Press releases
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21/11/2023Lisbon City Hall will have new ornamental lighting thanks to Fundación Iberdrola España Iberdrola, through its Foundation, has signed a collaboration agreement with the Lisbon City Council to develop an ornamental lighting project for the Paços do Concelho. The replacement and renovation of the building's lighting is an example of Iberdrola's commitment to the conservation of historical and artistic heritage and the promotion of the social value of culture. The Mayor of Lisbon, Carlos Moedas, and the Director of Fundación Iberdrola España, Ramón Castresana, signed the agreement in a ceremony also attended by the Spanish Ambassador to Portugal, Marta Betanzos, and the President of Fundación Iberdrola España, Fernando García. The project will include the renovation of the lighting on the facade of Lisbon City Hall, located in Praça do Município. Emphasis has been placed on its main architectural elements and, in particular, on its balcony, which will be given a differentiated lighting treatment given its historical and symbolic character, allowing the possibility of creating different chromatic scenarios depending on the different events. The project aims to highlight the unique elements that make up the City Hall, its integration into the landscape and its relationship with the urban center of the city. Through a careful design of lights and shadows that emphasize the volumes of its structures and the particular details of the monument's design. Lisbon City Hall "This partnership agreement for the lighting of the Paços do Concelho building is an example of cooperation that I can only salute, a demonstration of how the public and private sectors can work together for the benefit of citizens. The project that we are now going to carry out together will contribute to enhancing our heritage, our city," says the mayor of Lisbon, Carlos Moedas. "Moreover, this project represents a further contribution to Lisbon's goal of becoming one of the first carbon neutral cities by 2030. We are working on replacing more than 16,000 luminaires in the city's public lighting network with LED technology, we have a project for the Bela Vista Park and now, thanks to this partnership with the Iberdrola Spain Foundation, we are also going to have LED lighting outside City Hall," said Carlos Moedas. Iberdrola Foundation with culture One of Iberdrola's main areas of action, through its foundation in Spain, focuses on the care, conservation and enhancement of historical and artistic wealth. Together with the Portuguese Ministry of Culture and the Regional Government of Castilla y León, the company is carrying out an ambitious project for the restoration and maintenance of the monuments of Romanesque art in 24 temples: 13 located in northern Portugal and 11 located in Spain in the vicinity of the Duero and Támega rivers (in Salamanca and Zamora). This public-private initiative, called the Atlantic Romanesque Intervention Plan, seeks to recover the cultural, natural and social heritage of the region, carry out socio-economic revitalization work and strengthen cross-border ties between Spain and Portugal. It is also worth mentioning the Lighting Program, whose main objective is to develop interventions in unique buildings to install or improve their interior and/or exterior lighting systems in order to contribute to the enhancement of heritage. Since 2011, the volume of investment allocated by Fundación Iberdrola to the Illuminations Program has amounted to more than 3 million euros and has involved the improvement of more than 50 monuments in Spain, including the exterior of the Cathedral of Ávila, the interior of the Cathedral of Palencia and the New Cathedral of Salamanca, the church of San Hipólito el Real in Palencia, the historic Roman Bridge of Alcántara in Cáceres, the façade of CESEDEN in Madrid, the Cathedral of Santiago de Compostela, the Cathedral of Sigüenza and the Captaincy General of Seville. READ MORE
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16/11/2023Ignacio Galán named on the inaugural TIME100 Climate List of the 100 most influential leaders driving business climate action To assemble the list, TIME's editors and reporters fielded nominations and recommendations from industry leaders and partner organizations like Global Optimism and The B Team, as well as TIMECO2’s Advisory Council, then worked to assess the candidates on a variety of factors, including recency of action, measurable results, and influence. Under Mr Galán’s leadership over the past two decades, Iberdrola has invested over $150 billion to drive the transition to clean energy. Iberdrola’s focus on renewable energy and smart grid networks has placed it at the forefront of the energy transition. In the last two decades, the company has grown from the 20th largest electricity utility globally, to the world’s top three by market cap, at the same time as leading the industry in climate ambition. Mr Galán has overseen the closure of all of Iberdrola’s 17 coal and fuel oil plants across the world at the same time as establishing an industry leading renewable energy capacity of more than 41,000 megawatts (MW). The company’s CO2 intensity emissions are 70% lower than the European electricity sector average. More than $50 billion of investments is planned between 2023 and 2025, which will underpin the company’s ambitious Climate Action Plan. Iberdrola aims to achieve carbon neutrality for scopes 1 and 2 by 2030 and net-zero emissions before 2040 for all scopes. The full list is now live on Time.com and will appear in the December 5, 2023 issue, available on newsstands on Friday, Nov. 24th, and now at time.com/time100-climate . READ MORE
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16/11/2023Iberdrola brings together nearly 100 executives from international companies and rewards added value in energy transition Iberdrola today brought together nearly 100 executives from international companies in Madrid for the presentation of its Global Supplier of the Year Awards 2023; a recognition that highlights its fundamental role in the creation of employment, wealth and energy transition . Ignacio Galán, Chairman of Iberdrola, stated that "these awards are not only about economic efficiency or agility in operations, but also about the contribution to a greener, fairer and more sustainable economic model that generates opportunities for all. We are a company with values that wants companies that share our vision to be at its side". The chairman encouraged all those present at the event, which he described as "allies for green industrialisation", to continue to grow alongside the company, generating tangible value around the world. "We are only at the beginning of a true revolution that must guarantee energy autonomy and decarbonisation", he said. In this edition, the awards went to six companies that stand out for their commitment to innovation , equality, quality, sustainability and job creation , among others, which contribute to a decarbonised economy, based on their investments in renewables and increasingly intelligent distribution grids, large-scale storage projects and their commitment to innovative solutions for their customers. Iberdrola follows a strategy of developing local suppliers for its strategic contracts, creating direct and indirect jobs and maintaining a strong industrial fabric in the geographies in which it operates. In total, the indirect jobs generated by its purchasing volume in 2022 were around 400,000 jobs. In 2022, Iberdrola made purchases from more than 20,000 suppliers related to equipment, materials, works, and services, for more than 17,000 million euros. The percentage of local purchases exceeded 87% last year. This figure shows the company as a driving force in the economies in which it operates. In 2023, in the first 10 months, this volume invoiced to suppliers in Spain already amounts to more than 10 million euros. According to the 2023-2025 outlook, the group's investments will exceed 47,000 million euros in three years. By 2030, Iberdrola's activities will support more than 500,000 jobs worldwide throughout the supply chain. Of this figure, more than 85,000 jobs will be in Spain. Iberdrola weaves stable alliances with its suppliers, with a vocation for the future. As proof of this commitment, every two years, the energy company conducts a Global Supplier Satisfaction Survey. In the last edition, held in 2022, it obtained 8.36 points out of 10. The Supplier of the Year Award went to the Brazilian company ITB Equipamientos Eléctricos. The company, which already received the Diversity and Equality Award in the 2018 edition, manufactures distribution transformers for Neoenergia and Avangrid, and has stood out for solving the problems of lack of local capacity. In the last four years (2020-2023) Iberdrola has made purchases from ITB for more than 90 million euros. The award in the Economic Recovery and Job Creation category went to the Navantia - Windar alliance in recognition of its conversion of the FENE shipyard thanks to the collaboration agreement with Iberdrola and its creation of approximately 400 new jobs. In recent years, the joint venture has invoiced Iberdrola more than 400 million euros, with orders for around 160 monopiles for the different offshore wind farms that the energy company is developing in different parts of the world. One of its latest milestones has been the delivery of the last jacket for the Saint Brieuc wind farm. Both companies have been valued by Iberdrola in previous editions. In the case of Navantia, it received the award for Best Global Equipment Supplier in 2016, while Windar was recognised in the Employment Generation category at the 2019 Supplier Awards Spain. In the Energy Transition section, the winner was the Scottish company I&H Brown, a family-owned civil works company that has gone from working on coal to wind projects, batteries and grids. In the last four years it has received 39 million euros in orders from Iberdrola. In the Sustainability category, Iberdrola has recognised the work of the Portuguese company Conduril Engenharia, after successfully building the Alto Támega dam and obtaining a good ESG score, especially in the environmental area, in Iberdrola's evaluation model, designed to assess the positioning and performance of suppliers around the three fundamental axes of sustainability: environmental, social and governance. In the last four years (2020-2023) it has invoiced 120 million Iberdrola. The Diversity and Equality award went to the US company WECS Renewables for being a Woman-owned company, a governmental nomenclature that recognises that at least 51% of the company is managed, controlled and run by women, and for contributing to the objective of Iberdrola's subsidiary in the country, Supply Chain Diversity, a programme that increases purchases from suppliers that are made up of diverse groups. WECS is a supplier of spare parts and maintenance for Avangrid's wind power business and has invoiced Iberdrola 11 million in the last four years. In the Entrepreneurship section, the winner was the Brazilian company Voltbras, a start-up that stands out for its digital solution for the interoperability of charging points for electric vehicles. For Iberdrola Brazil, it has collaborated in the development of the NEO charging platform for customers and in the pioneering Green Corridor project (Natal to Salvador). Perseo, Iberdrola's start-up programme, has a minority stake in the company. Sustainable strategy Iberdrola was the first company worldwide to obtain ISO 20400 certification for Sustainable Procurement from AENOR, a procurement model aligned with the energy transition and committed to creating value. 91.5% of purchases made in 2022 were made from suppliers subject to sustainable development policies and standards. All of Iberdrola's suppliers adhere to a Code of Ethics that includes principles of conduct and clauses regarding respect for human rights, diversity and equality, occupational health and safety, anti-fraud and corruption measures, and respect for the environment, among other issues. Commitment to innovation The company's R&D&I management model, which involves the participation of technology suppliers, universities and institutions, has made it a world leader and a benchmark in the area of Research, Development and Innovation (R&D&I). Its Supplier Innovation Programme focuses on facilitating access to financing mechanisms, promoting the joint creation of companies and encouraging innovative purchasing from SMEs. During 2022, Iberdrola has allocated 363 million euros in R&D&I activities, a figure that represents a 7% increase compared to 2021. READ MORE
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06/11/2023Iberdrola closes the sale of three mini-hydro assets to Kelag, a leading renewable energy operator in Austria Iberdrola has completed the sale of three mini-hydro plants, with a total installed capacity of 35 MW, to the Austrian energy company Kelag. The agreement could be expanded in the future to include additional mini-hydro assets. Kelag currently manages around 100 hydroelectric power plants, as well as a range of hydropower purchase and subscription rights, with a total installed capacity of 1,500 MW in Austria. This is Kelag's second acquisition in Spain, following the purchase of four hydroelectric plants in 2022. This transaction is part of Iberdrola’s non-strategic asset rotation programme for the period 2023-2025, announced in its Strategic Plan last year, which has already been 100% completed to support record investments of 47 billion euros. This divestment is in addition to those recently carried out in Mexico. Iberdrola has also concluded several agreements recently to co-invest in clean energy and electrification projects, with partners including MAPFRE, Norges Bank Investment Management, Masdar, bp and Energy Infrastructure Partners. Kelag has as a strategy to continue growing in renewable energy projects both nationally and throughout Europe over the next years. READ MORE
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02/11/2023Iberdrola and Masdar close their 1.6 billion euros alliance to develop offshore wind in the Baltic Sea Iberdrola has signed a strategic agreement with Masdar, a major renewable energy group based in Abu Dhabi, to co-invest in the 476 MW Baltic Eagle offshore wind farm , located in the German Baltic Sea. Following confirmation that all the necessary regulatory approvals have been received, Iberdrola will have a majority stake of 51% in the project, which will help to accelerate energy independence in Europe. According to the terms of the transaction, the valuation of 100% of the project amounts to around 1.6 billion euros. Iberdrola will control and manage the assets, providing operation and maintenance services and other corporate services. In July, Ignacio Galán, executive chairman of Iberdrola, and the CEO of Masdar, Mohamed Jameel Al Ramahi, signed the agreement as part of a broader commitment between two clean energy powerhouses. Both parties see this as a strategically important transaction and a critical milestone that strengthens a partnership that will allow further renewable energy investment opportunities to be explored across various technologies and regions. Baltic Eagle will have 50 wind turbines, each with a capacity of 9.53 MW, built on monopile foundations. The project will produce 1.9 terawatt-hours (TWh) of clean electricity annually, enough to meet the demand of 475,000 homes and avoid the emission of 800,000 tonnes of CO2 into the atmosphere per year. This wind farm, which is scheduled to come into operation by the end of 2024, has a minimum regulated tariff of €64.6/MWh for the first 20 years. In addition, it has already sold 100% of its production with long-term contracts. In recent months Iberdrola has closed several long-term alliances to promote the decarbonisation of the economy: * In September Iberdrola closed an agreement with GIC to form a strategic alliance for the expansion of transmission networks in Brazil for €430 million. * An agreement was reached with Norges Bank Investment Management to co-invest in 1.265 MW of new renewable capacity in Spain. * The company has signed an agreement to sell more than 8,400 MW of gas-fired combined cycle plants in Mexico for $6 billion. * Iberdrola and MAPFRE have continued to advance their strategic alliance by incorporating an additional 150 MW through a joint venture, which already has 450 MW. * Iberdrola and BP also signed a strategic alliance in March to deploy 11,700 fast charging points in Spain and Portugal. * Also, recently, Iberdrola signed an alliance with Energy Infrastructure Partners to co-invest in the Wikinger Offshore wind farm in Germany. READ MORE
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27/10/2023Iberdrola is committed to retaining and attracting young talent from its smart grid world headquarters in Bilbao Iberdrola today held a conference at its global smart grid headquarters in Bilbao dedicated to promoting young talent linked to green jobs. The necessary energy transition offers an opportunity for the future employment of young generations with the specialisation of jobs related to electrification, smart grids and renewable energies . As part of the Basque company's firm commitment to changing the energy model to a so-called 'green industrial revolution', 60 young students have gathered at the Global Smart Grids Innovation Hub -GSGIH-, which is celebrating its second anniversary these days since its inauguration, to share experiences and knowledge that will set them on the path to their future careers based on their commitment to sustainability. At the Iberdrola HUB headquarters in Bilbao, a Hackathon was held based on Artificial Intelligence oriented towards energy distribution with smart grids. In this way, a meeting point was established between students, institutions and the company to share challenges, opportunities and experiences and encourage young people to develop their professional careers in the sector. During the conference at the Larraskitu headquarters, called 'Hackaton 2023: Artificial Intelligence', the combination of youth and innovation went hand in hand with smart grids, a key tool in the process of decarbonising the economy . Electrification is the way to meet the challenges of a Europe that has set a red deadline of 2030 to comply with the Paris Agreements. On this path towards a new energy model, the Iberdrola Hub has a tractor effect with universities, companies and institutions to establish a collaborative space and offer innovative solutions. Objective: attracting and retaining talent One of the fundamental pillars of the Global Smart Grids Innovation Hub is the attraction and retention of talent. The GSGIH carries out different types of activities to bring the energy sector in general, and smart grids in particular, closer to the young professionals of the future. It shares the challenges and opportunities it offers and tries to ensure that it has experts in digital skills already in demand by Smart Grids, such as cybersecurity or artificial intelligence, key technologies to lead the energy transition . Among the many activities are the promotion of scholarships for related studies, the reception of visitors at the GSGIH itself (universities, vocational training centres, schools...) and visits to other centres and participation in forums and events, sometimes organised by the GSGIH itself and sometimes as a participant. Among the 100 partners of the GSGIH, there are 15 universities and technology centres, which serve as a channel to bring together students and graduates from different specialisations and with an interest in a sector. 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 a 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 double the number of innovation projects in smart grids, consolidating and expanding the current successful model of collaboration with electrical equipment manufacturers. To this end, the company has identified from the outset more than 120 projects for future development worth 130 million euros. READ MORE
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26/10/2023Iberdrola invests €11 billion and net profit reaches €3.64 billion, up 17% Investments reach €11 billion in the last 12 months * Networks assets base continues to grow in all geographies, reaching €41.3 billion euros. * Renewable capacity at 41,300 MW, with 3,100 MW of new renewable capacity added in the last 12 months. Net profit up 17% to €3.64 billion * EBITDA reaches €10.8 billion (+13%), driven by positive tariff adjustments in the networks business and improvement in renewable output and margins in the EU. * Net profit increases +17% or +22% excluding a non-cash exceptional item related to Mexico transaction. Dividend * Following the evolution of the year, the Board of Directors has approved a 2023 interim shareholder remuneration of Eur 0.20/share (+11%). FY 2023 Net profit outlook raised to double-digit growth * The company is now forecasting double-digit net profit growth (excluding additional capital gains from asset rotation). * By year end, total assets expected to reach 150 billion euros and Net Debt to remain at level similar to 2022 (42-43 billion euros). Reinforcing financial strength * Operating cash flow (FFO) reaches €11.1 billion in the last 12 months. * Improving ratios: FFO/Adjusted Net Debt of 23.2% Strategic Plan Delivery Growth based on Networks, with regulatory frameworks covering 96% of asset base closed to 2025 * 85% of supply chain agreements already in place to cover networks investment through to the end of 2025 (100% in Transmission investment). Renewable capacity up 3,100 MW in the last 12 months with close to 8,000 MW under construction * 100% of supply chain contracts signed for projects with FID in place, and framework agreements secured for all other capacity additions for 2025. Offshore wind growth secured: 3,500 MW in construction that will represent more than 10 billion euros in investments * Offshore wind capacity will reach 3,100 MW by 2025 and 4,800 MW in 2026/27. * All projects are being delivered on schedule, with supply chain fully secured, and 100% of the energy to be produced is secured under CfDs or sold through PPAs for 15-20 years. * EBITDA contribution from offshore wind will reach €1.9 billion from 2026/27 vs 700m in 2022. * Mature pipeline of projects secured at competitive costs (€60/kW) to provide opportunities beyond 2027: 3,600 MW consented in the UK and US plus 8,000 MW of seabed rights. Leaders in hydro pump storage, key technology in the energy transition: 100 million kWh of capacity * 20 million kWh of additional capacity under construction. €7.5 billion asset rotation and partnership plan to 2025 completed, reinforcing balance sheet and maximizing access to growth opportunities Capital Markets Day * The Group’s next Capital Markets Day will be held in March 2024. READ MORE
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25/10/2023Iberdrola installs Spain's largest solar community that will enable 1,100 families to reduce their bills Iberdrola has installed the largest solar community in Spain at the Nexum Retail Park, located in Fuenlabrada (Madrid). This form of self-consumption will allow 1,100 families living within a maximum of two kilometres of the centre to access 100% renewable energy and save up to 40% of their consumption without the need for their own installation or investment. Iberdrola has developed the Nexum Retail Park project as a cross-cutting initiative that contributes to decarbonisation in three areas of action: The generation of local renewable energy through self-consumption, the contribution to electric mobility with the installation of charging points, and the design of an innovative electrical installation designed to achieve maximum efficiency. The solar community is made up of 1,350 panels located on three of the roofs of the business park, which have a combined power of 735 kilowatts, enough to produce more than one million kWh per year. The photovoltaic installation will prevent the emission of 6,000 tonnes of CO2 into the atmosphere over the next 30 years. In this form of self-consumption, Iberdrola is the one making the investment in order to enable local renewable consumption as a means to achieve the energy transition and decarbonisation of the economy. Any resident of Fuenlabrada, located less than 2 km from the installation, can benefit from the initiative through the company's website. With the aim of decarbonising mobility and accelerating the development of electric mobility in Spain, the project also integrates an electric station that includes 8 semi-fast recharging stations and 5 ultra-fast chargers, which will enable the simultaneous charging of up to 26 vehicles. The users of the 13 double charging points will recharge their car batteries with 100% green energy from renewable generation. In addition, the electrical installation, also designed by Iberdrola, will allow real-time monitoring of the shopping centre's electricity supply. In this way, and thanks to advanced data analytics, it will be possible to anticipate anomalies, detect opportunities for savings, monitor the decarbonisation plan and always maintain the maximum level of efficiency in the supply, which in turn will reduce the bill. "The Nexum Retail Park shopping centre has allowed us to create a pioneering project based on electrification as the best tool for decarbonisation. At Iberdrola, we promote and facilitate the development of these projects in collaboration with our customers and for the benefit of society, fostering the energy transition and the fight against climate change", says Luis Buil, Director of Smart Solutions at Iberdrola. "We are very pleased to inaugurate this new retail park in Fuenlabrada on 8 November. A convenience retail park, a good neighbour that will make life easier for the people of Fuenlabrada in many ways, with its leading brands, its 700 free parking spaces and, of course, thanks to the collaboration with Iberdrola, providing the resident community with a state-of-the-art sustainable infrastructure", says Joel Franco, head of the Retail Park project. READ MORE
