Noticias
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23/10/2024Newsweek recognises Iberdrola as one of the most sustainable companies in the US Iberdrola, through its US subsidiary Avangrid , has been included on Newsweek's list of America's Greenest Companies, recognising Avangrid's commitment to the energy transition . Newsweek recognises the top 500 US companies for progress in managing their sustainability footprint. It evaluates and scores more than 25 metrics in four categories: GHG emissions, water usage, waste generation, and sustainability data disclosure and commitments. You can read the full story in the Avangrid Newsroom . READ MORE
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23/10/2024 - 08:17 UTC +02:00Highest investment period boosts Iberdrola's results to record levels Commenting on the results, Ignacio Galán, Executive Chairman of Iberdrola, said: “2024 has been a very good year so far for Iberdrola. Strong operational performance has benefited our results, especially in the US and the UK, thanks to record investments. Our continued major investment drive is delivering new renewables projects and regulated assets, and the contribution to results of our increased offshore wind capacity underlines the reason why investment in this technology was a key pillar in our strategic plan. “This year we have been delivering against the objectives of our plan to 2026, as well as actively setting the course to strengthen the resilience of the group in the longer term. We are seizing new opportunities in the UK and US and building our pipeline in other strong markets around the world. With the Avangrid and Electricity North West acquisitions progressing as planned, and major new organic investment opportunities in networks and renewables, we will continue with our disciplined growth strategy from 2027 to 2030 and beyond.” READ MORE
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22/10/2024 - 17:39 UTC +02:00Iberdrola closes the purchase of the British distributor ENW Iberdrola has today closed the acquisition of 88% of Electricity North West (ENW) in the UK. The deal values 100% of the company, including debt, at approximately €5 billion. This acquisition is part of Iberdrola's strategy to strengthen its network business in countries with strong ratings, such as the UK's AA credit rating. With this acquisition, the UK becomes the company's primary market in terms of network asset base value (€14 billion), followed by the US (€13.3 billion ), as at the end of the first half of 2024. Geographically, ENW is located in a prime area for Iberdrola, between the two existing ScottishPower networks license areas, in central and southern Scotland and Merseyside and North Wales. ENW distributes electricity to almost five million people in the North West of England, in locations such as Manchester and the Lake District and has approximately 60,000 km of electricity distribution networks. The acquisition accelerates Iberdrola's commitment to grow its electricity networks business, with the company now becoming the second largest electricity network operator in the UK. Iberdrola will now distribute electricity to around 12 million people in the UK, across a network which will span more than 170,000 kilometers. In addition, Iberdrola will employ more than 8,500 people in the country. Iberdrola and a consortium of investors from Japan, led by Kansai, which will retain 12% of ENW's capital, have signed a shareholders' agreement to collaborate on a long-term basis. The transaction is subject to review by the UK Competition and Markets Authority (CMA), according to the applicable regulations to this type of transactions. A story of growth in the UK Since the merger with ScottishPower in 2007, the UK has been a major investment destination for Iberdrola. Last week the company's executive chairman, Ignacio Galán, announced Iberdrola’s plans to double its investment in the UK, with £24 billion earmarked for networks and renewables between 2024 to 2028. ScottishPower is the only 100% green integrated utility in the UK. Two-thirds of the investment planned by the company will be directed to the distribution and transmission networks. Transmission investments are set to increase under the regulatory framework from 2026 to 2031, known as RIIO-T3, which will be approved next year. The investments will include, for example, the new Eastern Green Link 1 subsea interconnection. The merger between ScottishPower and Iberdrola in 2007 was part of the company’s long-term strategy to become a world leader in the global energy market. Since then, the company has had high growth and is the only vertically integrated energy company in the country. ScottishPower is one of the largest investors in renewables in the country, owning and operating the transmission grid and distribution networks in south-central Scotland as well as the distribution network in Merseyside, North Wales and Cheshire. The company has more than 111,400 km of installed power lines in the country and 40 onshore and 2 offshore wind farms in operation, with a renewable capacity of 3,000 MW, capable of supplying the equivalent of more than two million homes. This allows it to generate 100% of its energy free of emissions. As part of its growth plans , Iberdrola is currently constructing the 1,400 MW East Anglia 3 offshore wind farm. The East Anglia 2 (960 MW) project recently secured a CfD contract and will see investment of around £4 billion (around €4.8 billion euros). This project will provide enough green energy to power the equivalent of close to one million homes. The company also continues to invest in new onshore wind, solar PV and battery projects. READ MORE
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22/10/2024 - 16:19 UTC +02:00Iberdrola presents Smart Grids Academy, an international training platform on smart grids Iberdrola, together with the Provincial Council of Bizkaia and the GAIA Cluster, presented the Smart Grids Academy (SGA) project at the Iberdrola Tower in Bilbao, the first academy with an international vocation to train professionals in new digital skills, which aims to develop the specific talent required by the energy transition and the future of smart grids . Smart Grids Academy responds to the urgent and important need for specialised professional profiles to address the digital and energy transformation because, as highlighted today, "without smart grids there is no energy transition, and without trained people, there will be no smart grids". Smart grids use digital technology to distribute electrical energy and are a key element in addressing the digital transition towards the decarbonisation of the economy through electrification. The need for specialised profiles is a priority for the Global Smart Grids Innovation Hub , an initiative launched in 2021 by the Provincial Council of Bizkaia and Iberdrola, to anticipate the revolution in the sector and make Bizkaia a benchmark in innovation in smart grids and a territory that generates local talent with the capacity to attract international talent. The centre acts as a driving force for innovation, combining Iberdrola's technological capacity with that of the more than 100 collaborating entities and companies. You can read the full story at Iberdrola España's Communications Room . READ MORE
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21/10/2024EIB and Iberdrola sign 120 million loan for energy innovation projects in Spain The European Investment Bank (EIB) today signed a EUR 120 million loan with Iberdrola to finance the development of energy technology research and innovation projects aimed at contributing to and accelerating the electrification and decarbonisation of the economy. The total investment associated with the project will be €250 million. The EIB funding will be used to boost innovation in renewable energy technology projects such as solar photovoltaic, hydro and wind power, as well as hybridisation and agrovoltaic projects, among others. Technologies for the decarbonisation of demand, such as green hydrogen or heat pumps, will also be studied and developed. New solutions will also be investigated to facilitate the integration and management of renewables, boost storage and optimise energy efficiency along the entire value chain. In the area of grids, investment will go to digitisation, advanced data management and power electronics projects to promote smart grids. It also includes initiatives aimed at increasing the cybersecurity and resilience of these networks. In the commercial area, projects will contribute to the development of smart and customised solutions to promote self-consumption and electric mobility. These initiatives are part of the company's 2024-2026 strategic plan to accelerate its decarbonisation and contribute to the electrification and digitalisation of the global economy. The financing agreement contributes to economic, social and territorial cohesion, as it is estimated that around 27% of the total associated investment is expected to go to regions whose per capita income is below the EU average. EIB commitment to energy security and innovation In 2023, the EIB Group provided more than EUR 21bn in financing for energy security in Europe. In Spain, this objective amounted to EUR 4.513 billion in the same year, earmarked for financing renewable energy, energy efficiency, electricity grids and storage systems projects, among others. These investments are helping Europe to accelerate the transition towards the use of sustainable energy and reduce its dependence on fossil fuel imports. You can find out more about the EIB's support for the energy sector . Iberdrola's commitment to energy innovation Iberdrola is promoting an energy model based on electrification through the incorporation of new clean and efficient technological solutions. The company intends to double its investment in this area and exceed 4,000 million euros of accumulated investment in Innovation, Development and (R&D&I) activities by 2030. These resources are intended to be used primarily for projects related to renewable energy, smart grids, digital transformation, green hydrogen and the development of customer solutions. Aiming to accelerate decarbonisation to address the climate crisis, improve energy security, competitiveness and sustainable job creation across the value chain. The company has been recognised by the European Commission as the world's leading private electric utility in terms of R&D investment in its latest report 'The 2023 Industrial R&D Investment Scoreboard'. General information About the EIB The European Investment Bank is the long-term financing institution of the European Union, whose shareholders are its Member States. It finances sound investment that contributes to the EU's public 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 European Investment Bank Group (EIB Group), comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), reported total financing signed in Spain in 2023 of EUR 11.4bn, of which approximately EUR 6.8bn went to climate action and environmental sustainability projects. In terms of total activity, the EIB Group signed EUR 88bn in new financing in 2023. About 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 oriented towards the fight against climate change and the creation of wealth and employment in the communities in which it operates. At the end of the first half of 2024, the group already had green or sustainability-linked financing of more than 56 billion euros, including more than 21.3 billion euros in green bonds. READ MORE
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21/10/2024 - 15:00 UTC +02:00Iberdrola illuminates Oaxaca Cathedral with cutting-edge technology Iberdrola, through its company Iberdrola México , has completed the renovations of the lighting of Oaxaca Cathedral, a jewel of Oaxaca's baroque style, the first of the historic buildings illuminated by Iberdrola Mexico as part of the Oaxaca Brilla programme run in collaboration with the government of that state in southwestern Mexico. The Oaxaca Brilla programme envisages the renovation of the lighting of 10 of the state's cultural heritage buildings over the next five years, with a significant investment by Iberdrola Mexico. You can read the full story in Iberdrola Mexico's Communications Room. READ MORE
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17/10/2024 - 10:00 UTC +02:00Start-up Plexigrid wins Iberdrola's challenge to optimise grid capacity through data and AI Iberdrola's global innovation and smart grid centre in Bilbao continues to advance proposals to maximise the potential of smart grids to electrify the economy and create jobs and to contribute to the development of the next generation of these smart grids . The Iberdrola group’s distributor, i-DE , proposed a technological challenge of innovation in smart grids through PERSEO , a platform that aims to facilitate access to the technologies and businesses of the future while fostering a global ecosystem of start-ups with a focus on sustainability. The winner was the Asturian start-up Plexigrid, based in Gijón, Spain and Stockholm, Sweden. In collaboration with the BAT B Accelerator Tower –Bizkaia International Entrepreneurship Centre–, a search and selection process was carried out for the best solutions globally. It culminated with the B Acceleration Week, the largest innovation and entrepreneurship event held to date in northern Spain. During the event, i-DE's technical team was able to learn first-hand about 6 of the 30 solutions presented by the different companies participating in the challenge, as well as to exchange knowledge and experiences with other innovation companies in the region. As the chosen start-up, Plexigrid will have the opportunity to deploy a pilot test within the challenge with i-DE, will become part of the BAT Community, and will be invited to participate in a personalised acceleration programme to boost its growth, within the framework of collaboration between Iberdrola and BAT. The challenge launched through PERSEO consisted of planning new scenarios in the electricity grid , making the most of the available capacity of the digitised grid, using data and AI techniques. Digital solutions were sought to model new demand scenarios (consumption and generation) in the grid with self-consumption, storage and access flexibility to forecast its operational behaviour and then plan its investments, guaranteeing grid capacity, assuming reasonable demand for electricity distribution, with a five to ten year time horizon. Among others, these scenarios had to take into account the evolution and geolocation of: * Current electricity demand, generation and self-consumption * Electrical storage (domestic, industrial, utility, BESS, etc.) * New emerging demand (short term): electric mobility, heating and cooling, decarbonisation of current industrial processes, etc. * New demand in the medium and long term: digital electrification, new consumption and generation associated with technological developments and/or emerging business models (e.g. artificial intelligence, e-fuels, green hydrogen, etc.). GSGIH AND PERSEO Iberdrola Ventures The Global Smart Grids Innovation Hub (GSGIH) is a pole to attract talent and promote emerging technologies that will enable the energy transition, maximising the use of renewables, fully integrating energy storage systems and optimising access to new uses of electricity, such as mobility and air conditioning. Iberdrola and the Provincial Council of Bizkaia, which together with the energy company is promoting this public–private collaboration framework, have so far brought together the capacities of more than 100 industrial companies, universities and technology centres, which contribute their technological capacity, industrial character and research experience. Iberdrola's commitment to a sustainable energy model is part of its PERSEO programme to promote the development of start-ups and innovative industrial companies working in new areas of electrification. Since its creation in 2008, PERSEO has invested more than 200 million euros in businesses that develop innovative technologies, focusing on those that improve the energy sector’s sustainability through greater electrification and decarbonisation of the economy. Through Perseo Venture Builder, industrial initiatives are launched in energy transition to create new business models that contribute to electrification in sectors that are difficult to decarbonise. About the BAT B Accelerator Tower and the B Acceleration Week BAT B Accelerator Tower is the spearhead of a national project that aims to put Bizkaia on the international entrepreneurship map. The backing of major Basque institutions aims to make BAT B Accelerator Tower a unique centre in the world, capable of bringing together public tools at the service of entrepreneurship and innovation, together with the differential services and international network of PwC and collaborations with international partners such as Talent Garden and Impact Hub. Aiming to be the most important innovation hub in Southern Europe and the best connected, B Accelerator Tower is a point of concentration and traction for entrepreneurial talent and open innovation, where start-ups, corporates, investors and the administration work together. The B Acceleration Week, after its first edition, has positioned itself as the most important entrepreneurship and innovation event held to date in BAT B Accelerator Tower and one of the most important on the national scene. This meeting marked a milestone in the field of start-ups and innovation in the Basque Country. It has all been possible thanks to collaboration with strategic members of the BAT such as Iberdrola, as well as other international agents such as Pegasus Tech Ventures and Google, which have made it possible to generate a high-impact event for the regional ecosystem, in which + 500 participants from + 100 companies and + 30 nationalities were able to exchange knowledge and generate new opportunities for innovation and business. READ MORE
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17/10/2024 - 09:00 UTC +02:00Iberdrola, the only Spanish company to obtain the international Fair Tax certificate Iberdrola has been awarded the Fair Tax Mark, an accreditation for companies that pay taxes responsibly around the world. The Fair Tax Foundation is a non-profit organisation that promotes tax fairness and transparency in corporate tax practices. It seeks to encourage and recognise organisations that pay the right amount of corporate tax at the right time and in the right place. Some 250 different commercial companies currently hold this Fair Tax Mark accreditation, but none of them are Spanish. Jaime Boswell, Director of Accreditation at the Fair Tax Foundation, said, "It’s fantastic that Iberdrola is flying the flag for fair taxation as the first Fair Tax Mark accredited company in Spain. It’s leading the way for others to follow. Its tax transparency report is really comprehensive. It contains information on the group's taxes in several jurisdictions, including its public country-by-country reporting, as well as significant cash tax contributions. It is exactly the level of detail we are looking for when awarding the Fair Tax Mark". Contribution to the community where it works Iberdrola has established itself as one of the companies that contributes the most to taxation in the countries where it operates. Its commitment to public administrations resulted in a historic contribution of almost 9,300 million euros. A total of 9,281 million euros were last year, 24% more than in 2022, according to the group's fiscal transparency report. This figure is equivalent to more than one million euros per hour. Spain is the country in which the company contributes the most of all those in which it is present. It is now close to 3,500 million euros, which represents an increase of 35%. The positive impact on society of the business electricity company chaired by Ignacio Galán is reflected both in its commitment to a sustainable model, which promotes the economy and employment, and in its fiscal contribution. In the last five years, the contribution to the public coffers of the more than 25 countries in which the electricity company operates has exceeded 40,000 million euros. Iberdrola's historic contribution in 2023, considering only taxes affecting the income statement, was 44% of its profit before taxes and social security. The increase in Spain was mainly due to electricity taxes –like the 1.2% levy on sales and the tax for water used to produce power–. Apart from the significant increase in corporate income tax, other taxes practically doubled. In Spain, taxes and charges affecting the income statement, excluding corporate income tax, represent 123% of net operating expenses, a very striking figure compared to the same percentage in the rest of the world (22%). Iberdrola's total contribution by country is led by Spain (3,482 million euros), followed by Brazil (2,530 million euros), the United States (1,261 million euros), the United Kingdom (1,119 million euros) and Mexico (310 million euros). The rest of countries contributed 579 million euros. READ MORE
