Noticias
-
04/11/2024 - 09:00 UTC +01:00Avangrid completes installation of 105,000 solar modules for its first PV plant in California Through its US subsidiary Avangrid Iberdrola has completed installation of solar modules at its Camino Solar project in California, the first of its kind in the Golden State. The company has installed approximately 105,000 solar modules over the last four months. Camino will have a capacity of 57 MWdc (44 MWac) and is expected to generate the same amount of energy consumed by approximately 14,000 US homes. Around 100 jobs were created during construction, almost all of them filled locally, and the project is expected to generate around 14.3 million euros ($15 million) in state and local taxes over its lifetime. Once completed, Camino will become Avangrid's tenth solar project and the first in California. You can read the full story at the Avangrid Newsroom . READ MORE
-
02/11/2024All of Iberdrola's teams coming together to get the power back on in eastern Spain after severe flooding in Valencia Iberdrola's distribution company in Spain, i-DE, has mobilised around 500 people from both the Valencian Community and other regions of the country since the start of the storm, including its own staff and contractors, to repair affected installations . The operators are moving from location to location to restore service according to the conditions of access and facilities. The generation business has also been working in a coordinated manner since the beginning of the storm to guarantee electricity supply and thus avoid further outages in specific areas, or a more generalised power outage. Iberdrola continues to be in permanent contact with the public administrations (at the state, regional and local levels) to report on the situation and its progress. Incident status can be found on the i-DE Outage Map . READ MORE
-
31/10/2024Iberdrola secures two areas for offshore wind development in the Gulf of Maine Iberdrola, through its US company Avangrid , has been awarded two lease sites for floating offshore wind development in the waters of the Gulf of Maine, in the auction held by the US Bureau of Ocean Energy Management (BOEM). The two lease areas have a potential of 3,000 MW to help meet the energy needs of the New England region and advance the US government's goal of 30,000 MW of offshore wind energy by 2030. You can read the full story in the Avangrid Newsroom . READ MORE
-
31/10/2024 - 09:00 UTC +01:00Iberdrola and Norges Bank Investment Management incorporate the first 50 MW of solar photovoltaic into their alliance Iberdrola and Norway's sovereign wealth fund, managed by Norges Bank Investment Management, has incorporated the first 50 MW (megawatts) of solar PV to their €2 billion renewable energy investment alliance.The Peñarrubia solar PV plant is located Murcia, with a total capacity of 50 MW. This new plant reinforces the strategic alliance of more than €2 billion of co-investment in Spain and Portugal. Including Peñarrubia, the operational capacity in the joint venture now reaches nearly 200MW. Other assets currently at an advanced stage of construction are expected to be added to the joint venture in the short term. Norges Bank Investment Management and Iberdrola are preferred partners, and have been working together since 2023 to accelerate decarbonisation in Iberia, an alliance that could be extended to additional markets in the future. Iberdrola has a majority stake of 51% in the assets. The total 2,500 MW renewables portfolio being delivered by the alliance will have the capacity to supply energy to more than 400,000 homes each year, avoiding the emission of 350,000 tons of CO2 per year. The Peñarrubia project, located between Yecla and Jumilla, already produces clean energy to supply more than 25,000 homes a year and contributes to avoiding the emission of 15,000 tons of CO2. The perfect partner to co-invest Norges Bank Investment Management, which manages Norway's sovereign wealth fund, has assets under management of around €1.4 trillion and stakes in more than 9,000 companies. It owns on average 1.4% of all listed companies in the world and 2.5% of all listed companies in Europe. As one of Iberdrola's main shareholders, Norges Bank Investment Management has retained a stake of 3% for more than seven years. This long-term relationship helped Norges Bank Investment Management take the decision to make its first direct investment in renewable assets in Spain with Iberdrola, the largest European electricity company by capitalisation. The strong alliance, between two preferred partners, could be extended in the future to include additional renewable energy opportunities in more countries. Partnerships for growth In recent months, Iberdrola has closed several long-term alliances to promote the decarbonisation of the economy: * Last week Iberdrola closed the purchase of the British company ENW to continue expanding in this region. * BP and Iberdrola have formed a 50/50 joint venture to develop a 25 MW green hydrogen project, the largest plant in Spain. The final investment decision was announced in September. * In January 2023, Iberdrola signed a 1,265 MW renewables alliance in Spain with Norges Bank Investment Management, which was extended last January and April to 2,500 MW. * In December, Iberdrola closed an agreement with Masdar to co-invest €15 billion in offshore wind and green hydrogen in Germany, the United Kingdom and the US, following the successful investment agreement announced in July to co-invest in the Baltic Eagle offshore wind farm. * In September 2023, Iberdrola partnered with GIC for the expansion of transmission networks in Brazil for 430 million euros. * The company has sold more than 8,400 MW of gas-fired combined cycle plants in Mexico for $6.2 billion. * Iberdrola and BP also signed a strategic alliance in March to deploy 11,700 fast charging points in Spain and Portugal, and launched their joint venture on 1 December * Iberdrola and MAPFRE have continued to advance their strategic alliance by incorporating 150 new MW through a joint venture, which already has 450 MW. * In addition, a few months ago Iberdrola signed an alliance with Energy Infrastructure Partners to co-invest in the Wikinger offshore wind farm and boost its offshore wind portfolio. READ MORE
-
30/10/2024 - 17:01 UTC +01:00Avangrid presents its Supplier of the Year 2024 awards in the USA Iberdrola, through its US company Avangrid , has presented its Avangrid Suppliers 2024 Awards at its headquarters in Connecticut, under the theme "Delivering the Future of Energy through Powerful Partnerships". The awards recognise suppliers who have made significant contributions to Avangrid, highlighting their essential role in generating jobs, wealth and the transition to more sustainable energy. Avangrid recognised six suppliers in the following categories: * Supplier of the Year: Mortenson * Health and Safety: Irby Utilities * Excellence in emergencies or storms: Northline Utilities * Diversity: TransAmerican Power Poles (TAPP) * Sustainability: Ferguson Electric * Innovation: ICF You can read the full story in the Avangrid Newsroom . READ MORE
-
29/10/2024 - 15:00 UTC +01:00Ignacio Galán, recognised as one of the "100 Latinos Most Committed to Climate Action" The Executive Chairman of Iberdrola, Ignacio Galán , was recognised for the third consecutive year as one of the "100 Latinos Most Committed to Climate Action". The ranking, compiled by the US-based environmental organisation Sachamama in collaboration with the EFE news agency, highlights outstanding public figures for their role in taking on the climate crisis and promoting sustainability . The organisation has highlighted Galán's commitment at the head of the Iberdrola Group: "Throughout his career he has led companies in various industrial and technological sectors, profoundly changing the profile of all of them based on his vision of the future and his ability to anticipate new trends. Since he arrived at Iberdrola, his focus on international expansion and his commitment to electrification as an essential factor in reducing emissions have led the company to invest more than €140 B in renewable energies, smart grids, energy storage, and new vectors such as green hydrogen. His strong commitment to environmental protection and social responsibility has made the company a benchmark in the main main sustainability indexes. The election of these climate leaders is the result of a nomination process carried out by more than 20 social and environmental organisations, including the Nature Conservancy, WWF, Sea Legacy and Amazon Watch. READ MORE
-
29/10/2024 - 09:15 UTC +01:00Energy transition is key to Europe’s competitiveness Energy transition , essential to Europe’s competitiveness, requires stable regulatory frameworks, strong investment on grids, and must harness the potential of digital transformation and Artificial Intelligence (AI). These were the main conclusions of several Iberdrola senior managers present at this year’s Enlit conference , held in Milan, Italy, between 22 and 24 October. Enlit is a high-level energy forum connecting industries aimed to advance decarbonisation and digitalisation in Europe’s energy system. In a panel about sustainability and competitiveness, Ana Lafuente, Networks Global Director, argued that the best way to promote Europe’s industrialization is electrification, which requires a significant network investment increase. Lafuente added that such investment is key to the stability and reliability of supply, enabling the integration of renewable energy and ensuring that electricity reaches all customers efficiently and safely. In fact, in March, 2024, Iberdrola announced investments of 41 billion euros over 2024-2026, with 21.5 billion euros allocated to smart grids , to drive economy’s electrification, in the face of new uses of energy demand. Álvaro Ryan, Regulation director at i-DE, explained that regulatory certainty is paramount to re-booting the energy transition, alongside the removal of barriers such as investment limits and excessive permitting, and the promotion of anticipatory investments. In a roundtable dedicated to regulation, Ryan said regulatory frameworks should also adapt to new types of investment, particularly in digital and innovation areas. Regarding Digitalisation and Smart Grids, Marta Solaz, Business Information Security Officer at i-DE, stressed the importance of providing excellent service to customers and meet Net Zero commitments. However, risks should not be underplayed, namely cyber threats. A complex and more digitalized network increases the attack surface. Utilities must prioritize securing their processes, including supply chain (a potential backdoor for cyberattacks) by using control mechanisms that will reduce risk and protect their critical infrastructure and the service delivered to their customers. Enlit’s next conference will be held in Bilbao, Spain, hosted by Iberdrola. READ MORE
-
24/10/2024Iberdrola closes its largest issue of green bonds in sterling for 15 years with strong support from investors Iberdrola continues to diversify its sources of financing. The company, chaired by Ignacio Galán, has issued 12-year green bonds for 500 million pounds (600 million euros). This is Iberdrola’s largest issue in sterling since 2009. The company last issued a bond in Sterling in 2019, through its subsidiary Scottish Power Transmission. In addition, it is its first green bond Iberdrola has issued in sterling. Iberdrola becomes the only European utility able to access EUR, GBP and CHF in 2024. Demand exceeded 2.1 billion pounds (2.5 billion euros), and this has allowed the spread over the reference interest rate to be reduced to 95 basis points (from the initial 125 basis points). This is the largest reduction recorded in this market by a recurring issuer this year. The coupon has been set at 5.25%, after attracting the interest of more than 140 investors (the largest number for a corporate issuer in the sterling market this year), especially those committed to ESG, thanks to the green nature of the transaction, which will finance future investments in the United Kingdom in the renewables business. Barclays, HSBC, Goldman Sachs and NatWest all participated in the issue. Iberdrola is the only Spanish corporation to access the GBP market in 2024. This is the sixth public transaction by Iberdrola in the market so far in 2024. The first was the hybrid bond of 700 million euros issued in January; the second, in the Swiss market for 335 million francs at the end of June; the third, the senior bond for 750 million euros issued in July; the fourth was carried out in August, when Iberdrola placed 525 million dollars (490 million euros) through the US subsidiary; and the fifth took place on September 23, when it sold 2.15 billion euros in the largest issue of senior debt in its history. The rate achieved is equivalent to that which would have been obtained in the Euromarket, with additional value of diversification of currency. The cost obtained is equivalent to the result that would have been obtained in the Euromarket, with the beneficial diversification effect of having achieved it in an alternative market. With this operation, Iberdrola becomes the only Spanish corporate issuer to access the sterling market in 2024, as well as the only European utility to have accessed the euro, Swiss franc and pound market in 2024. International confidence Market confidence in Iberdrola is constant. In addition to debt issues, last Monday the utility signed a 120 million loan with the European Investment Bank (EIB) for the development of energy innovation projects. It has also extended its partnership with the World Bank with a 300 million green loan for renewable projects in emerging countries. In addition, it has signed a EUR 500 million syndicated green loan with Cesce coverage together with ICO, Sabadell and HSBC, and in the first quarter of 2024 it signed another EUR 700 million green loan with the European Investment Bank for the expansion of electricity grids in Spain. At the end of December 2023, the company signed its largest credit line in history for 5.3 billion euros 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. This financial strategy complements and strengthens the historic investment plan launched by the company in March 2024. This roadmap, the implementation of which is a year ahead of schedule, aims to drive the electrification of the economy, with a strong boost to electricity grids and renewables. READ MORE
