Noticias
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16/07/2024 - 15:00 UTC +02:00Iberdrola begins producing clean energy at its True North photovoltaic plant in Texas Iberdrola, through its US subsidiary Avangrid , has begun producing clean energy at its True North photovoltaic plant, the first it has installed in the state of Texas. The company has already commissioned 20 MW of the 238 MWac (321 MWdc) that the facility will have when it comes online. True North will supply clean, renewable energy to power Meta's operations in the region through a long-term power purchase agreement (PPA) for its upcoming 100 percent renewable energy data centre in Temple. To read the full story visit Avangrid's Press Room . READ MORE
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15/07/2024 - 09:00 UTC +02:00Project WinDTwin Pioneers a New Era of Offshore Wind Energy Optimisation The offshore wind energy sector is poised for a significant transformation with the launch of WinDTwin, a groundbreaking European-funded project aimed at revolutionising wind power production forecasting and management. With a grant of €6 million, this three-year initiative unites a diverse consortium of 13 entities from 7 countries, unified by the goal of creating a highly accurate and dynamic digital twin (DT) for offshore wind farms. As the global demand for renewable energy intensifies, expanding both onshore and offshore wind farms become crucial. Existing wind farms highlight the importance of strategic micrositing of turbines and their optimal interconnection. However, as we move towards integrating wind farms into larger clusters and virtual power plants, the potential for long-distance negative interactions emerges, which can detract from the efficiency gains that clusters aim to achieve. To address these challenges, WinDTwin will develop a sophisticated digital twin platform. This platform aims to transform the industry by offering precise predictions of power production and energy demand. It will serve as a central hub for decision-makers, offering access to a suite of high-quality resources, models, scenarios, and visualisations, thus enabling more informed and strategic choices in the management of offshore wind energy. The success of WinDTwin depends on the collaboration of its diverse and experienced consortium. With expertise in wind energy production, industrial codes, numerical methods, and algorithms, this collective effort is crucial for achieving the ambitious innovation-led research objectives set. The synergy among the participating entities ensures that the project harnesses a broad range of skills and perspectives, vital for driving forward its groundbreaking goals. WinDTwin's development will focus on several strategic objectives designed to enhance the capabilities and efficiency of offshore wind farms: * Accurate Forecasting: Improve wind and weather predictions with enhanced models. * Optimal Layout: Design precise spatial models to reduce inefficiencies. * Efficient Turbine Control: Maximise turbine output with advanced control systems. * Sustainable Energy: Explore hybrid and eco-friendly energy solutions. * Precise Yield Prediction: Use simulations for accurate energy forecasts. * Seamless Grid Integration: Ensure efficient connection with power grids. * Demand and Price Insights: Model electricity demand and price trends. * Proactive Maintenance: Monitor and maintain turbines with predictive analytics. * Customised User Experience: Tailor digital twin features to user needs. * Robust Data Systems: Implement efficient data management practices. * Open-Source Innovation: Foster industry collaboration with open-source tools. * Strategic Growth: Plan for the digital twin’s future development and commercial use. “WinDTwin represents a significant leap forward in our ability to harness and manage offshore wind energy. By integrating advanced digital twin technology, we are setting a new benchmark for precision and efficiency in wind power forecasting and decision-making. Our collaborative approach, drawing on the expertise of our distinguished partners, positions us to drive impactful innovations that will benefit the entire renewable energy sector,” said Oriol Lehmkuhl, Group Leader of Barcelona Supercomputing Center, Coordinator of WinDTwin. About the WinDTwin Consortium: The WinDTwin project is a collaborative effort involving 13 leading organisations across Europe, including: * Barcelona Supercomputing Center * Fraunhofer IEE * WAVEC Offshore Renewables * EPRI Europe * SOLUTE * Universität Kassel * IBERDROLA * SINTEF Ocean * +Atlantic * Open Cascade * CNET Centre for New Energy Technologies * MET Centre * ENGIE Laborelec Together, these partners are committed to advancing the capabilities of offshore wind farm management and fostering innovation in the renewable energy sector. READ MORE
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12/07/2024 - 17:49 UTC +02:00Iberdrola's renewable energy production sets all-time highs in the first half of the year Iberdrola’s steadfast commitment to investing in clean energy and decarbonisation has enabled the company to set a new renewable energy production record in the first half of 2024. Renewables production exceeded 45,000 GWh globally (45,181 GWh) – an increase of 5.3% compared to the same period last year. The record production figure was driven by new installed capacity (in the last 12 months Iberdrola has installed almost 3,100 MW of renewable energy), supported by an increase in the use of pumped hydro storage. A focus on clean energy Spain has made a significant contribution in the period. Renewables generation in the country exceeded 18,500 GWh in the first half of 2024, an increase of 21%, despite the lower production of onshore wind. This was offset by an increase in hydroelectric generation, especially from the pumped-storage hydro fleet. The hydro reserves currently stand at more than 77.1%, even though production recorded in the semester has been at record levels. By country, in addition to Spain's performance, the increases in renewable generation in the United Kingdom (+8%), Mexico (+10%) and the rest of the world (+33.5%) stand out. The group's renewable capacity exceeds 43,400 MW (43,421 MW) - after almost 3,100 MW of new capacity additions in the last 12 months, as reported today by the company to the National Securities Market Commission (CNMV). Iberdrola has installed 1,891 MW of solar PV and 1,046 MW of wind, mainly offshore. Offshore wind capacity has increased by nearly 60% to 2,167 MW. This includes the incorporation of Saint Brieuc (France) to the first wind turbines in operation at Vineyard Wind 1 (USA) and Baltic Eagle in Germany. With this new capacity, Iberdrola continues to support the electrification of the economy, energy security, and the provision of clean and competitive energy for customers. The figures show that Iberdrola generates 100% emission-free energy in countries such as United Kingdom, Brazil, France, Italy, Germany, Poland, Portugal Greece and Bulgaria. In addition, the emission-free production in Spain stands out, reaching 92% of total production in the country. Commitment to electrification In March this year, Iberdrola presented its new strategic plan 2024-2026, in which it has committed to invest 41 billion euros to promote the electrification of the economy. 60% of the investments will be allocated to networks, the main growth area for the Group, given the investment needs in the company’s markets to integrate new renewables, improve resilience and quality of service and continue to incorporate new digital technologies and meet the new demand areas (such data centres and electric mobility). Investments in renewables will represent 30% of the total, mainly focused on offshore wind. The rest of the investments (1.5 billion euros) will be allocated to storage, an essential technology to balance supply and demand in a system with an increasing penetration of non-manageable renewables. The company will reach 120 million KWh of storage capacity by 2026, an increase of 20%. In addition, the group has an additional portfolio of 150 million kWh. READ MORE
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12/07/2024 - 15:00 UTC +02:00Iberdrola and Multiverse Computing announce pilot project success to optimise battery installation in the grid Iberdrola , one of the world’s largest clean energy companies, and Multiverse Computing , a global leader in value-based quantum computing solutions, have successfully delivered a pilot project in northern Spain to optimise the installation of grid-scale batteries, which will become increasingly important as the energy transition progresses. As electricity grids are integrating increasing amounts of renewable generation, electric vehicles, heat pumps and other distributed energy resources, battery storage is providing an increasingly important service to ensure grid stability. Multiverse’s solution uses quantum and quantum-inspired algorithms to select the optimal number, type and locations of batteries on the grid network. This reduces the costs of adding batteries to the grid and increases network performance. i-DE , Iberdrola’s distribution company in Spain, oversaw the pilot project, which was focused on Guipuzkoa’s electricity grid (Basque Country, Spain). During the ten-month pilot, some quantum and quantum-inspired algorithms matched or outperformed classical benchmark to maximize grid reliability and voltage control. The project was developed under the wings of Iberdrola’s Global Smart Grids Innovation Hub and part of the Gipuzkoa Quantum Program. “With the power of quantum computing, private and public institutions can meet sustainability goals while saving on both fixed and variable costs,” said Enrique Lizaso Olmos, CEO of Multiverse Computing. “We are proud to support the development of more reliable and economical green energy in Spain alongside a world-leading clean energy provider like Iberdrola.” Estibaliz Goñi, Process and Technology director of i-DE, also stated: “The results of this pilot project are encouraging, and we will continue exploring the deployment of this technology. There are many challenges to overcome to ensure we have the smart and robust grids required to deliver the energy transition, and innovations like this will help us get there.” According to a recent report by the IEA, meeting climate goals will require adding or refurbishing 80 million kilometers (~50 million miles) of electricity grids by 2040 – the equivalent of the entire existing global grid. Also, another report by the same agency showed that the investment ratio between renewables and networks has been imbalanced for the past years and meanwhile in the past, the investment ratio between renewables and grids was 1$:0.4cts, to achieve climate goals, that ratio must be adjusted to reach 1:1, minimum. The Project To achieve the pilot’s goal, the 10-month project used a quantum annealer and classical hardware to test the optimization solution. This algorithm was tested in grids of different sizes, exploring this solution first on small-scale grids and then in larger ones, such as Gipuzkoa’s grid. To address the need for more resilient and cost-effective electric grids, Multiverse Computing and Iberdrola implemented quantum and quantum-inspired solutions to achieve improvements in grid batteries across three key areas: * Initial cost: Optimize the cost of buying and installing multiple batteries in the electrical grid. * Voltage control: Maximize the capacity of maintaining voltage levels in the nodes of the gird. * Reliability: Minimize the impact to customers of power outages in the grid. The project team used Singularity, Multiverse Computing’s platform for quantum and quantum-inspired software, to optimize the network. Quantum-inspired techniques use insights and mathematical models from quantum physics to develop better classical algorithms. The tool enables users without experience in quantum computing to utilize quantum optimizations to boost the speed and accuracy of solutions for complex problems in the energy sector and other industries. The Partnerships This pilot was developed under the umbrella of Iberdrola’s Global Smart Grids Innovation Hub. This innovative space, located in Bilbao, is a world-class center for innovation and knowledge in smart grids. It acts as a collaborative platform, bringing together Iberdrola’s technological expertise with over 100 partner entities and companies. The hub focuses on addressing the challenges of the energy transition, including digitalization, data management, and adaptability to new consumption models like electric mobility and self-consumption. Its mission is to lead the energy transition by fostering talent and accelerating innovation in smart grids. The project, initially announced in 2023, is also part of the Gipuzkoa Quantum Program in the Basque Country of Spain, a quantum computing hub and smart grid innovation center, offers financial incentives for collaborations between quantum startups and potential customers. READ MORE
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11/07/2024 - 15:00 UTC +02:00Iberdrola begins installation of the Powell Creek solar plant in the US Iberdrola, through its US subsidiary Avangrid, has begun the installation of its Powell Creek solar project in the state of Ohio. The new plant will have a capacity of 202 MWdc generating enough clean energy to power 30,000 homes annually. During construction, the project will create up to 400 jobs − most of which are being filled by people from the region. Powell Creek is Avangrid's second renewable energy project in Ohio, where the company has the Blue Creek wind farm, which has a capacity of 304 MW and generates enough power for around 76,000 homes each year since 2012 Ti read the full story visir Avangrid's Press room . READ MORE
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11/07/2024 - 10:00 UTC +02:00Iberdrola will supply renewable energy to all Burger King® restaurants in Spain Iberdrola, through its subsidiary in Spain, and Burger King® have signed a new long-term Power Purchase Agreement − known as PPAs −. Iberdrola will supply 1,500 Gigawatt hours (GWh) of clean energy from the Francisco Pizarro photovoltaic plant (Cáceres), with an installed capacity of 553 MW. Furthermore, both companies are committed to working together to seek new opportunities to promote the use of clean energy, leading to a more energy efficient business model. You can read the full article in the Iberdrola España Communications Room . READ MORE
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09/07/2024 - 18:15 UTC +02:00Iberdrola places 750 million in 10-year green bonds with strong investor support Iberdrola has once again succeeded in the capital markets with a 10-year green debt issue for €750 million and a coupon of 3.625%, with the lowest premium for a green bond among those issued this year. Europe's leading electricity company in terms of capitalisation has achieved this after receiving an initial demand of more than €4 billion from over 220 investors, which has allowed it to set the credit spread over the corresponding benchmark − the midswap in euros at that term − at 83 basis points. This is the third public operation so far this year, following the €700 million hybrid bond (subordinated debt) issued at the beginning of the year and the most recent one issued a few weeks ago in the Swiss market for CHF 335 million . The company will present its first half-year results on 24 July with most of the financing plan for the year already satisfactorily executed. The company has taken advantage of the good international context, with a stable market environment, following the knowledge of the election results in France − an event that had generated some volatility in the markets during the past weeks. This issue has attracted the attention of investors and has obtained strong demand. It exceeded €4 billion, which enabled a final credit spread of 83 basis points over the corresponding benchmark (ten-year midswap) to be obtained, a very narrow level, which allowed a coupon of 3.625% to be fixed. More than 220 investors participated in the issue, with the placement distributed in France (36%), Germany (16%), the United Kingdom (17%), Benelux (15%) and other European countries (16%). Green bonds tend to generate higher demand and lower cost, as socially responsible investors add to the interest of mainstream investors. A big part of the operation − 85% − was placed with ESG investors, so Iberdrola continues to diversify its investor base and broaden demand, which improves the execution of these transactions in difficult market times. The funds raised will be allocated to Green Eligible Assets, as defined in Iberdrola's Green Financing Framework. Nine banks participated in the placement: BBVA, Bank of America, HSBC, Kutxabank Investment Norbolsa, Mizuho, Natixis, Standard Chartered, Unicredit and Wells Fargo. This operation allows the group to shore up its liquidity, in anticipation of a potential increase in market volatility after the summer. This transaction allows it to strengthen its already comfortable liquidity position, at excellent conditions and at a good time in the market, while offering investors the possibility of participating in a senior Iberdrola transaction in the first part of the year. International confidence Investor confidence in Iberdrola is steady. In addition to last month's Swiss franc issue, in March Iberdrola signed a €700 million green loan with the European Investment Bank for the expansion of electricity grids in Spain, and in January Iberdrola and the World Bank extended their partnership with a €300 million green loan for renewable projects in emerging countries. In the same month, iberdrola issued €700 million in hybrid bonds , thus keeping the company's hybrid volume stable at €8.25 billion. The funds obtained were used to refinance the renewable assets that had been financed with the hybrid bond issued in 2018, which was replaced with this operation. At the end of December, the company signed its largest credit line in history for €5.3 billion with 33 international banks. The cost of this operation was at the most competitive levels for Iberdrola, with prices similar to those of 2019, and the operation was oversubscribed by more than 40%, demonstrating the strong commitment of the banks to Europe's leading utility by capitalisation and the second largest in the world. Global leader in sustainable and green finance Iberdrola has established itself as a global benchmark in sustainable financing with more than €50 billion in outstanding transactions and is the world's leading private group in green bond issuance, after becoming the first Spanish company to issue a bond of these characteristics in 2014. The group currently has close to €22 billion of green bonds outstanding. In the banking market, in 2016, the company also signed the first green loan for an energy company, amounting to €500 million. That operation was followed by various loans and credit lines linked to sustainability criteria. READ MORE
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08/07/2024 - 22:30 UTC +02:00Iberdrola announces agreement for sale of Kitty Hawk North offshore lease area to Dominion Energy Iberdrola, through its US subsidiary Avangrid, today announced an agreement for the sale of the Kitty Hawk North offshore wind lease area to Dominion Energy. The agreement, which includes the Kitty Hawk North offshore wind lease area and associated assets, is for a sale of approximately $160 million, inclusive of a payment of about $3,000 per acre for the nearly 40,000-acre lease. The sale price consists of a lease acquisition payment of $117 million and associated development cost reimbursement to Avangrid. Avangrid retains the ownership and associated rights to the Kitty Hawk South lease, and will continue the development of the area, which has the potential to deliver up to 2.4 Gigawatts of power to North Carolina, Virginia, or other states or private companies. You can read the full story in the Avangrid Press Room . READ MORE
