Press releases
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27/09/2023Iberdrola completes construction of Spain's first hybrid wind-solar plant Iberdrola has completed the construction in of the first hybrid wind and solar photovoltaic plant in Spain and is now immersed in the commissioning process. The company thus reinforces its innovative and renewable leadership in the region with the development in Burgos of this technology that optimises the use of the grid and minimises the environmental impact of the projects in the places where they are located. This 74 megawatt (MW) photovoltaic installation has more than 120,000 photovoltaic modules and is located in the Burgos municipalities of Revilla Vallejera, Villamedianilla and Vallejera to hybridise the existing 69 MW BaCa - Ballestas and Casetona - wind power complex. Its construction has had an important local component, which has contributed to the revitalisation of the economy and employment in the region. Its development has involved 360 professionals. The company has allocated more than €40 million to the execution of this project, which combines wind and solar energy at a single site. Iberdrola will therefore invest in this technology in the coming years in Spain, with which it aims to improve its renewable resources and make the most of existing locations. Cutting-edge technology The incorporation of solar modules increases the contribution of clean, cheap and competitive energy to the electricity system of these installations and ensures that they supply the maximum amount of green energy originally authorised for each project, for as long as possible. Having two technologies capable of alternating significantly reduces dependence on changing environmental conditions and limitations due to possible lack of resources such as wind or sunshine, facilitating more stable and efficient renewable production. Hybrid generation plants use the same grid connection point and share infrastructures, such as the substation and the evacuation line for the electricity produced. In addition, they are located on land that was already used for renewable generation and allows for common roads and facilities for the operation of both technologies. All of this results in a much lower environmental impact than would have been the case with two independent plants. A new energy landscape that fixes population in rural areas Iberdrola promotes renewable energies as an engine for rural development and in this way the villages emerge as a guarantee for the future. This is the case of the villages in Castile and Leon that Iberdrola is promoting and which will contribute to a sustainable recovery, allowing the creation of local employment. The best initiatives for the coexistence of renewable energies, nature and people were recently recognised at the first edition of the Iberdrola CONVIVE Awards . The Burgos town council of Revilla Vallejera was one of those honoured by the company. It has also begun construction of the Valdemoro and Buniel wind farms. In the province of Burgos alone, it has recently built or is developing more than 550 megawatts between seven wind farms. The company is also currently developing two other photovoltaic facilities in the region totalling 400 MW - Velilla and Virgen de Areños III. Last year, it also started up its first photovoltaic plant in the region in the province of Burgos -Revilla-Vallejera (50 MW) and has recently completed construction and started work on the commissioning process of the Villarino photovoltaic plant (50 MW) in Salamanca. READ MORE
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27/09/2023Iberdrola wins EMEA's best regulated utility award from Citywire Iberdrola has been recognized as the best regulated utility in EMEA (Europe, Middle East and Africa), according to the prestigious financial information group Citywire, which has specialized in measuring the performance of portfolio managers for more than 20 years. The electricity company is part of the so-called Elite group, which groups together the leading companies in 42 sectors. Iberdrola received the award thanks to the votes of the fund managers who have achieved the highest returns with their portfolios. Iberdrola's investments of more than 150 billion euros in renewables and networks have enabled the company to position itself at the forefront of the global energy transition . The company is also making steady progress on its 47 billion euro investment plan for the 2023-2025 period. The market has rewarded this effort. In the last 20 years, Iberdrola's shares have increased in value from 3.5 euros to around 11 euros, with an additional 6.5 euros per share being distributed in dividends. For a shareholder who has reinvested the dividend, the total return over the period represents an eightfold increase in his or her investment. In addition, Iberdrola is a AAA company for Citywire, a rating that means it is among the top 10% of buy conviction of the best portfolio managers. Citywire notes that "by focusing on where the best fund managers invest their clients' money, we have gained a unique insight into who the industry leaders are for these influential investors." The companies that these investors consider the best in their category are chosen based on the money they have invested in their stocks. In each of the 31 categories for Europe, the Middle East and Africa, the company most supported by the best-performing portfolio managers was the winner. Joseba Mota, head of Fixed Income and ESG in Iberdrola's Investor Relations department, collected the award in London at this first edition of the awards. He highlighted the great opportunities in renewables and grids presented by the energy transition and that, although Iberdrola's projects are large in size, the time in which they achieve profitability is relatively short on average, thanks to the diversification of technologies and geographies. READ MORE
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26/09/2023Iberdrola’s capacity in Greece rises to over 420 MW as Askio II and Rokani wind farms are fully commissioned Iberdrola has commissioned the 37.8-megawatt (MW) Askio II wind farm in Greece. Located in the provinces of Kozani and Eordaia, in the West Macedonia region of Greece, it joins the 50.4 MW Askio III project in full operation, which was completed in 2022. Total investment in both projects was close to € 100 million. Askio II consists of nine Vestas V150 wind turbines, each with a 4.2 MW capacity, a hub height of 105 metres and a rotor diameter of 150 metres. Both Askio projects are connected to the same grid point, with a combined annual production of around 180GWh anticipated. In parallel, the company has also commissioned 18-MW Rokani wind farm located in the Viotia region, Central Greece. The facility is equipped with 3 Vestas V162 turbines of 6 MW unit capacity, the largest and most powerful wind turbines in operation in Greece, with 205 metres hub height. Supporting the energy transition in Greece Through technological innovation and greater efficiency, the company is committed to develop competitive renewable energy , which is essential to advance in the energy transition towards a decarbonised model and combat climate change. Completion of the projects means that Iberdrola now has 421 MW of operational renewable energy capacity in Greece. The company has been present in the country since 2007, and now operates wind and solar projects in the regions of Central Greece, Crete, Thrace, Western Macedonia, Thessaly, Peloponnese and Dodecanese. Both Askio projects have made significant financial contributions to local communities, with €2.2 million invested in new infrastructure, supporting local businesses. During the construction and operational phases of the wind farms Iberdrola has created 282 direct and indirect jobs, supporting local supply chains. Askio Mountain Range construction challenges The Askio projects have been built in a mountainous region at an altitude of 1,500 metres above sea level. In order to navigate the narrow and steep roads, blade lifter technology was required. This involves a specialist trailer which can rotate and vertically tilt the blades during transport, ensuring the components could be moved along existing narrow roads, and avoiding the need for any additional construction work. READ MORE
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25/09/2023Iberdrola is the best ESG reporting utility in the world Iberdrola is the best utility in the world in ESG (environmental, social and governance) information disclosure, and the first company in Europe in the Print-Based Alternative Reports category of the League of American Communications Professionals (LACP) world ranking. LACP has evaluated nearly 1,000 annual reports (including those in digital format) from companies in numerous sectors and from more than twenty countries around the world. Iberdrola has been ranked as the world's leading utility and has achieved for the second consecutive year the Platinum award, with a score of 99 out of 100, for its digital space "Annual Integrated Annual Report and ESG Information 2022". In this call, special mention should be made of the letter from the Executive Chairman, Ignacio Galán, which was awarded the distinction of "Best Letter to Shareholders Worldwide". This ranking has valued the accessibility and transparency of ESG information to all stakeholders through this digital space, which has continued in the spirit of bringing together in a single area all the company's non-financial information for the year. In addition, LACP has taken into account the effort to digitalise ESG information, in an expanded form and with infographic material, which complies with numerous recognised reporting standards (GRI, SASB, IIRC, B4SI, Global Compact, etc.). For the second consecutive year, after its launch in 2021, Iberdrola has published the aforementioned microsite in keeping with its commitment to transparency and communication dissemination. This includes all relevant information on its ESG performance and the main associated financial metrics. Iberdrola's digital space dedicated to ESG has established itself as an innovative tool that promotes the company's well-known commitment to transparency and maintains its leadership in this area. It brings information in this area closer to stakeholders through a modern, digital and accessible format. READ MORE
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22/09/2023Iberdrola receives the Financial Times award for the best Pro Bono Legal and Fiscal Project in the Sustainability category Iberdrola has received the "FT Innovative Lawyers Awards" in the Responsible Business category for its Pro Bono project, the first Spanish company to do so. The FT Innovative Lawyers Awards are held each year by the prestigious Financial Times newspaper and specialist consultancy RSG Consulting. The awards analyse the innovative landscape of the legal sector in Europe, rating the most disruptive projects carried out by leading law firms and in-house counsel at Europe's leading companies. Iberdrola launched its Legal Pro Bono programme to encourage its Group's legal professionals to provide free legal services to non-profit entities that pursue general interest purposes (legal pro bono services), thus taking a further step in its involvement with society. The award, which is the most prestigious in the field of legal innovation, was presented at a gala event held at the Natural History Museum in London on 21 September. READ MORE
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22/09/2023Ignacio Galán receives the Business Leadership in Energy Transition 2023 Award Iberdrola's executive chairman, Ignacio Galán, has been recognized with the award for Best Business Leadership in Energy Transition 2023 at the El Periódico de la Energía Awards. The second edition of the El Periódico de la Energía Awards was held at the Rafael del Pino Auditorium in Madrid. READ MORE
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21/09/2023Iberdrola’s Ignacio Galán joins the UNICEF Generation Unlimited Global Leadership Council Iberdrola’s Executive Chairman, Ignacio Galán , today joined UNICEF’s Generation Unlimited Global Leadership Council. Launched by the UN Secretary-General at the 2018 UN General Assembly, and run by UNICEF, Generation Unlimited is a global Public-Private-Youth Partnership, seeking to connect millions of young people around the world with opportunities for training, empowerment, employment and social entrepreneurship. At a meeting in New York, on the side-lines of the UN General Assembly, discussions and debate centred on how to help prepare the next generation for a green and digital future. Topics on the agenda included how the rise of AI and the green transition are shaping the future of work. The Leadership Council is co-chaired by Catherine M. Russell, Executive Director, United Nations Children's Fund (UNICEF) and Bob Moritz, Chairman, PwC. The council is comprised of a diverse mix of business leaders, representatives from NGOs and charities, and government officials. Ignacio Galán, Iberdrola’s Executive Chairman, said: “We are in the midst of a green revolution, which is accelerating every day. Renewable energy is good for the planet, and the investment behind that offers vast opportunities for employment and skills development. We need people from every country and background to deliver the clean energy of the future. For vulnerable young people, getting access to those opportunities can be a challenge. The work of UNICEF and all the partners in Generation Unlimited will help to breakdown those barriers. It is an honour to join the leadership council and to be part of a programme that will help so many people.” As part of Generation Unlimited, Iberdrola is specifically supporting a programme in Brazil called the 1Million Opportunities (1MiO), which is designed to help vulnerable young people in the country's labor market, enhancing their skills, job opportunities and green employment. The company is also supporting the UPSHIFT innovation programme being led by UNICEF in Somalia, which seeks to train young people who are victims of violence and at risk of exclusion in innovation and social entrepreneurship. Iberdrola’s broader alliance with UNICEF also includes providing digital content and learning materials on climate change and sustainability to 'Learning Passport', UNICEF's global learning platform. This platform enables continuous access to quality education for children and young people around the world. In Spain, Iberdrola is also supporting 'Generation Unlimited España', a new multi-stakeholder alliance also designed to support vulnerable young people. Iberdrola is helping to design training courses that offer young people the necessary skills to play a role in the energy transition. READ MORE
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20/09/2023Ignacio Galán submits Iberdrola’s Climate Transition Plan to the UN Secretary-General as the company is recognised as a “first mover and doer” at the Climate Ambition Summit Iberdrola’s Executive Chairman, Ignacio Galán , today submitted the company’s accredited Climate Transition Plan to the UN Secretary-General António Guterres, as the company was recognised as a “first mover and doer” leader at the Climate Ambition Summit, during the UN General Assembly in New York. The leading clean energy company, which has been at the forefront of the energy transition for two decades, is one of the first companies to submit a plan, following the call last year from António Guterres for business leaders to step-up. Iberdrola’s comprehensive and actionable plan delivers on the rigorous criteria stipulated by the UN’s High-Level Expert Group on net zero pledges. Mr Galán urged more businesses to respond to the UN’s call to create and submit Transition Plans as global temperatures continue to rise. Ignacio Galán, Iberdrola’s Executive Chairman, said: “Delivering on the successful transition to a cleaner energy model requires the ambition and commitment of global business. Despite meaningful progress, there is still a gap between talk and action. We are proud to be among those businesses leading the way on climate action, but it is vital more companies create and submit robust transition plans. We are a year on from this latest call to action, and time is already against us in the fight against the climate crisis.” The Climate Transition Plan establishes the detailed actions and mechanisms Iberdrola will take to achieve its environmental objectives and ensure its activity contributes to the decarbonisation of the economy as a whole. Actions set out in the roadmap include: * Establishing the ambitious objectives for Iberdrola of achieving carbon neutrality for scopes 1 and 2 by 2030 and net-zero emissions before 2040 for all scopes, including scope 3. * Near and long-term science-based emissions reduction targets for the company consistent with the 1.5ºC Paris Agreement target. * A commitment to directly invest in projects with high sustainability impact, looking for synergies with biodiversity targets. Iberdrola has committed to a 2030 Biodiversity Plan which includes targets to ensure that business activity does not generate net deforestation by 2025 and has a net positive impact on biodiversity by 2030. * A decarbonisation strategy focused on emission abatement, working towards an electricity system fully based on renewables as the backbone of a decarbonised energy system. The Climate Transition Plan is backed by an ambitious investment plan (2023-2025) which commits €47 billion up to 2025 to promote the energy transition, with more than €27 billion allocated to networks and investments and €17 billion in renewable energy, to deliver 52,000 MW of renewable installed capacity by the end of the period (from ~40,000 MW in 2022), while increasing storage capacity to over 100 GWh. Iberdrola has undergone a profound transformation over the last two decades, anticipating the energy transition by 20 years to meet the challenges of climate change and the need for a clean, reliable, and smart business model: * Established itself as a global leader in renewable energy * Closed all its coal and fuel oil capacity globally – totalling 17 plants and ~8,500 MW between 2001-2020 * Invested €150 billion in the energy transition since 2001, expanding its operations to the US, the UK, Germany, France, Brazil, Mexico and Australia Embracing climate action has also led Iberdrola to multiply its assets by 7 times, reaching €160 billion, and to become the largest European utility and one of the three largest worldwide by market capitalization. Ignacio Galán added: “Business can – and should – use their levers and strengths to step up and play a more central climate leadership role. Setting out a clear roadmap, which businesses can be checked against, is vital to corporate emissions reduction efforts.” READ MORE
