Press releases
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26/06/2023Iberdrola upgrades New York's power grid for offshore wind power consumption Iberdrola will help deliver renewable offshore wind power from the Long Island grid to New York City and Westchester County. The company will add approximately 90 miles (about 150 km) of new high-voltage transmission lines that will run the distance underground and underwater. The project will strengthen the backbone of Long Island's electricity system and improve grid resilience, as well as help deliver clean, carbon-free energy across New York State. The initiative will add flexibility to the grid while supporting job creation linked to renewable energy and supporting the development of New York's offshore wind industry. The state's energy transition goals are among the most ambitious in the nation. New York's Climate Leadership and Community Protection Act calls for the procurement of 9,000 megawatts of offshore wind energy by 2035. A significant portion of this offshore wind generation will be connected to the Long Island grid, but in order to supply clean, local power to the rest of the state's consumers, additional grid connections are needed. The project will be developed by Iberdrola, through Avangrid, together with Edison Transmission, National Grid Ventures and Central Hudson Electric Transmission. Avangrid is the third largest renewable energy company in the country by installed capacity and leads the development of offshore wind, a key driver of the energy transition, with a portfolio of more than 6,000 MW. Its projects under development include Vineyard Wind in Massachusetts waters, which with 806 MW of capacity is the largest commercial-scale offshore wind farm in the country, and the acquisition of PNM Resources in New Mexico and Texas. The United States is the main destination for Iberdrola's investments, allocating $21.5 billion up to 2025, a figure that will lead to a renewable capacity of approximately 10,000 MW, with a 70% growth in a decade. In the last three years (2020-2022), the company has invested $9 billion in the country. In the transmission and distribution grid business, the company is investing in modernisation and digitalisation in order to increase the quality of service and resilience to extreme weather events and to enable the integration of more clean energy into the system. READ MORE
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23/06/2023“Solar grazing” is launched in Portugal with some 300 sheep There are almost 300 sheep using Iberdrola's photovoltaic parks in Portugal as pasture for grazing. A clear example of circular economy , "solar grazing" benefits livestock farmers, who gain new spaces for their activity; it is positive for the solar farm, as it ensures the ecological maintenance of the land and reduces the risk of fires; and it benefits the animals who, in addition to access to food, find protection from the sun, rain and wind in the solar panels . 200 sheep have already been introduced to the Algeruz II photovoltaic plant , located in the district of Setúbal, the first solar infrastructure completed byIberdrola in Portugal, with 28 MW of installed capacity. The Conde PV plant in Palmela, whose construction was completed last year , is used by 70 sheep for grazing. At the same time, Iberdrola is in the process of introducing 200 sheep to the Alcochete I and II farms. In addition to boosting soil regeneration, ensuring the maintenance of hunting activities and supporting the local economy, "solar grazing" highlights an integrated approach to the development of renewable energy in Portugal, combining electricity production with the practices and needs of the population. "At Iberdrola we work to ensure that renewable energy generation structures coexist positively with the population, generating local employment and supporting different initiatives aligned with the primary sector, such as the planting of vineyards or the installation of beehives. Our goal is to promote the transition towards a new socio-economic model that is climate neutral, resilient, sustainable and inclusive", says Alejandra Reyna, Country Manager of Iberdrola Renováveis in Portugal. This new grazing practice has clear positive externalities for the community. In addition to creating local jobs, it promotes other sectors such as livestock farming, providing nutrients to the soil and new seeds, increasing biodiversity in a more natural way. The maintenance costs of the affected areas are reduced and, in addition, this control of the height of the vegetation helps to prevent fires. A reality that creates a new ecosystem in which everyone wins: the shepherds, Iberdrola and the sheep themselves. READ MORE
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22/06/2023Investment to be made in Norwegian group Kyoto to accelerate industrial decarbonisation Iberdrola joins the Kyoto Group as a strategic investor and business partner in an alliance to accelerate the decarbonisation of heat in industrial processes with Heatcube, Kyoto's thermal energy storage solution . The energy company will invest €3 million through its start-up programme, PERSEO , which will allow it to control 12.8% of the capital and have a presence on Kyoto’s board of directors. With this step, Iberdrola advances in its strategy of providing industrial customers with solutions to decarbonise their heat demand, which represents more than 50% of industry's final energy needs. Thermal storage solutions are a key technology for supplying green heat at a competitive cost. Green industrial heat generated with this technology, together with green hydrogen, ammonia and other derivatives in which Iberdrola is a world leader, complements the portfolio of sustainable energy solutions that Iberdrola offers its industrial customers. "The partnership with Kyoto and its Heatcube thermal storage solution is a further step for Iberdrola in its mission to decarbonise the economy through electrification. Storage is one of the major challenges in the energy transition, hence this collaboration with the Norwegian group will be key to our strategy," said Fernando Mateo, Global Head of Industrial Decarbonisation at Iberdrola. "This is a turning point for the Kyoto Group. Beyond the capital increase, the fact that both Iberdrola and Spirax-Sarco are vesting their plans, market access and credibility behind the commercialisation of Heatcube, opens up huge market opportunities and provides us with world-class technological support. We are already working on a number of customer-specific commercial projects with Iberdrola and expect to see positive results shortly ," says Camilla Nilsson, CEO of the Kyoto Group. Alongside Iberdrola, the world leader in thermal energy management Spirax-Sarco will also invest in Kyoto. In addition to the commercial and technical cooperation for the commercialisation and market adoption of Heatcube, the investment will increase Kyoto's presence in Spain, where a third of its workforce and a large part of its suppliers are currently located, thus contributing to strengthening industry while generating a local value chain. Headquartered in Bilbao (Spain), for over 20 years Iberdrola has been committed to clean energy with the goal of exceeding 52,000 MW of renewable capacity by 2025. Iberdrola recently presented its Climate Transition Plan to the United Nations, in response to the UN Secretary General's call, with the goal of achieving net zero emissions by 2040 following a realistic, ambitious and responsible path. The role of PERSEO Iberdrola has materialised the investment in Kyoto through its start-up programme, PERSEO, which has helped the utility to implement innovative solutions to boost renewable energies, decarbonisation and electrification of the economy, digitalisation of grids, promotion of efficient storage and care for the environment. The programme's ecosystem includes more than 7,500 start-ups , including unicorns - companies valued at more than USD 1 billion - such as the electric vehicle charging solutions manufacturer Wallbox and Stem, which offers smart battery storage solutions. Heatcube Kyoto Heatcube offers thermal energy storage and heat generation in a single product. It provides industrial customers with the technology to reduce both their process heat production costs and CO2 emissions by using intermittent renewable energy sources instead of fossil fuels for heat production. Heatcube can store from 16 MWh to 96 MWh, with a discharge effect for each Heatcube of up to 15 MW. It is an innovative, low-cost, modular thermal energy storage solution that can use multiple renewable energy sources to heat molten salt to over 415 degrees. The high-temperature salt is then used to produce steam for industrial production processes. About Kyoto Group Heat accounts for two-thirds of industrial energy consumption and, traditionally, almost all of it is based on fossil fuels. Kyoto Group's Heatcube, a thermal energy storage solution, provides a sustainable and cost-effective alternative by capturing and storing abundant but variable energy from sources such as solar and wind. Founded in 2016, Kyoto Group is headquartered in Oslo, Norway, with subsidiaries in Spain and Denmark. Kyoto is listed on Euronext Growth. About Spirax-Sarco Spirax-Sarco Engineering is a world-leading thermal energy management and fluid technology solutions group that aims to deliver sustainable value to all stakeholders through engineering for a more efficient, safe and sustainable world. Headquartered in Cheltenham, UK, the group comprises three world-leading businesses: Steam Specialties, for steam control and management; Electric Thermal Solutions, for advanced electrical process heating and temperature management solutions; and Watson-Marlow, for peristaltic pumping and associated fluid handling technologies. In 2022, the group launched its TargetZero solutions for the decarbonisation of critical industrial processes. READ MORE
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20/06/2023At least €0.31 per share will be paid out in final dividend DIVIDEND CALENDAR 5 July 2023 Communication of the number of free allotment rights needed to receive one share and the amount of the gross Final Dividend per share 6 July 2023 Publication of the announcement of the capital increase. Last day on which shares entitled to participate in the dividend are traded. 7 July 2023 Reference date (ex date) from which -inclusive- the shares are traded without the right to participate in the "Iberdrola Retribución Flexible" system. Start of the trading period for the free allotment rights. 20 July 2023 End of the trading period for the free allotment rights. 28 July 2023 Payment of the Final Dividend to those who have opted to receive cash through this Flexible Remuneration Option. 31 July 2023 Expected date for the commencement of ordinary trading of the new shares to be issued pursuant to the Capital Increase READ MORE
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20/06/2023Offshore wind energy to be supplied to SHS in Germany Iberdrola Deutschland and SHS -Stahl Holding Saar GmbH & Co. KGaA have concluded a long-term power supply agreement (PPA). The cooperation between the two companies is set for 15 years and covers an annual consumption of 200 GWh. The deal’s green energy production is equivalent to some 50 MW offshore wind capacity, to be supplied by Iberdrola’s Baltic Eagle offshore wind project being built in the Baltic Sea. This will enable SHS to sustainably transform the business activities of its Saarstahl and Dillinger companies while reducing its own steel production CO2 emissions in the future. This is the first of several PPAs planned by the two companies for the coming years. Sustainable industrial transition With this PPA, Iberdrola and SHS underpin their respective strategies to actively promote the energy transition in Germany. In addition to this long-term partnership, other opportunities for cooperation are being explored, such as on-site renewable energy and the production of green hydrogen. The Baltic Eagle offshore wind farm is the second of three large-scale Iberdrola projects in Germany, alongside the Wikinger and Windanker wind farms. Baltic Eagle will be commissioned at the end of 2024 with a total capacity of 476 megawatts, enough to supply green energy to 475,000 private households while saving 800,000 tonnes of CO2 per year. "We are very pleased to support SHS in its ambitious climate goals," says Felipe Montero, CEO of Iberdrola Germany. "As part of our growth in the strategic German market we are paying particular attention to partnering with energy-intensive companies. In doing so, we are contributing to the sustainable transformation of the economy." "With the conclusion of this PPA, we are taking a big step towards our goal of climate-neutral steel production. Our cooperation with Iberdrola helps us to secure renewable electricity for the transformation process of our companies Saarstahl and Dillinger. Currently, our production is still based on classic blast furnace technology. From 2030 onwards, we want to produce 3.5 million tonnes, about 70% of our steel, with lower emissions, and by 2045 we want to achieve production that is as CO2-neutral as possible," says Dr Karl-Ulrich Köhler, Chairman of the Management Board of SHS - Stahl-Holding Saar and Chairman of the Management Boards of Dillinger and Saarstahl, explaining the upcoming transformation process. READ MORE
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14/06/2023Iberdrola and Birdlife International sign alliance to protect biodiversity The Executive Chairman of Iberdrola , Ignacio Galán, and the CEO of Birdlife International , Patricia Zurita signed this morning in Madrid a three-year strategic alliance to work together towards renewable deployment that enhances the contribution to biodiversity. The two organisations share the view that a sustainable energy system based on renewables is essential to address the interrelated crisis of climate change and biodiversity loss. If this renewable deployment is properly located and managed, it can meet clean energy needs, be positive to climate and, at the same time, contribute to healthy ecosystems. With this purpose, the alliance will bring together the efforts of Iberdrola and Birdlife International in advancing renewable solutions that provide enhanced and long-term benefits to biodiversity , through the promotion and implementation of enabling policies, joint projects, research, science-based best practices, and communication. "Building ties between different social stakeholders is essential to provide an urgent response to the planet's main challenges, such as the fight against climate change and the loss of biodiversity. At Iberdrola, we have been developing clean and sustainable energies for decades, and by 2030 we will reach carbon neutrality for our electricity generation, and we will have a net positive impact on biodiversity," said Ignacio Galán. Patricia Zurita said “It is terrific to work with Iberdrola to strengthen their strategies and implementation of renewable deployments that address both the climate crisis and its twin the biodiversity crisis. To fight climate change we must also protect and restore nature. Business partners such as Iberdrola are a key component of a multifaceted approach involving conservationists, governments, finance, and business.” The agreement signed today will help identify areas of strategic convergence and expand the existing collaboration between the two organisations through Birdlife International's many national members. Commitment to environmental protection Multidisciplinary groups of experts from both organisations will work together to seek opportunities for projects, research, communicate new knowledge and promote best practice. This work will be structured along the following lines of action: * Policy: supporting ambitious approaches to climate and biodiversity policy and setting the standard for industry to deliver international best practice. * Nature-positive energy: drive industry progress in understanding and implementing nature-positive solutions as standard practice in the deployment of renewable energy. * Nature-based solutions: establish an industry-leading position to address climate and biodiversity crises through the delivery of high integrity nature-based solutions with multiple socio-economic and biodiversity benefits. * Knowledge exchange and communication, including dissemination of best practices, methodologies, new research, and any other relevant information on positive actions for nature in the energy sector, encouraging their adoption by other stakeholders. READ MORE
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13/06/2023Ignacio Galán participates in the meeting of the Board of Trustees of the Elcano Royal Institute, chaired by H.M. the King of Spain Ignacio Galán participated in the meeting of the Board of Trustees of the Elcano Royal Institute, of which H.M. King Felipe VI is Honorary President. The event, held at the Quinta del Pardo Palace, Madrid (Spain), was also attended by other political and business leaders who are members of the Board of Trustees, as well as former Spanish Prime Ministers Felipe González, José María Aznar, José Luis Rodríguez Zapatero and Mariano Rajoy. The Elcano Royal Institute is one of the most important think tanks in Europe. It specialises in foreign relations and strategic affairs and operates as a meeting place, whose mission is to find innovative, robust, inclusive and informed responses to today's major global challenges. In 2022 it organised a total of 50 public events, 49 meetings of its Working and Discussion Groups, and published 312 papers on the themes of its 10 research axes. Created in 2001, the organisational structure of the Elcano Royal Institute balances public and private interests and favours the exchange of ideas in a plural and independent environment, giving space to diverse political and social sensibilities. It takes its name from Juan Sebastián de Elcano, who has gone down in history as the leader of the expedition that completed the first round-the-world voyage. READ MORE
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13/06/2023The King of the Netherlands accompanied by Ignacio Galán visits the main green hydrogen production plant in Europe Iberdrola has taken a definitive step forward in the establishment of the green hydrogen maritime corridor between Spain and the Netherlands. The Executive Chairman of Iberdrola, Ignacio Galán , received His Majesty the King of the Netherlands today at the Puertollano plant on the day new agreements were signed between the company, ACE Terminal and Hynetwork Services . Ignacio Galán, Executive Chairman of Iberdrola, said that "when we talk about green hydrogen, we are not talking about promises, we are talking about a reality and it demonstrates Iberdrola's commitment to new technologies and to our country, as we have been doing for many years. We remain firmly committed to the Single Energy Market as the best way to promote the huge investments needed if we want a secure, clean and competitive energy industry." Mr Galán also added that "the current facilities in Puertollano are in a first phase and in the future we aim to multiply the capacity of the plant ten times. In addition, a few days ago, we also signed a contract to sell ammonia that we will produce in Huelva, more than 100,000 tons per year. We have planned investments in this sector of more than 3 billion euros, of which more than half will come to Spain" Helmie Botter, Hydrogen Business Development Manager at Gasunie, said: "With this agreement we are strengthening the hydrogen corridor between Spain and the Netherlands. Through import logistics hubs, such as the Port of Rotterdam, and the national hydrogen network of Hynetwork Services, a subsidiary of Gasunie, to bring green hydrogen to European industrial users, the Netherlands is positioning itself to become the gateway for Northwest Europe with hydrogen." The project partners, Walter Moone (President of New Energies & LNG Vopak); Cees van Gent (CEO of HES International) and Ulco Vermeulen (Executive Board of Gasunie) attended the signing of the agreement and expressed their satisfaction that Iberdrola has chosen its terminal to receive, store and distribute green ammonia and to transport green hydrogen. Together with Iberdrola, ACE Terminal takes a significant step in the establishment of the hydrogen value chain between Spain and the Netherlands. Thanks to the agreements signed today, plans to develop a maritime corridor between Spain and the Netherlands are one step closer. Iberdrola aims to transport green ammonia to ACE Terminal's import facilities in the Port of Rotterdam, to handle and store, and convert ammonia into green hydrogen, for end use in industry, or for direct use in shipping and other industries in northwestern Europe. Transport and distribution will be carried out through the Dutch national hydrogen network of Gasunie's subsidiary Hynetwork Services in the European market to customers in the chemical, steel, refining and fertilizer industries. These entities are established in clusters such as those in Rotterdam, Amsterdam, Zeeland and Chemelot in the Netherlands and in northwestern Europe. With His Mastestad King Willem-Alexander as a distinguished witness, the alliances established mark an important step forward in the materialization of the agreement between Spain and the Netherlands. The objective is to establish the maritime corridor of green hydrogen between both countries as soon as possible that will help to decarbonize the industry of northern Europe. The maritime transport of competitive green hydrogen, which Iberdrola is already producing in Spain, is a key lever for this transformation to occur in the short term. In addition to His Majesty the King of the Netherlands, the Minister of Climate and Energy Policy of the Netherlands, Robert Jetten; the Secretary of State for Energy, Sara Aagesen, Roel Nieuwenkamp, Ambassador of the Netherlands to Spain and Consuelo Fermenía Guardiola, Ambassador of Spain to the Netherlands, also attended. The Puertollano plant has received more than 180 visits from governments, entrepreneurs and universities around the world. Among them, His Majesty the King of Spain during his inauguration, the Ministers of Energy of Australia, Chile and Slovenia, the Secretary of Environment of Brazil, the embassies of Turkey or Holland, or the Government delegations of Japan, Morocco, Colombia or Finland, as well as Chambers of Commerce from different countries. Last December, Iberdrola reached an agreement with the Port of Rotterdam to export green hydrogen and its derivatives to the Netherlands. This new step represents a step forward in its commitment to promote the decarbonisation of industrial consumers in northern Europe. Industrial Decarbonisation The decarbonisation of industry in northern Europe is a challenge for the coming years in which Iberdrola wants to be central to, delivering real projects supplying green hydrogen to its customers. The company was the first to produce green hydrogen and will be the first to begin its export. Spain has great renewables potential that will allow it to decarbonize its local industry. In addition, it has additional resources of competitive renewable energy to supply its European partners and contribute to building a greener and more connected Europe, guaranteeing its energy security and independence. For this reason, Iberdrola, in its commitment to lead decarbonisation, is promoting, together with key players in the Dutch energy ecosystem, the joint development of the logistics chain necessary to make the green hydrogen corridor a reality. Leader in renewable energy The Iberdrola group has been investing significantly in renewable energy for more than two decades, as a core pillar to build its clean, reliable and smart business model. Thanks to this vision, the company is a world leader in renewable energy, with 40,344 MW of renewables capcity at the end of the first quarter of 2023. Committed to the energy transition towards a low-emission economy, the company is now a leader in the green hydrogen revolution with three plants in operation by 2023. In total, there are 60 projects under development in eight countries to support decarbonisation in sectors such as heavy industry and transport. Iberdrola's Puertollano plant, located in Ciudad Real, consists of a 100 MW photovoltaic solar plant. It has a lithium-ion battery system with a storage capacity of 20 MWh and the largest green hydrogen production system in Europe (20 MW). With an investment of 150 million euros, it will be able to produce up to 3,000 tons of green hydrogen per year, which would avoid the emission of 48,000 tons of CO2 per year. About ACE Terminal To facilitate the growing demand for hydrogen, three strategic partners: Gasunie , HES International and Vopak have joined forces and expertise to develop a hydrogen import terminal at the Port of Rotterdam. The "open access" terminal will enable the reception and storage of ammonia as a hydrogen carrier for customers in northwestern Europe. In addition, the terminal will provide the conversion of ammonia to hydrogen, the transhipment of ammonia and the subsequent transit of hydrogen and ammonia to end users. The ACE Terminal will be built on the Maasvlakte in the Port of Rotterdam. The strategic location offers direct access from the North Sea and a connection to Rotterdam's industry and Gasunie's gas pipeline network to northwestern Europe. The terminal will utilize Gasunie's existing facilities, HES International's land and dock, and Vopak's ammonia storage know-how. The terminal is expected to be operational in 2026. About Hynetwork Services Hynetwork Services (a 100% subsidiary of N.V. Nederlandse Gasunie) is creating a national hydrogen network in the Netherlands that will link demand and supply ofCO2-free hydrogen. Five industrial groups will be connected to each other, to other countries and to hydrogen storage and import sites. This will be done mainly using existing infrastructure and partly using newly built infrastructure. Hydrogen Network Netherlands is being built in phases. The goal is to have the network completely completed by 2030. READ MORE
