Company news 2024

30/12/2024 - 09:55 UTC +01:00

With the award of this contract, Taylor Woodrow will be responsible for the civil engineering works for the substation

Iberdrola awards Taylor Woodrow the prep works for East Anglia Two onshore substation in the UK Iberdrola, through its renewable subsidiary in the United Kingdom , ScottishPower Renewables, has just incorporated Taylor Woodrow as a supplier for the preparatory works for the onshore substation associated with the East Anglia Two offshore wind farm (960 MW). The new offshore facility , which ScottishPower Renewables is building in the North Sea, continues to boost the UK economy and the offshore industry value chain. With the award of this contract, Taylor Woodrow will be responsible for the civil engineering works at the substation, which will in Friston, near Saxmundham, in the county of Suffolk, England. The work will include highway improvements and landscaping. Around 80 jobs are expected to be created while the agreement lasts. This is the latest announcement in a series of deals struck with suppliers by ScottishPower Renewables, following the success of the Allocation Round 6 auction in September. These include a turbine supply contract worth more than £1 billion (€1.2 billion) to manufacture the blades for the 64 turbines at the wind farm. You can read the full article at the ScottishPower Renewables Communications Room . READ MORE

23/12/2024 - 17:38 UTC +01:00

Iberdrola is the only European utility that has been present in the index throughout this time.

Iberdrola celebrates 25 years in the Dow Jones Sustainability Index Iberdrola celebrates 25 consecutive years in the prestigious international Dow Jones Sustainability Index (DJSI), which makes it the only European utility that has been present in the index throughout this time. This is reflected in the annual update published by the S&P Dow Jones Index, a division of S&P Global, which provides essential ESG data for investors, companies and governments to make decisions with confidence. Iberdrola is thus included as a member of DJSI World and DJSI Europe in the "Electric Utilities" sector. This reflects the group's firm commitment to the highest sustainability standards, as from an initial universe of around 13,000 companies, only those with the best scores are selected. The utility, Europe's largest by capitalization with a value of more than 80 billion euros, has met the S&P's requirements that decide index constituents. It complies with an increasingly demanding methodology that encompasses more than 120 sections related to sustainability, distributed in three pillars: respect for the environment, social commitment and good corporate governance. Iberdrola already has more than 44,000 megawatts (MW) of installed renewable capacity worldwide. The group's emission-free production stands at 84%, and in the United Kingdom, France, Italy, Germany, Poland, Portugal, Greece and Bulgaria it stands at 100%. Iberdrola aims to achieve emissions neutrality in its generation, distribution and consumption plants by 2030 (scopes 1 and 2) and to achieve net zero emissions in all the company’s activities by 2040. Iberdrola is a global reference, present in the main international sustainability indexes, including Moody's ESG, MSCI, Sustainalytics, ISS-ESG, CDP, FTSE4Good, Blomberg, EcoVadis, among many others. Leading the electrification of the economy After anticipating the current energy transition by 20 years with more than 160,000 million euros of investment, the company is making progress in its historic investment plan of 41,000 million euros in the period 2024-2026 (to which are added the 5,000 million euros from the purchase of the British ENW) and consolidates its business model based on more energy, grids, renewables, more storage and more smart solutions for customers. At the forefront of sustainability worldwide, 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 an example 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 and non-polluting energy (goal 7) and on climate action (goal 13), although it contributes directly to ensuring clean water and sanitation (goal 6), it has increased its investment in activities of R&D&i (goal 9), promotes respect for the life of terrestrial ecosystems (goal 15) and works to establish alliances to achieve the objectives (goal 17). READ MORE

23/12/2024 - 14:00 UTC +01:00

Once this transaction is completed, Avangrid remains its headquarters in Connecticut.

Iberdrola completes merger with Avangrid Iberdrola today completed its merger with US subsidiary Avangrid after acquiring the 18.4% of the shares it did not already control. Avangrid shareholders will receive $35.75 per share, and the company will be delisted from the New York Stock Exchange. The operation was completed after the green light was given by the Federal Energy Regulatory Commission (FERC), the Maine state regulator and also the New York state regulator, the latter last Friday. Avangrid shareholders who owned the stock on December 2, 2024 will also receive the proportional quarterly dividend until closing, which will be paid on January 2, 2025. Once this transaction is completed, Avangrid will operate as a private company, maintaining its headquarters in Connecticut. The merger will allow Iberdrola to invest in the United States more efficiently. The subsidiary will be able to participate more economically in new energy infrastructure projects in its grid and renewable businesses, representing a significant investment in local communities and generating hundreds of direct and indirect jobs. These projects will create a more robust, resilient and reliable power grid, and will help meet the growing demand from utilities and data centres. Avangrid, a leading company in networks and renewables The transaction will allow Iberdrola to continue to grow strongly in the United States after more than 20 years of presence in the country. About a decade ago, Iberdrola merged its North American subsidiary with the listed UIL Holdings to give rise to Avangrid, which has been listed on the US stock exchange ever since. Thanks to the growth experienced by the company over the last decade, Avangrid today has assets of 46 billion dollars. The company distributes electricity to a population of seven million people in the states of New York, Connecticut, Maine and Massachusetts and has an installed capacity of 8,700 MW of renewable energy in 24 states. It also has 8,000 employees. READ MORE

20/12/2024 - 22:03 UTC +01:00

Iberdrola obtains approval from New York regulator for Avangrid merger Iberdrola has today completed the last step for the acquisition of 100% of its subsidiary Avangrid, having obtained the approval of the New York regulator, after previously obtaining approvals from the federal regulator (FERC) and the Maine regulator. Once the transaction closes, scheduled for December 23, and under the terms of the merger agreement, Avangrid shareholders will receive $35.75 per share, and Avangrid's shares will cease trading on the New York Stock Exchange. Avangrid shareholders, who were shareholders on December 2, 2024, will receive the proportional quarterly dividend until closing*, which will be paid on January 2, 2025. With the closure, Avangrid will operate as a private company and maintain its headquarters in Connecticut. This merger will allow Iberdrola to invest in the United States more efficiently. The subsidiary will be able to participate more economically in new energy infrastructure projects in its grid and renewables businesses, representing a significant investment in local communities and the generation of hundreds of direct and indirect jobs. These projects will create a more robust, resilient and reliable electric grid, and help meet the growing demand from utilities and data centers. Avangrid, a leading grid and renewables company The transaction will allow Iberdrola to continue to grow strongly in the United States after more than 20 years of presence in the country. About a decade ago, Iberdrola merged its North American subsidiary with the listed UIL Holdings to give rise to Avangrid, which has been listed on the US stock exchange ever since. Thanks to the growth experienced by the company in the last decade, Avangrid today has assets of 46,000 million dollars. The company distributes electricity to a population of 7 million people in the states of New York, Connecticut, Maine and Massachusetts and has an installed capacity of 8,700 MW of renewable energy in 24 states. It also has 8,000 employees. * Corresponding to $0.44 per quarter calculated from the beginning of the quarter to the closing date READ MORE

20/12/2024 - 14:40 UTC +01:00

Iberdrola signs €100 M green loan with BEI guaranteed by SACE for new PV plant in Sicily The European Investment Bank (EIB) and Iberdrola, with SACE's Archimede guarantee, have signed a new €100 M green loan agreement to build a new photovoltaic plant in Italy. This investment is an important step towards increasing renewable energy production in Italy and achieving the European Union's climate targets. This is the EIB's first operation with Iberdrola covered by SACE. The new photovoltaic plant , to be located in the provinces of Enna and Catania in Sicily and operational by 2025, will have a renewable energy generation capacity of 242.78 MWp, enough to meet the annual needs of around 154,000 Italian households. The EIB will finance 70% covered by SACE's Archimede guarantee, a guarantee scheme granted at market conditions for financing and bonds for up to 25 years aimed at improving the competitiveness of the national system. EIB Vice-President Gelsomina Vigliotti said: "The EIB remains a key partner for Italy in the renewable energy sector. The EIB plays a key role in attracting foreign investors to the country to promote environmental sustainability, social cohesion and economic growth". Alessandra Ricci, CEO of SACE, said: "We are proud to partner with the EIB and Iberdrola for this landmark investment in the renewable energy sector in Sicily, a project that will not only boost productivity and competitiveness, but also create new job opportunities. To this end, since the launch of the Archimede guarantee last June, we have approved more than 4.9 billion in operations to boost Italy's growth potential". Valerio Faccenda, CEO of Iberdrola Italia: "Thanks to this EIB loan and SACE's support of Iberdrola, we will continue to promote Italy's energy transition with a project that will bring clean energy to 154,000 households". This project represents a model of sustainable development, combining technological innovation and respect for the environment. The photovoltaic plant will use state-of-the-art technologies, ensuring high energy efficiency and minimal environmental impact. In addition, plant construction and management will create new jobs in local communities, contributing to the region’s economic development. This operation marks the start of a partnership between the EIB, SACE and Iberdrola so this transaction can be replicated in the future. European Investment Bank (EIB) The European Investment Bank (EIB) is the long-term financing institution of the European Union, whose shareholders are its Member States. It finances investment that contributes to achieving EU policy objectives . EIB projects foster competitiveness, drive innovation, promote sustainable development, strengthen social and territorial cohesion and support a fair and smooth transition to climate neutrality. The EIB Group, which also includes the European Investment Fund (EIF) , signed a total of 88bn euros in new financing for more than 900 projects by 2023 . These commitments are expected to mobilise around €320 B in investment, supporting 400,000 businesses and 5.4 million jobs. Over the past five years, the EIB Group has financed projects in Italy worth more than €58 B. All projects financed by the EIB Group are in line with the Paris Agreement. The EIB Group does not finance fossil fuel investments. We are on track to deliver on our commitment to mobilise €1 T in investment for climate action and environmental sustainability by 2030, as set out in the Climate Bank Roadmap . More than half of the EIB Group's annual financing goes to projects that directly contribute to climate change adaptation, mitigation and a healthier environment. Approximately half of EIB financing within the European Union goes to cohesion regions, where per capita income is lowest. This underlines the Bank's commitment to promoting inclusive growth and converging living standards. SACE SACE is the Italian insurance-financial group, directly controlled by the Ministry of Economy and Finance, specialised in supporting Italian companies and the national economic fabric through a wide range of tools and solutions aimed at boosting competitiveness in Italy and worldwide. For over forty-five years, the SACE Group has been the benchmark partner for Italian companies exporting and growing in foreign markets. SACE also supports the banking system by facilitating companies' access to credit with its financial guarantees, supporting liquidity and investments in favour of competitiveness and sustainability under the framework of the Italian Green New Deal, starting from the domestic market. SACE is present all over the world. It has fourteen offices in the target countries of its domestically manufactured products (Made in Italy), whose role is to establish relationships with major local customers and, through specific financial instruments, to facilitate operations with Italian companies. With a portfolio of insured operations and guaranteed investments amounting to €260 B, SACE supports some 50,000 companies, mainly SMEs, backing their growth in Italy and in about 200 countries around the world. Iberdrola and its commitment to sustainable financing and the decarbonisation of the country Iberdrola continues to advance in its commitment to sustainability, based on the electrification of the economy, through clean energy, and aimed at fighting climate change and the creation of wealth and jobs in the communities where it operates. At the end of the third quarter of 2024, the group already had green financing or financing linked to sustainability criteria for more than €57 B, of which some €27 B correspond to green bonds. READ MORE

20/12/2024 - 14:06 UTC +01:00

Richard Goffin, Ports Director of Peel Ports Group, and Ross Ovens, CEO Offshore of ScottishPower Renewables.

Iberdrola working with Norfolk for its East Anglia Two offshore wind farm Iberdrola, through its renewable subsidiary in the United Kingdom, ScottishPower Renewables , has chosen the port of Great Yarmouth in Norfolk, England, for the pre-assembly works of its 960 MW East Anglia Two offshore wind farm. The British subsidiary of the Iberdrola Group and the port authority Peel Ports Great Yarmouth have signed an agreement to reserve the site and carry out this assignment. Components for the 64 turbines, including 192 blades manufactured at Siemens Gamesa's Hull plant, will arrive here from different regions of the UK and continental Europe before they are set up in the North Sea in 2028. The choice of Great Yarmouth for pre-assembly work demonstrates ScottishPower Renewables' commitment to the UK and the East Anglia region, further consolidating the region's reputation as a leading centre of the offshore renewables industry. The company already operates the 714 MW East Anglia One offshore farm in the region’s waters, whose 102 turbines produce enough clean energy to power the equivalent of 630,000 British homes. The East Anglia area has also become the heart of the company's offshore wind operations. The East Anglia Hub offshore wind macro-complex is being built here, bringing together three projects with a total installed capacity of 2,900 MW: East Anglia One North, East Anglia Two and East Anglia Three. The projects, which will involve an investment of 10 B pounds, began in 2022 and will last for four years. The capacity of this hub will be able to supply 2.7 million British households with clean energy. You can read the full story at the ScottishPower Communications Room . READ MORE

19/12/2024 - 13:58 UTC +01:00

The Windanker offshore wind farm will have 21 offshore wind turbines, each with a capacity of 15 MW.

Iberdrola and SCHWENK: Green Electricity for Building Materials Manufacturer Berlin, December 19, 2024 – Iberdrola Germany and SCHWENK Zement GmbH & Co. KG are cooperating in green electricity supply and have agreed on a long-term delivery. From the offshore wind farm Windanker , currently under construction in the Baltic Sea, 1.500 GWh will be supplied to SCHWENK during the contract duration. With the supply from the Windanker offshore wind farm, SCHWENK can cover about 20% of its electricity needs from certified alternative sources, based on current electricity demand, which represents a significant portion. The companies agreed on a fixed price, providing mutual long-term planning security. Thomas Spannagl, CEO of SCHWENK Building Materials Group, commented: "Our commitment to sustainability is reflected in our continuous efforts to reduce specific electricity demand, improve thermal energy efficiency, and lower CO2 emissions. Another important component is the gradual increase in the proportion of green electricity at SCHWENK through our own photovoltaic projects. The partnership with Iberdrola is therefore a clear signal towards sustainability, and we are pleased to make a significant contribution to increasing our share of green electricity." "Supplying the German industry with green electricity is a central element of our strategy in Germany," emphasized Felipe Montero, CEO of Iberdrola Germany. "We are very pleased about this long-term partnership on an equal footing that we are now entering into with SCHWENK," Montero continued. "In doing so, we are not only cooperating with an important building materials manufacturer, but also with a family business with tradition and a vision for the future. In the future, we also want to support other industrial companies in achieving their climate goals." Leading in the Baltic Sea with Windanker and the Baltic Hub The planned offshore wind farm Windanker will consist of 21 offshore wind turbines, each with a capacity of 15 MW. Windanker will be connected to the grid in 2026 with a connection capacity of 300 MW. The wind farm will be located approximately 38 km northeast of the German island of Rügen, covering an area of about 17.9 km². This third offshore wind farm by Iberdrola in the German Baltic Sea follows the projects Wikinger and Baltic Eagle. Wikinger has been operational since 2017, and Baltic Eagle, the second offshore wind project off Rügen, is currently being realized. Together, these offshore wind farms form Iberdrola's so-called Baltic Hub. By 2026, this hub will have a total capacity of more than 1.1 GW. Investments of approximately €3.7 billion are planned for the Baltic Hub. This makes Iberdrola Deutschland the largest operator of offshore wind farms in the German Baltic Sea. Additionally, in the onshore sector, Iberdrola Deutschland is involved in the planning, construction, and operation of onshore wind farms and photovoltaic projects. About SCHWENK SCHWENK was founded in 1847 in Ulm by Eduard Schwenk. Over the years, the company has evolved into a corporate group and is one of the most innovative and modern members of its industry in Germany. SCHWENK's core business consists of five divisions: cement, concrete, sand & gravel, concrete pumps, and recycling. The SCHWENK Building Materials Group employs around 4,500 people and operates with companies and subsidiaries in Central Europe, Northern Europe, Eastern Europe, and Namibia. About Iberdrola Iberdrola is the largest electricity company in Europe by market capitalization, and one of the top three largest globally, serving a population of more than 100 million people around the world. The company has a workforce of over 42,200 and assets in excess of €150 billion. In 2023, Iberdrola posted revenues of nearly €50 billion, net profit of €4.8 billion, with nearly €9.3 billion paid in tax contributions in the countries where it operates. The company helps to support more than 500,000 jobs in communities across its supply chain, and global supplier purchases topped €18.1 billion in 2023. Iberdrola was the company that signed the most PPAs in 2023, according to the European PPA Market Outlook 2024. A benchmark in tackling climate change, Iberdrola has invested more than €150 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) princi-ples. The company operates more than 43,000 megawatts (MW) or renewable energy capacity worldwide, which includes nearly 21,000 MW of onshore wind and 2,300 MW of offshore wind. Iberdrola is on course to have nearly 5,000 MW of offshore wind capacity by the end of 2026. READ MORE

19/12/2024 - 13:20 UTC +01:00

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