Press releases
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30/03/2023Iberdrola has PPAs contracts with large companies around the world * For many years, Iberdrola has been closing PPAs in the US. Now we’re starting to sign similar contract with major industrial companies in Europe. * In the case of Spain, we have to note that 80 % of the electricity is sold through forward contracts spanning from 2 to 20 years. For instance, we’ve dedicated a full solar plant to supply Heineken and help the company decarbonize its activity. * The positive fact about the deal with Amazon is that it’s a global agreement, beginning with Germany and extending it to other markets, including Australia. * The US regulatory framework provides the predictability that companies like us need to plan long-term investments, knowing that we’ll have access to the tax credit incentives. However, our decision to expand investment activity in the US has not been motivated by the IRA (Inflation Reduction Act) but by our needs to grow grid and renewable infrastructure in the US. In the US, 80 % of our business is in transmission and distribution, so it is good to see regulators want investment in the grid, which Iberdrola are providing. * Europe has been leading for decades and showing leadership with providing good funding to green energy projects. READ MORE
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30/03/2023California students visit Iberdrola's Hub in Bilbao as an example of a global smart grid innovation center This morning, 60 students from the University of California visited Iberdrola's Global Smart Grids Innovation Hub -GSGIH- in Bilbao. The Hub is part of their training as an example of a global smart grid innovation hub that they have integrated into their Paul Merage School of Business course on 'Global Business for Managers' with a focus on Europe. The students, led by Professor Cornelia Pechmann, are a group of Full Time and Executive MBAs, most of them already immersed in the working world. As part of their studies at the American university, they visit leading companies and benchmarks in various sectors in Europe to learn first-hand how they develop their businesses. In this case, Iberdrola was one of the companies selected as an example of commitment to energy transition in the energy distribution business. The director of the GSGIH, Noemí Alonso, hosted this educational knowledge visit, which provided examples of collaboration between companies in the sector in which innovation is the fundamental lever to respond to the challenges of the future of smart grids. "The hub, in addition to facilitating the development of cutting-edge technology thanks to the collaboration with all our partners, is a pole of attraction for talent. Establishing relationships with foreign universities helps us to expand our knowledge network and attract international talent. The visit was very productive for everyone and we were struck by the enthusiasm they expressed when we shared with them our objectives and tools to respond to the challenges of the energy transition," explained the director of the Iberdrola Hub in Bilbao. GSGIH, consolidates its position as a global center for smart grid innovation Iberdrola's Global Smart Grids Innovation Hub, located in Bilbao, is consolidating its position as a global center of innovation and knowledge in smart grids to help respond to the challenges of the energy transition. The center, in collaboration with the Provincial Council of Bizkaia, acts as a driving force for innovation, combining Iberdrola's technological capacity with more than 91 collaborating entities and companies. Iberdrola's Networks Business, through the Global Smart Grids Innovation Hub (GSGIH), has created an ecosystem to promote innovation, developing talent through collaboration with universities, offering opportunities to students and preparing the professionals of the future. The initiative brings together the innovative potential of more than 200 professionals in the development of R&D&I projects related to the challenges of the electricity grids of the future, including greater digitalisation, the processing of the data generated by these infrastructures and the response, in terms of robustness and flexibility, of the electricity grid to new consumption models, such as electric mobility and self-consumption. In addition, the center is established as a market-oriented collaborative technology space, where the best international talent will always be in contact with suppliers, start-ups and universities to stimulate their industrial capacity and accelerate innovation processes. Mission: Leading the energy transition Iberdrola wants to remain at the forefront of the energy transition by developing new business and technological models in distribution grids. The electricity system is undergoing an unprecedented transformation and the grids have become the cornerstone of the energy revolution; an essential platform for moving towards a decarbonised economy, which favours the development of an electricity system with more renewable sources, sustainable mobility, smart cities and self-consumption. With the creation of the Global Smart Grids Innovation Hub, the group aims to doublethe number of innovation projects in smart grids, consolidating and expanding the current successful model of collaboration with manufacturers of electrical equipment. To this end, the company has identified from the outset more than 120 projects for future development worth €130 million. Since this Hub began operating, R&D&I projects have been registered for a total estimated investment of €42 million in Iberdrola Redes España. In addition, agreements have been reached with more than 91 technology partners for the development of grid digitalisation solutions, integration of renewables, deployment of electric vehicles and energy storage systems. Proof of its relevance is the visit made by the European Technology and Innovation Platform for Smart Grids for Energy Transition (ETIP SNET) to carry out one of its Workshops, specifically the Western Region Workshop, which was attended by participants from France, Ireland, Portugal and the United Kingdom. These workshops, held in close collaboration with experts from the European Commission, aim to identify unresolved research and innovation (R&I) issues and monitor the implementation of R&I activities at national and regional level within the EU, ensuring coherence between national and European views and stimulating knowledge exchange among participants. READ MORE
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29/03/2023We formalise our biggest ever contract award for East Anglia Three offshore wind farm ScottishPower, one of the UK’s largest green energy developers and part of the Iberdrola group, has formalised a £1.3billion contract with Siemens Gamesa for 95 wind turbines for the East Anglia Three offshore windfarm. The 95 flagship 14.7MW turbines will have a combined capacity of 1,400MW, generating enough green energy to meet the annual demand of 1.3million homes. Iberdrola Executive Chairman, Ignacio Galan, said: “The scale and ambition of this investment will support UK’s commitment to net zero and energy security. East Anglia Three offshore windfarm will bring homegrown green electricity to the grid for 1.3 million homes. And, as part of the East Anglia Hub projects, it will also deliver billions of pounds of investment and support thousands of jobs in the East of England and across the UK”. The Prime Minister, Rt Hon Rishi Sunak, said: “I am delighted that ScottishPower and Iberdrola are investing in the UK – creating thousands of jobs and crucially helping millions of families keep their homes warm with cheaper, renewable energy. “Encouraging investment in the UK is at the heart of our economic plan and we have one of the most competitive business tax regimes in the world. Our Spring Budget goes even further by enabling businesses including ScottishPower to write off the full cost of equipment and machinery in the first year they invest. This week we’ll set out further action on our plans to boost the supply affordable, cleaner, home-grown power and create thriving green industries and technologies in the UK.” ScottishPower Chief Executive, Keith Anderson, said: “This is the highest value contract ever awarded by ScottishPower and it clearly demonstrates our drive and determination to decarbonise the UK. “Our agreement with Siemens Gamesa is a massive step forward for East Anglia Three, a project that has been more than 13 years in the making. We are now finalising our other contractual commitments so we can all achieve the clean energy future we want – and need.” Energy Security Secretary Grant Shapps said: “The UK is a world leader in offshore-wind, being home to the four largest windfarms in the world, which make a crucial contribution to our energy security and independence, powering more of Britain from Britain. “Today’s £1.3billion investment from Iberdrola is testament to that, serving as a vote of confidence in the UK’s green economy and creating thousands of jobs.” East Anglia Three will be constructed in the Southern North Sea, 69km offshore from Great Yarmouth on the Norfolk coast and is part of the East Anglia zone. The project will support over 2,300 jobs during the two-year construction period and over 100 roles in operation and maintenance over the lifetime of the windfarm. ScottishPower has already placed contracts worth nearly £70million with UK companies for EA3 and it is estimated that the company will invest over £2billion within the UK to support the construction and operation of East Anglia throughout the project’s lifetime. READ MORE
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29/03/2023We announce a partnership with Amazon to accelerate a cleaner, smarter energy system Iberdrola, one of the world’s largest clean energy companies, and Amazon have announced a new global collaboration to support the development of large-scale renewable energy projects and leverage cloud computing technology to enhance digitalisation in the energy transition. Iberdrola and Amazon.com Inc. have agreed to collaborate on new wind and solar capacity by signing power purchase agreements (PPA) for projects in Europe, the U.S. and Asia-Pacific. The agreements will help Amazon stay on path to power its operations with 100% renewable energy by 2025 – five years ahead of its original 2030 commitment. Two of Iberdrola’s offshore windfarms in Germany (Baltic Eagle and Windanker ) will provide Amazon with 1.1 terawatt-hours (TWh) of clean energy each year, which is equivalent to the annual electricity needs of more than 314,000 European homes. Baltic Eagle is located in the Baltic Sea, north of the island of Rügen and will have a total capacity of 476 megawatts (MW) when completed in 2024. Windanker, also located in the Baltic Sea, will have 300 MW of installed capacity and will be completed in 2026. The projects form part of Iberdrola’s Baltic Hub, which will have a total capacity of 1,100 MW, making it one of the largest offshore wind clusters in the region. In addition to the agreement with Amazon for renewable energy, Iberdrola has selected Amazon Web Services, Inc. (AWS) as its preferred cloud provider. AWS will support the energy company as it embarks on further digitalisation to support smarter grids, customer engagement, and connected clean power. Aitor Moso, Director of Iberdrola’s Retail Business said: “The challenge of electrifying our energy system to increase our autonomy and reduce emissions requires partnerships between leaders like Iberdrola and Amazon. The agreement today, combining sun, wind, and cloud, will enable new renewable generation capacity around the world and accelerate the digital revolution in the energy sector. AWS technologies will support our digital strategy to continue increasing quality of supply and provide cleaner and fully-interconnected energy services for our customers.” “Iberdrola and AWS believe that innovation is key to achieving our sustainability goals and accelerating the world’s energy transition,” said Matt Garman, Senior Vice President of Sales, Marketing, and Global Services at AWS. “AWS provides the reliability, scale, and cost-efficient IT infrastructure that will allow Iberdrola to optimize renewable energy production, modernize the power grid to integrate renewable energy sources, and enhance visibility across its operations. Together, we will advance the adoption of renewable energy and help Amazon stay on a path to power its operations with 100% renewable energy and reach net-zero carbon emissions.” Through this collaboration Iberdrola will benefit from the recently launched AWS Europe (Spain) Region and AWS cloud services to drive the energy company’s ambitious digitalisation transformation plans. This includes collaborating on multiple sustainability-focused projects. For example, the companies are developing an Advanced Smart Assistant application that will empower Iberdrola customers to take an active role in the energy transition. The application leverages services like AWS Lambda —a serverless, event-driven compute service for running code without provisioning or managing servers—and Amazon SageMaker—an AWS service that helps customers build, train, and deploy machine learning models—to facilitate the connectivity to devices like electric vehicle (EV) chargers and solar panels and controls them autonomously to reduce energy bills and carbon footprint. Other projects include renewable energy production optimization and smart grid innovations like helping to develop the electricity substation of the future using Internet of Things (IoT) and digital twins. Iberdrola is a global leader in renewables and smart grids, operating in Europe, the U.S, Asia Pacific and South America. The company has an installed capacity of around 40GW of renewable energy. As a pioneer in providing clean energy solutions to industrial partners, Iberdrola manages 23,000 GWh of PPA agreements across the world and works with companies across a wide range of sectors. More broadly, In the last three years, Iberdrola has signed several long-term cross-sector alliances to promote the decarbonization of the economy: • In January 2023, Iberdrola signed an alliance with Norway's sovereign wealth fund , managed by Norges Bank Investment Management, to invest in 1,265 MW of new renewables capacity in Spain. • In 2022 Iberdrola and bp reached an agreement to accelerate the deployment of EV charging infrastructure and the production of green hydrogen in Spain and Portugal. • In addition, a few months ago. Iberdrola signed an alliance with Energy Infrastructure Partners to co-invest in the Wikinger offshore wind farm and strengthen its offshore wind portfolio. • In 2021, Iberdrola also incorporated Mapfre as a partner in an agreement that includes, among other aspects, co-investment in a portfolio of wind assets of 295 MW. • Before the pandemic, GIG joined Iberdrola in its East Anglia One offshore wind farm with a 40% project stake. Iberdrola retained a majority stake of 60%. Between 2023 to 2025 Iberdrola will invest a record €47 billion globally to drive the energy transition forward . The company aims to install 52 GW of renewable energy capacity by 2025. In addition, Iberdrola joined The Climate Pledge in January 2023. The Climate Pledge is a commitment to reach net-zero carbon emissions by 2040—10 years ahead of the Paris Agreement. Amazon co-founded The Climate Pledge in 2019 to build a cross-sector community of companies, organizations, individuals, and partners working together to address the climate crisis and solve the challenges of decarbonizing our economy. About Iberdrola Iberdrola, Europe’s largest electricity utility by market capitalization and one of the world's top three electricity companies, is a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others. The company has a workforce of over 40,600 and assets in excess of €154.6.billion. In 2022, Iberdrola posted revenues of nearly €54 billion, net profit of €4.34 billion, with €7.5 billion paid in tax contributions in the countries where it operates. The company helps to support more than 400,000 jobs in communities across its supply chain, and global supplier purchases topped €17.8 billion in 2022. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles. READ MORE
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29/03/2023Ignacio Galán participates in Wake Up Spain forum The Chairman of Iberdrola, Ignacio Galán, analysed the reform of the electricity market promoted by the European Union at the Wake Up Spain forum, organized by the digital newspaper El Español. During his speech, he also spoke about the company's investments in the energy transition and its commitment to decarbonisation , as well as the Group's pioneering commitment to renewable energies and the way it has imposed them on electricity grids, storage and green hydrogen. READ MORE
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29/03/2023We are promoting Spain's largest green hydrogen centre in Huelva Iberdrola's green H2 project included in the Gateway to Europe Cluster has been selected within the initiative 'IPCEI Hy2Use ' as an Important Project of European Interest. The "IPCEI Hy2Use" initiative is a mechanism approved in September 2022 by the European Commission that reserves €5.2 billion for the development of 35 European projects in the different member states and that in the case of Spain will be articulated through line 4 of the PNRR (National Recovery and Resilience Plan). During the second quarter of this year, the Ministry is expected to issue a decision on the grants that will enable the launch of the projects included in the IPCEI call for proposals. Iberdrola continues to take firm steps towards the creation of the largest green hydrogen centre in Spain, to be located in Huelva. This is a further step forward with respect to Iberdrola's announced intentions to build a large green hydrogen production centre in the Palos de la Frontera chemical industrial hub. To develop the project, Iberdrola will install in two phases a high-capacity electrolyser 100% powered by renewable energy to produce green hydrogen that can be used, among others, by FERTIBERIA to manufacture green fertilisers at its plant in Palos (Spain). This large-scale electrolyser will be operational, in its first phase, in the last four months of 2025. In the first phase of the project, a 200 MW electrolyser with a production capacity of 23,000 tH2/year will be installed, with an investment of €450 million. This initiative to build a hydrogen plant will create more than 1,000 jobs in this first phase. In the second phase, a 370 MW electrolyser will be installed with a production capacity of 39,100 tH2/year and an investment of more than €500 million. To guarantee the competitive supply of renewable energy to certify the green hydrogen produced associated with the project, Iberdrola has nearly 1,000 megawatts of renewable energy under development in Andalusia that will ensure a competitive supply for a large-scale project such as this. Boosting industrial decarbonisation Iberdrola's intention is to "develop the value chain of one hundred percent green hydrogen, i.e., without any CO2 emissions, and to concentrate on the industrial hub of Huelva, specifically in the town of Palos de la Frontera, the largest hub in Spain in the production, transformation and consumption of green hydrogen, with the clear objective of decarbonising industry and heavy transport", says Ibán Molina, director of green hydrogen at Iberdrola Spain. Therefore, in addition to decarbonising industry, the project "will make it possible to design and implement innovative solutions for different forms of land, rail and marine transport using renewable hydrogen, promoting the decarbonisation of heavy mobility and ports in Andalusia", adds Molina. The project located in the Nuevo Puerto industrial estate next to the outer dock of the port area of Huelva will become a large multimodal node and the Gateway to Europe where hydrogen and its derivatives will be key to the decarbonisation of European industry and the transport sector (especially the maritime sector) included in the European Union's plans. Public-private partnership The Puerta de Europa Cluster promoted by Iberdrola has the support of more than 80 companies, with the explicit interest of the Regional Government of Andalusia, as well as the Huelva and Palos de la Frontera City Councils and the Huelva Port Authority. Iberdrola has joined the Andalusian Green Hydrogen Alliance promoted by the Andalusian Regional Government sharing the vision of the opportunity for the development of the hydrogen economy in Andalusia. The company will contribute to the development of the Alliance especially through its experience in the development of real renewable hydrogen projects, making Iberdrola a global leader in this new energy vector and contributing its leadership in the development of renewable energy and the energy transition , a challenge it undertook 20 years ago and which has made it a world leader in renewables today. Andalusia, a growth pole for Iberdrola Andalusia is one of Iberdrola's major growth centres in Spain. With an installed renewable capacity of around 850 MW, the company is already the region's leading wind power developer and is present in seven of its eight provinces. The company also has nearly 200MW more under construction, corresponding to the Guillena project, consisting of three photovoltaic plants (Poleo, Cornicabra and Espliego), in the Seville municipality of Castiblanco de los Arroyos, and the Cespedera plant in Medina Sidonia (Cádiz). Iberdrola expects to reach 3,000 MW of renewable energy in the coming years, a plan that represents an investment of around €1.5 billion and will create 5,500 new jobs in Andalusia in installation and assembly alone. READ MORE
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28/03/202320 million a day to the public funds of the countries where we operate In line with its commitment to society and to the countries in which Iberdrola operates, the company contributes more than €20 million per day to public administrations, according to the Fiscal Transparency report published today. The positive impact of Iberdrola's activity on society is reflected, in addition to its commitment to a sustainable model that promotes the economy and employment, in the contribution to the public coffers that its activity entails around the world. Iberdrola's tax contribution amounted to €7.5 billion in 2022 at global level, equivalent to 40% of profit before taxes and Social Security. Its contribution to the public coffers was almost double the group's net profit. Such is the commitment that Iberdrola will contribute more than €20 million in taxes per day in 2022, i.e., more than €600 million every month. Looking back over the last five years, the company has allocated more than €39 billion to tax payments. This total tax contribution figure includes, on the one hand, the company's own taxes, which amounted to €3.25 billion in 2022, and the taxes collected through its activity, which amounted to €4.2 billion. The tax contribution is particularly relevant in Spain, where it allocates 49% of profits, the country with the highest tax burden of all those in which it invests. The direct tax contribution, together with indirect and indirect taxes, amounts to more than 15.3 billion euros, an increase of €1.3 billion over the previous year, 10% more than the previous year. Commitment to the regions Iberdrola is aware of the importance and contribution of taxation to the achievement of the United Nations Sustainable Development Goals (SDGs), as the taxes paid by the group in the countries and territories in which it has a presence generate a significant employment and wealth-creating effect in the regions. Iberdrola is subject to more than 100 different taxes around the world. Corporate Income Tax is not the only tax levied on Iberdrola, although it is one of the most significant. In 2022, it amounted to more than €1 billion globally. Thanks to the more than €140 billion invested since the beginning of the century, Iberdrola has become an international benchmark in the fight against climate change and a driver of employment, supporting 400,000 jobs in the thousands of suppliers that make up its value chain. In 2022, in a complex environment, the Group's investments reached a record €10.73 billion, 13% more than in the previous year, with 90% earmarked for networks and renewables. Iberdrola contributes through its activities to the creation of wealth and prosperity in the territories in which it operates; specifically, its contribution to the global GDP is over €37 billion, 11.9% more than in the previous year, of which €12.7 billion correspond to Spain, while its global workforce is close to 40,000 people, generating some 400,000 jobs directly, indirectly and induced around the world. READ MORE
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24/03/2023AVANGRID to support Meta’s operations in Texas with new 321 MW solar farm The project will supply clean, renewable energy to power Meta’s operations in the region AVANGRID (NYSE: AGR), a leading sustainable energy company and part of the Iberdrola Group, has announced today the signing of a power purchase agreement (PPA) with Meta to procure renewable energy from True North , a 321 MWdc (240 MWac) solar farm under development in Falls County, Texas, and AVANGRID’s first solar facility in the state. “With projects like True North, we continue our mission of helping the country meet its ambitious clean energy goals, while also creating quality jobs and strengthening our local economies.” “We are proud to sign this agreement with a partner like Meta who, like us at AVANGRID, has a strong commitment to accelerating the energy transition in the U.S.,” said Pedro Azagra, AVANGRID’s CEO. “With projects like True North, we continue our mission of helping the country meet its ambitious clean energy goals, while also creating quality jobs and strengthening our local economies.” “We’re excited to expand our partnership with AVANGRID to help bring new solar energy to support our local operations in Texas,” said Urvi Parekh, head of renewable energy at Meta. “True North will support our commitment to 100% renewable energy and represents additional investment and jobs for the region.” Since 2020, Meta’s global operations have been supported by 100% renewable energy. The True North project will support Meta’s upcoming data center in neighboring Temple, their second data center facility in Texas. True North, AVANGRID’s first solar farm in Texas, will deliver 321 MW of clean, renewable energy once it reaches commercial operations, which is expected by early 2025. During its construction and operation, True North will create over 200 local jobs and is expected to pay over $40 million in property taxes over 25 years in this state, in which the company already operates more than 1,250 MW of onshore wind facilities. With more than 8.6 GW of installed renewable capacity, including 1.1 GW of solar projects operating and under construction, AVANGRID is the third largest renewable energy operator in the U.S. In total, the company has a strong pipeline of more than 25 GW under development, encompassing solar, onshore wind , offshore wind , and battery energy storage . READ MORE
