Press releases
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14/12/2023Iberdrola obtains public funding for two green hydrogen projects in the UK Iberdrola, through its UK subsidiary ScottishPower, has secured funding from the UK government for two green hydrogen projects, which will be the first industrial-scale green hydrogen plants in the country. The hydrogen from both projects will be used to provide emission-free fuel for high-temperature industrial processes, such as whisky production, and to replace fossil fuels in heavy transport. After a possible two-year construction period, ScottishPower intends to start producing green hydrogen at both Whitelee and Cromarty. Scottishpower also supports decarbonisation through green hydrogen projects across the British Isles. You can read the full story in ScottishPower's communications room . READ MORE
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14/12/2023Iberdrola will repower its first four wind farms in Spain and increase production by 30% Iberdrola will repower four onshore wind farms in Spain, which will reduce the number of installed wind turbines by almost 200 and increase the energy output of the facilities by an average of 30 %. The machines used in the repowering will have a unit power output up to six times that of the first wind turbines installed in Spain more than two decades ago. Repowering involves replacing a wind farm's old turbines with more powerful and efficient models using the latest technology. This produces more energy and has less impact on the landscape, making a significant contribution to efficiency and sustainability in energy generation. With this action, these Iberdrola wind farms, some of which were commissioned in 1998, will switch from using 660 and 750 kW turbines to 4.5 MW turbines. In addition, they will generate clean energy to supply a population equivalent of about 110,000 homes per year. The projects are expected to have an impact on the local economy through the use of local labour, and even more indirect opportunities during decommissioning and construction of the supply chain. The initiative is part of the first call for grants under the Circular Repowering programme, awarded by the Ministry for Ecological Transition and the Demographic Challenge through the Institute for Energy Diversification and Saving (IDAE). If you want to read the full story, you can do so in the Iberdrola España Communication Room. READ MORE
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13/12/2023Iberdrola's Eastern Green Link I project in the UK awards £1.8 billion of first contracts Iberdrola, through its distribution subsidiary in the UK -ScottishPower Energy Networks -, is making progress in the execution of what will be the first high-capacity cable project on the east coast of the country, which will link England and Scotland. Eastern Green Link 1 (EGL1), a joint venture between ScottishPower Energy Networks and National Grid Electricity Transmission, has awarded the first contracts worth £1.8 billion (around €2.1 billion) to Prysmian Group, which will supply almost 400 km of power cable, and GE Vernova and MYTILINEOS Energy & Metals, which will provide two HVDC substations, one at each end of the cable. These awards mark an important milestone for the project, with the design phase due to begin in 2024 and construction in 2025. This 190-kilometre electric superhighway is valued at £2.5 billion and will carry enough green energy to power more than two million homes across the UK. If you would like to read the full story, you can do so in the ScottishPower Energy Networks Communications Room . READ MORE
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09/12/2023Iberdrola, the only European utility to be included in all 24 editions of the Dow Jones Sustainability World Index Iberdrola has once again been included in the Dow Jones Sustainability World Index (DJSI), making it the only European utility to have been present in the index during its 24 editions. This is reflected in the annual update published by S&P Dow Jones Indices. S&P Dow Jones Indices is a division of S&P Global, which provides essential data for investors, companies and governments to make confident decisions. The selection is evidence of the group's strong commitment to the highest environmental, social and corporate governance standards, as from an initial universe of some 10,000 companies, only 10% of the listed companies with the best sustainability scores are selected. The evolution of this index also demonstrates how investor interest in the most sustainable companies has increased in recent years and that it is compatible to create value for shareholders with a sustainable business model and involvement with the environment: since 2001, the DJSI World in euros has risen by around 80%, compared to the 250% rise of Iberdrola in the same period. This performance reflects the success of a model based on sustainable development, which has made Iberdrola the world leader in renewable generation , with more than 41,400 megawatts (MW) of renewable energy installed and an emission-free electricity production of more than 80% by the end of the third quarter of 2023. In this edition, the company has once again demonstrated its leadership in relevant aspects such as innovation, stakeholder relations, market opportunities, emissions and human rights. In addition to its inclusion in this index, the group's presence and high score in the main international sustainability indices, including Moody's ESG, CDP, MSCI, FTSE4Good, Sustainalytics, ISS-ESG, Bloomberg GEI, Euronext Vigeo Eiris indices, Global100, EcoVadis, etc., must be added. Leading sustainability Iberdrola has incorporated the Sustainable Development Goals (SDGs), defined by the United Nations for the 2030 horizon, into its business strategy and sustainability policy, and is a benchmark for its direct contribution to the global goals, highlighting its contributions in the field of energy and climate change. The company focuses its efforts on the supply of affordable, non-polluting energy (goal 7 ) and climate action (goal 13 ), while contributing directly to ensuring clean water and sanitation ( goal 6 ), has increased its investment in R&D&I activities (goal 9 ), promotes respect for the life of terrestrial ecosystems (goal 15 ) and works to establish alliances to achieve the goals (goal 17 ). After anticipating the current energy transition by 20 years with more than 150 billion euros of investment, the company is moving forward with its historic investment plan of 47 billion euros in the period 2023-2025 and consolidating its business model, based on more renewable energies, more grids, more storage and more smart solutions for customers. READ MORE
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07/12/2023Ignacio Galán: "If we want to achieve zero emissions, we must act faster" Ignacio Galán, executive chairman of Iberdrola, took part in an interview with CNBC, where he indicated that Iberdrola is sticking to its goal of tripling its renewable energy capacity by 2030, stating that it has the ambition, technology and funds to do so. However, he also confirmed that this requires governments to pass predictable and stable rules to help investment in renewables and reduce the risk of renewables. Galán also pointed out that renewable energies are currently cheaper than fossil fuels. This is because new renewable plants are always equated with existing fossil fuel plants, when the creation of two plants from scratch should be compared, making fossil fuel plants more expensive. For the future, Iberdrola's executive chairman points out that we need to move faster if we want to achieve the targets, but that will also depend on governments and the sanctions they impose. He believes that by 2024 the economy will stabilise and the commodities market will be more stable despite inflation and rising interest rates, so that investment in renewable technologies and storage will come to normalise. If you want to see Ignacio Galán's interview, you can find it here. READ MORE
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07/12/2023Iberdrola completes the installation of the first wind turbines for the Vineyard Wind 1 offshore wind farm in the US Avangrid, Iberdrola's subsidiary in the United States , has successfully completed the installation of the first wind turbines at Vineyard Wind 1 , the Group's major offshore wind project in the country, and will begin to feed clean energy into the grid to supply the consumption of 30,000 homes and businesses in Massachusetts for the time being. When fully operational, Vineyard Wind 1 will comprise 62 wind turbines with the capacity to generate 806 megawatts, enough to power more than 400,000 homes and businesses in the Commonwealth of Massachusetts. Part of the Iberdrola Group's portfolio of more than 41,300 megawatts of renewable energy in operation, it is part of a suite of global assets that includes offshore projects in the UK, Germany and France. You can read the full story in the Avangrid Press Room . * AVANGRID, Inc. is 81.50 % owned by Iberdrola, S. A. READ MORE
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06/12/2023Iberdrola to co-organise a forum on renewables and biodiversity at COP 28 Iberdrola, together with BirdLife International, has promoted the organisation of a high-level forum on renewables and biodiversity within the COP 28 that is being held these days in Dubai. The goal of tripling renewable capacity by 2030 is one of the key calls of COP 28 and is at the heart of a successful just energy transition in the run-up to a net-zero economy, as dictated by various policies. Climate change is advancing at an ever-faster pace and renewables are positioned as an essential lever to fight fast and effectively to reduce emissions and minimise the impacts of climate change on people and nature. Under the title "Positive renewable energy for biodiversity: building alliances to move forward", this presentation held in the We Mean Business pavilion, within the Blue Zone, brought together experts and representatives of different entities: María Mendiluce, CEO We Mean Business; Emilio Tejedor, Director of Environment of Iberdrola; Amy Fraenkel, Executive Secretary of the United Nations Convention on the Conservation of Migratory Species of Wild Animals; Kristen Panerali, Head of Clean Energy, Networks and Electrification of the World Economic Forum; Beverley Cornaby, Director of the Corporate Leaders Group in the United Kingdom and lead of CISL; Ignacio Lorenzo, Director of Biodiversity and Climate Technical Advisory at the Development Bank of Latin America and the Caribbean; Diane Holdorf, Executive Vice President of WBCSD; Rebecca Williams, Global Head of Offshore Wind Energy, Global Wind Energy Council, GWEC; and Nina Mikander, Global Policy Director of BirdLife International who moderated the event and gave the final conclusions. This high-level conversation between key actors and global alliances has showcased success stories on the positive biodiversity impacts of an accelerated renewable transition and laid the groundwork for potential partnerships and collaborations to contribute to a positive future for nature. On behalf of Iberdrola, Emilio Tejedor, Director of the Environment, said "forums like this one in a global framework allow us to learn about best practices and apply them, as well as create synergies that help protect the planet and its biodiversity. At Iberdrola we made this commitment years ago and we are working within the framework of our Biodiversity Plan and the Convive Programme to ensure that renewables create a symbiosis with nature, society and the economy. As part of this commitment, we are very proud to have established a partnership with BirdLife International, and this event allows us to expand our impact, our network of relationships and identify new opportunities for collaboration. Advancing towards the goal of tripling renewable capacity by 2030 will provide a competitive advantage in securing clean, secure and affordable energy that will drive industrial growth, prosperity and positive value for biodiversity, climate and people. This ambitious goal requires significant action and collaboration from governments, the private sector and civil society as a whole. Some of the key factors for success are the right policy support and market incentives, international cooperation among all stakeholders, investments in energy infrastructure and an accelerated electrification process. To contribute to global goals, the energy transition must be carried out in a way that is compatible with the need to preserve and restore nature. The good news is that this is possible thanks to a growing number of tools and solutions available to ensure that renewable energy deployment is properly sited and managed, thus contributing to enhancing biodiversity and socio-economic development benefits. Iberdrola's commitment to biodiversity Iberdrola is committed to a sustainable energy model in harmony with nature and people. This model is underpinned by two main objectives: to achieve zero net emissions in all scopes by 2040 and to have a net positive impact on biodiversity by 2030, according to the Biodiversity Plan. Iberdrola has also launched the Convive Programme with the aim of being a continuous improvement plan that integrates all initiatives and alliances for the coexistence of renewable energies and their contribution to socioeconomic development and biodiversity conservation. This programme includes a multitude of measures to make renewable installations fully compatible with biodiversity, agriculture, livestock farming or even beekeeping. For example, some photovoltaic installations have become real biodiversity refuges, allowing even endangered species to find a suitable living space (e.g., free of pesticides and disturbances). A few months ago Iberdrola and Birdlife International signed a partnership to protect biodiversity. The two organisations support a shared vision that a sustainable energy system based on renewable energy is critical to addressing the interrelated crises of climate change and biodiversity loss. If properly sited and managed, this renewable deployment can meet clean energy needs, be climate positive and, at the same time, contribute to healthy ecosystems. To this end, the partnership will unite Iberdrola and Birdlife International's efforts in advancing renewable solutions that deliver greater and long-term benefits for biodiversity, through the promotion and implementation of enabling policies, joint projects, research, science-based best practices and communications. READ MORE
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05/12/2023Ignacio Galán on Bloomberg TV: "I am optimistic, the energy transition can be achieved" Ignacio Galán, who is in Dubai to participate in the various forums held during COP28 , explained in a live interview with Bloomberg some of the details of the deal signed with Masdar, which provides for an investment of 15 billion euros for the development of new offshore wind and green hydrogen projects. Iberdrola's executive chairman told the US television channel that the first milestone of the agreement, which will be to invest nearly $4 billion in the East Anglia 3 wind farm in the UK, will be completed in the coming weeks. Galán also addressed the rules regarding local components for the development of solar projects and their impact on the industry, mentioning that the Group is moving towards the market for the manufacture of photovoltaic solar panels, such as the one that will be created by the alliance signed with the Asturian business group Exiom . In this regard, although some components will continue to come from China, the company's intention is to increase the added value of these products in Europe. On the regulatory framework and the windfall tax debate in Spain, he stressed that to reach the target of tripling renewables by 2030, the government should offer more incentive and fewer penalties. "This is especially crucial for us to achieve the target we are setting," said the Iberdrola executive chairman. He also clarified that Iberdrola proactively signs contracts with suppliers just after concluding agreements with governments following auctions. This proactive approach, which avoids last-minute agreements, is key to ensuring price stability. Finally, the Iberdrola executive chairman commented on the financial challenges of the green transition and the potential risks in the US, recalling that the country has supported the green transition for many years, and that the current Inflation Reduction Act of President Joe Biden's administration will reinforce the long-term commitment. "I am optimistic about what can be achieved," Galán concluded. READ MORE
