Noticias
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22/05/2024Iberdrola expands its alliance with pharmaceutical giant Bayer to supply green energy in Italy Iberdrola and German pharmaceutical giant Bayer have extended their partnership, signing a green power purchase agreement (PPA ) in Italy for 11 years from January 2025, for a total of 33 GWh over the period. The agreement expands the international alliance between Bayer and Iberdrola, adding to existing agreements between the two companies in Spain and Mexico to promote cleaner and more sustainable consumption. Bayer's plant in Garbagnate (Milan) will use only electricity from renewable sources, confirming the pharmaceutical company's commitment to environmental sustainability. The energy will be produced by the Montefiascone photovoltaic plant (in the Lazio region), Iberdrola's second photovoltaic plant in Italy with a total installed capacity of 7 MW. Once operational, the plant will prevent the emission into the atmosphere of more than 3,200 tonnes of CO2, equivalent to the electricity demand of more than 4,000 homes. Iberdrola's role in Italy Iberdrola is actively involved in the development of strategies and solutions for industrial decarbonisation, based on the use of renewables and the promotion of self-consumption, which enable the reduction of environmental impact. With the inauguration of its second operational plant and the completion of the photovoltaic plants already authorised, Iberdrola will have an operational capacity of 400 MW in Italy by 2025. Several companies in Italy have already entrusted Iberdrola with the long-term supply of green energy through corporate PPA agreements, such as those signed this year with the Tosano supermarket chain and the BTicino metallurgical company. Leading the PPA market Iberdrola has signed long-term power purchase agreements in Europe, the UK, the US, Brazil, Mexico and Australia from onshore wind, offshore wind and photovoltaic projects. The group began developing this type of agreement more than a decade ago and Iberdrola is now the leader in the ranking of PPAs in Europe in 2023, according to the consultancy Pexapark. Iberdrola has sold around 90% of the energy it plans to generate between 2024 and 2025, giving the company visibility in delivering sustainable energy in the long term. READ MORE
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17/05/2024Iberdrola and Avangrid reach an agreement to acquire 100% of the American company Iberdrola has today signed an agreement to acquire the 18.4% minority stake in its US subsidiary Avangrid , which it previously did not own. The Board of Directors of Avangrid has approved the transaction, following the recommendation of a committee made up entirely of independent directors that has been delegated the authority to oversee this operation (Special Committee). Iberdrola will acquire the additional capital for $35.75 dollars per share, according to the company’s filing with the National Securities Market Commission (CNMV). This price represents an improvement over Iberdrola's original proposal ($34.25 per share). Iberdrola previously owned approximately 81.6% of the U.S. company. This price represents an investment of $2.551 billion for Iberdrola - about €2.348 billion (at a 1.0866 EUR/USD exchange rate). Following the closing of the transaction, a request will be made to delist Avangrid shares from the New York Stock Exchange. The agreement has had the unanimous favourable vote of the members of the Boards of Directors of both Avangrid and Iberdrola. The objective of this transaction is to increase exposure to the networks business in the United States at a key moment for Iberdrola, which wants to grow in markets with strong credit ratings and in regulated businesses such as networks. The transaction is conditional on requisite shareholder approval and approval from various regulators, such as the Federal Energy Regulatory Commission and the state regulatory commissions of New York and Maine. Headquartered in Connecticut, Avangrid currently has $44 billion in assets and operations in 24 US States. Its main businesses are two: networks and renewable energy. Through its networks business, Avangrid owns and operates eight electric and natural gas companies, serving more than 3.3 million customers in New York and New England. Through its renewable energy business, Avangrid owns and operates a portfolio of renewable energy generation facilities throughout the United States. Currently, the company has 8,000 employees. In 2023, the company obtained an adjusted gross operating profit (EBITDA) of $2.43 billion. READ MORE
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17/05/2024Shareholders resoundingly support Iberdrola's strategy and management Iberdrola held its General Shareholders' Meeting today at the Iberdrola Tower in Bilbao, at which the group's chairman, Ignacio Galán, received resounding shareholder support for his management and strategy at the helm of the company. The Board, with a quorum of attendance over 75%, approved all the proposed resolutions included in the agenda with an average of 98,2% votes in favour. During his speech, Ignacio Galán highlighted the positive impact that the company is delivering. "The huge investments, the geographical diversification, our financial strength and the best team are the foundations to ensure we remain on our path of growth in results and dividends," he said. Thanks to the €11.4 billion invested in electricity grids, renewables, and storage infrastructure in 2023, the company has further promoted energy autonomy, environmental protection, competitiveness and employment worldwide. This effort means Iberdrola now manages an asset base in excess of 150 billion euros and delivered a net profit of 4.8 billion euros in 2023. With these results, the General Shareholders' Meeting – at the proposal of the Board of Directors – has approved the distribution of more than 3.5 billion euros among shareholders, which represents an increase of 10.8% in remuneration charged to 2023 results compared to 2022, to 0.55 euros gross per share. This amount is made up of the €0.202 gross per share already paid in January, plus another €0.348 gross per share to be distributed in July. In addition to this shareholder remuneration, there will also be an engagement dividend of €0.005 gross per share, after achieving a quorum of 70% of the share capital at the Shareholders' Meeting. Thanks to the company's continued growth trajectory , any investor who has reinvested their dividends since 2001, will have seen their profitability grow by 10 times. This growth has seen Iberdrola become the leading electricity company in Europe with a market capitalization of around 80 billion euros. Leading the electrification of the planet During his speech, the Mr. Galán stressed that 2023 has marked a turning point. "Technological advancement, coupled with the choice of electricity to increasingly cover the energy uses of millions of consumers around the world, makes electrification an unstoppable process." In this context, Mr. Galán believes that Iberdrola is well placed to maximize opportunities, thanks to its strategy and consistent delivery over decades. "We are in the best position to continue to set in motion a positive cycle of growth, financial strength and value creation for all. We are going to invest 41 billion euros up to 2026, compared to 32 billion euros in the previous three-year period," he said. Of this amount, almost two-thirds of the investments will be allocated to increasing capacity and digitization in electricity grids. "In renewables, we plan to invest a total of 15billion, of which more than half will go to offshore wind, in projects that we already have under construction, such as Saint Brieuc, in France; Baltic Eagle and Windanker, in Germany; Vineyard Wind, in the United States; and East Anglia 3, in the United Kingdom," said Mr. Galán. Commitment to society Mr. Galán also stressed that these positive forecasts will be accompanied by a focus on social commitment, as the company will continue to generate value for everyone: employees, customers, suppliers, the countries in which it operates and shareholders. "We are committed to incorporating 10,000 new professionals around the world in the next three years, increasing the diversity of a workforce that already has 90 nationalities and further encouraging the entry of women, which so far in 2024 has grown by 40%," he said. The Executive Chairman also stressed that he intends to make purchases of goods and services of approximately 40 billion euros from suppliers that employ more than half a million people. In addition, he pointed out that the company will contribute some 25 billion euros in taxation to 2026, supporting social services in all the countries in which the electricity company is present. This plan is underpinned by a commitment to the environment, which will see the company invest 9 out of every 10 euros in activities classified as sustainable by the authorities of the European Union. "Thanks to this commitment, we will further reduce our emissions, which today stand at just 60 grams per kilowatt hour, 80% less than our European competitors, until we achieve climate neutrality in our generation plants by 2030," he said. The plan will deliver a gross operating profit (EBITDA) of between 16.5 and 17 billion euros in 2026, and a net profit of between 5.6 and 5.8 billion, with a growth of around 20% in the period. This roadmap is also combined with improving financial strength and increasing the dividend in line with results, to between €0.61 and €0.66 per share in 2026, which is 20% more than present. The company will allocate a total of 11 billion euros to dividends over the next three years. Composition of the Board Shareholders have also resoundingly supported the proposals regarding the re-election of Nicola Mary Brewer and Regina Helena Jorge Nunes, as independent directors, as well as Íñigo Víctor de Oriol Ibarra, as external director. In this way, the company consolidates the high level of independence of the members of its Board of Directors and their diversity, at all levels. The broad age range, experience, and background of the directors, with six nationalities present on the governing body, reflect the company's firm commitment to diversity. READ MORE
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16/05/2024Ignacio Galán meets with the President of the Provincial Council of Biscay and the Mayor of Bilbao Ignacio Galán , the Executive Chairman of Iberdrola, held two meetings in Bilbao with the President of the Provincial Council of Biscay Elixabete Etxanobe, and the Mayor of Bilbao Juan Mª Aburto. These meetings took place prior to the General Shareholders' Meeting , which will be held on Friday 17 May at 11 a.m. at the Company's headquarters in Bilbao, at Torre Iberdrola (Iberdrola Tower). Iberdrola will hold an even more participatory, accessible, close, sustainable, and innovative General Shareholders' Meeting, making available to its shareholders multiple channels for participating remotely or attending telematically. READ MORE
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14/05/2024Ignacio Galán meets with shareholders in Bilbao prior to the 2024 AGM The Executive Chairman of Iberdrola participated this morning in Bilbao in the Shareholders' Day, held at Torre Iberdrola with more than 700 attendees, many of whom have been shareholders of the Company for generations. During the meeting, Ignacio Galán thanked the atendees for their support and involvement and reaffirmed the company's commitment to value creation. In this regard, he highlighted the increase in the dividend, which will reach 0.55 euros per share - an increase of 10.8% - in accordance with the proposal to be presented next Friday to the General Shareholders' Meeting. The Executive Chairman also highlighted Iberdrola's set of initiatives to promote employment and economic activity, environmental protection, innovation and social action. The latter make up the company's so-called social dividend, enshrined in its Articles of Association. The Executive Chairman also had the opportunity to comment on the 2024-2026 Strategic Plan, which will involve investments of €41 billion. Encouraging shareholder involvement Shareholder Day is one more of the initiatives launched by the Company throughout the year to encourage shareholder involvement. To this end, Iberdrola has the interactive channel OLA - On Line Shareholders, which deals with their queries in detail 365 days a year, thus functioning as a "permanent meeting". In addition to this initiative, there are other initiatives run throughout the year by the Shareholders' Club, such as visits and events and the sending of documents. And, of course, within the framework of the General Shareholders' Meeting, Iberdrola has implemented various options for attending, granting proxies, or voting remotely, which are available to all shareholders on its corporate website. READ MORE
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14/05/2024The Iberdrola Group in Brazil, finalist for the Golden Tombstone Award for two of the best Corporate Development (M&A) transactions in 2023 The Golden Tombstone Awards of the Brazilian Institute of Finance Executives (IBEF) seek to encourage and stimulate the market by recognising fundraising operations that stand out for their relevance and innovation. Two Iberdrola Group operations in Brazil -Unique and Spring- stand out among the best of 2023 and have been selected as finalists. This prestigious award has three categories: Debt (DCM), Equity (ECM) and M&A (in which Neoenergia, the Group's Brazilian subsidiary, participates). No other project in the electricity sector has been selected for the final in this last segment, which once again reinforces the Group's capacity to carry out innovative operations with great value creation capacity. It is also the first time that a company has reached this decisive stage with two projects in the same category. Neoenergia is competing against Nestlé for the success of its Unique operations, which involved an alliance with GIC as a partner in the transmission business , and Spring, a swap of hydroelectric assets with Eletrobras. The final result will be announced on 19 June. READ MORE
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09/05/2024First wind turbine installed at Baltic Eagle offshore wind farm The first of a total of fifty wind turbines has been successfully installed at the 476 MW Baltic Eagle offshore wind farm, a joint venture between Iberdrola, a world leading clean energy company, and Abu Dhabi Future Energy Company – Masdar, the UAE’s clean energy powerhouse. Working in partnership with Vestas, the remaining wind turbines will now be transported to the offshore construction site in the coming months and then installed using the jack-up vessel Blue Tern owned by Fred. Olsen Windcarrier. Baltic Eagle is on track to become operational by the end of 2024, when it will supply renewable energy to around 475,000 households and contribute to Germany’s clean energy transition. Milestone reached thanks to strong partnerships “With the installation of its first wind turbine, Baltic Eagle is taking shape off the German Baltic coast. This marks the start of the final phase in the construction of the offshore wind farm, which is expected to become fully operational later this year," commented Felipe Montero, CEO of Iberdrola Deutschland. “My special thanks go to the Baltic Eagle team for their tireless efforts and outstanding performance. Thanks to the support of Vestas and our partner Masdar, we are confident that we will successfully complete what so far has been an outstanding construction campaign. With the commissioning of Baltic Eagle, the second offshore wind farm in our Baltic Hub, Iberdrola Deutschland continues its growth path, making a significant contribution to Germany’s Energy Transition." Husain Al Meer, Director, Global Offshore Wind at Masdar added: “We are delighted that, together with Iberdrola and Vestas, we have taken this significant step toward making the landmark Baltic Eagle wind farm a reality. Masdar has a long-standing commitment to advancing offshore wind projects across the globe. Baltic Eagle will provide clean, renewable power to hundreds of thousands of homes, reducing carbon emissions and supporting Germany with its energy transition. We look forward to seeing the project come to life over the coming months, delivering tangible benefits to the local community and setting a precedent for sustainable energy solutions.” “It’s a special moment to see the first wind turbine at Baltic Eagle installed, reflecting how everyone involved supports Germany’s clean and secure energy and offshore wind targets in the Baltic Sea,” says Nils de Baar, President of Vestas Northern & Central Europe. “Vestas is proud to be part of this project and our thanks go to our partner Iberdrola for their trust in our technology and the strong and productice collaboration since the beginning of this project.” Proven technology and tried-and-tested installation methods The Baltic Eagle offshore wind farm will generate its green electricity from a total of 50 Vestas V174-9.5MW wind turbines, each with an output of 9.525 megawatts (MW). The wind turbines have a rotor diameter of 174 meters and a hub height of 107 meters. The optimized rotor blades are each 85 meters long and have been designed to be aerodynamically efficient and to minimize loads. The finished turbines reach a total height of 194 meters. Fred. Olsen Windcarrier's jack-up vessel Blue Tern is particularly suitable for the challenging terrain in the Baltic Sea thanks to its long legs. With its 800-ton main crane and a variable deck load capacity of 8,750 tons, it transports the towers, nacelles and rotor blades to the offshore construction site and erects them on the transition pieces. Fred. Olsen Windcarrier already gained experience in the Baltic Sea during the construction of the Iberdrola offshore wind farm Wikinger. Iberdrola’s Baltic Hub The Baltic Eagle offshore wind farm is an important part of Iberdrola's “Baltic Hub“ in the German Baltic Sea. It is located north-east of the island of Rügen off the coast of Pomerania and is planned and operated from the port of Mukran in Sassnitz. Scheduled to be operational by the end of 2024, the 476MW offshore wind farm will supply around 475,000 households with renewable energy while reducing carbon dioxide emissions by about 800,000 tons per year. Baltic Eagle is the second of three major projects in Germany, along with the Wikinger (350 MW, in operation) and Windanker (315 MW, entering execution phase) wind farms. Collectively, these offshore wind farms form Iberdrola's so-called “Baltic Hub”, which will have a total capacity of more than 1.1 GW in 2026 and trigger an investment sum of about 3.7 billion euros. The Baltic Eagle offshore wind farm is an important component in the integrated growth strategy that Iberdrola is pursuing in its German core market. In the area of sustainable energy solutions, the company aims to cooperate with key players in the German economy to support them in achieving their climate targets with market-based solutions. Iberdrola’s partnership with Masdar Masdar and Iberdrola signed a strategic agreement in July 2023 to co-invest in Baltic Eagle. At COP28, the two companies announced a further EUR15 billion strategic partnership agreement to evaluate the joint development of offshore wind and green hydrogen projects in key markets including Germany, the UK and the US. READ MORE
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08/05/2024Iberdrola extends its commitment to equality to 800,000 female athletes Iberdrola has reinforced its commitment to women's equality through sport with the incorporation of three new National Federations to the total of 32 it has been supporting to date, thus reaching the figure of 35 and promoting 800,000 female athletes. The company's commitment to women's sport as a driving force for equality dates back to 2016 and, since then, it has been the first company to make a global commitment to women's participation in this field and its main promoter. With the incorporation of golf, paddle tennis and cycling federations, the number of women supported by the company has increased by 200,000 – reaching 800,000 sportswomen and 160 women's competitions, although the indirect boost is much greater, given that it also benefits many more women and girls who play sport at a grassroots level. As of today, Iberdrola supports the National Federations of Athletics, Badminton, Handball, Boxing, Ice Sports, Fencing, Football, Gymnastics, Hockey, Karate, Canoeing, Rugby, Surfing, Table Tennis, Triathlon and Volleyball, Underwater Activities, Bowling, Winter Sports, Weightlifting, Judo, Olympic Wrestling, Mountaineering and Climbing, Swimming, Skating, Ball, Rowing, Squash, Taekwondo, Tennis, Archery, Sailing, Golf, Paddle Tennis and Cycling. Iberdrola Executive Chairman Ignacio Galán participated in the event of the three new Federations incorporation, which was hosted by Mónica Carrillo and attended by around 200 sportswomen representing all 35 Federations. The event took place the National Golf Centre facilities, which hosted a mini padle tennis court, a small practice area for golf and another area with bicycles, where sportswomen representing each of the three new sports challenged each other to practice their respective sports in a competition in which they were all winners because, as the motto of the event stated: "Promoting women's sport we all win". They are high-level sportswomen, including Ana Peláez, Iberdrola Ambassador, ranked 11th in the World Amateur Golf Ranking; Esmeralda Racionero, member of the national junior cycling team; and María Silvela, world champion and 13 times Spanish paddle tennis champion. For Iberdrola, this drive is an excellent tool for building equality in our society because it transcends barriers of sex, race or nationality; it helps to break down gender stereotypes, which generate discrimination; it promotes well-being and self-esteem; and it creates role models for young people. For this reason, Iberdrola has a large team of female ambassadors , elite sportswomen who champion equality and embody the values of solidarity, effort and teamwork. Among the sportswomen attendees were Belén Tomil (athlete), Lydia Valentín (weightlifting), Eva Moral (paratriathlete), Janire González (surfer), Laura Fuertes (boxer), Laura Martínez (judo player), Desiree Vila (triathlete), María Laborda (climber), María Vicente (athlete), Nuria Rodriguez (figure skater), Ona Carbonell (synchronised swimmer) and Ana Peláez (golfer). So far, Iberdrola's role as the main promoter of women's sport in Spain resulted in a 42% increase in the number of women's licences in the Federations it supports. For Iberdrola, the commitment to equality is not limited to elite athletes and federated women. For this reason, and with the aim of recognising and making visible those who promote women’s empowerment through sport from a grassroots level, the company holds the Iberdrola Supera awards every year, with a total of €300,000 euros to be distributed among its 6 categories. READ MORE
