of green hydrogen. READ MORE
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05/01/2022
Iberdrola raises interim dividend to 0.170 euros gross per share Iberdrola's interim dividend for 2021 will amount to EUR 0.170 gross per share, as announced today by the Spanish National Securities Market Commission (CNMV). Investors opting for the cash dividend will receive the corresponding amount on 1 February. The company once again offers its shareholders three options in this edition of Iberdrola Flexible Remuneration: to receive the interim dividend in cash - the aforementioned 0.170 euros gross per share -; to sell their allocation rights on the market; or to obtain new bonus shares in the group free of charge. This interim dividend for 2021 will be completed with the final dividend that the company expects to pay in July, if approved by the company's General Shareholders' Meeting. Shareholders who opt for the option to receive new shares must hold 60 free allotment rights in order to receive a new share in the company. The three options - collecting the interim dividend in cash, selling the rights in the market or receiving new Iberdrola shares - are combinable, so the shareholder could choose one of the alternatives or combine them according to his or her preferences. The Iberdrola Flexible Remuneration system assigns by default the option to receive new shares, so those shareholders who prefer to receive their remuneration in cash must notify their bank between 10 and 24 January. In order to implement this new edition of the remuneration system, a capital increase with a maximum reference market value of 1,099 million euros will be carried out. Dividend Calendar 7 January 2022 Publication of the announcement of the implementation of the Capital Increase. Last day on which Iberdrola shares are traded with the right to participate in the "Iberdrola Retribución Flexible" system. 10 January 2022 Ex-dividend reference date as from which Iberdrola shares are traded without the right to participate in the "Iberdrola Flexible Remuneration" system. Beginning of the Common Election Period and of the trading period of the free-of-charge allocation rights. 11 January 2022 Reference date for determining the shareholders of the Company that will have the right to participate in the "Iberdrola Flexible Remuneration" system. 24 January 2022 End of the Election Period and of the trading period for the free allotment rights. 1 February 2022 Payment of the Interim Dividend to shareholders who have opted to receive cash through this option. Expected date of registration of the new shares to be issued by virtue of the Capital Increase in the accounting records of "Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A.U." (IBERCLEAR). (IBERCLEAR). 2 February 2022 Estimated date for the start of trading of the new shares. READ MORE
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04/01/2022
Iberdrola extends merger agreement with PNM and files notice of appeal with New Mexico Supreme Court Avangrid, Iberdrola’s subsidiary in the United States, has disclosed to the Securities and Exchange Commission that it has agreed with PNM Resources to extend the longstop date of their merger agreement until 20 April 2023, which may be extended with the consent of both parties under certain circumstances for a further three-month period. The companies have also filed a notice of appeal before the Supreme Court of New Mexico against the order issued by the New Mexico Public Regulation Commission (“NMPRC”) dated 9 December, 2021 rejecting the agreement entered into by Avangrid, PNM, certain of their respective affiliates, and certain intervenors in the approval process with respect to the proposed merger of Avangrid and PNM. Iberdrola, Avangrid and PNM thus begin to defend their interests, as they consider the decision taken by the NMPRC to be "unfair". In this regard, it should be noted that the transaction, which was amicable and recommended by PNM Resources' board of directors, had the backing of stakeholders and had received the approval of various state and federal agencies during the merger approval process, which lasted more than a year. During 2021, the merger received approval from the Public Utility Commission of Texas and five federal agencies, namely: Federal Energy Regulatory Commission (FERC), Hart-Scott-Rodino Clearance (HSR), Committee on Foreign Investment in the United States (CFIUS), Federal Communications Commission (FCC) and Nuclear Regulatory Commission (NRC), pending only the NMPRC approval. The stipulated agreement would have provided more than $300 million in benefits to New Mexico customers and communities, while implementing safeguards to ensure continued local control of utility operations and reliable service to customers. Additional community supporters voiced their opinions, including the New Mexico Attorney General, the International Brotherhood of Electrical Workers Local 611, environmental advocates and organizations representing tribal interests. In total, 23 of the 24 intervening parties supported or did not oppose the agreement. The affected companies will have 30 days to file a Statement of Issues outlining the argument for appeal against the NMPRC's decision. There is no statutory time frame for the New Mexico Supreme Court to act on the appeal. Iberdrola, a leading green energy company in the USA The Spanish company, which in 17 years has positioned itself as one of the top 3 renewable energy companies in the United States, continues to see tremendous growth opportunities in the country and is committed to supporting US efforts to expand its renewable energy infrastructure, an essential element of the energy transition. At the end of December 2021, Iberdrola, through its subsidiary Avangrid, was awarded a PPA for its Commonwealth Wind farm in Massachusetts. The 1,232-megawatt project, New England's largest offshore wind project to date, will create the equivalent of 11,000 full-time jobs over the life of the project and generate enough energy to power 750,000 homes. At the same time, construction has begun on the first commercial-scale offshore wind farm in the United States (Vineyard Wind One), which will be operational in 2024. The 800 megawatt (MW) project, located about 15 miles south off the coast of Martha's Vineyard, will generate enough power to meet the demand of more than 400,000 homes and will prevent the emission of more than 1.6 million tonnes of carbon dioxide per year, the equivalent of removing 325,000 vehicles from the roads. Through its subsidiary Avangrid, it also owns the Kitty Hawk development area (2,500 MW) in North Carolina, has already started the BOEM permitting process for the Kitty Hawk North project (800 MW), the first project to be developed off the coast of North Carolina, and manages other wind farms at an earlier stage of development. Such is its capacity for growth that the company has a $30 billion investment plan for 2020-2025 in transmission, distribution networks and renewables, through which it will practically double renewable capacity by the end of the period. These investments are aimed at increasing its presence in the offshore wind and solar photovoltaic industries, as well as strengthening its leadership in onshore wind. READ MORE
