News Back

09/02/2024

Iberdrola exceeds 42,000 MW renewables and consolidates its position as one of the cleanest companies in the world

  • In the last 12 months, the company has added 3,250 new renewable MW, that is 8% more than the 2022 capacity.
  • Thanks to its renewable production of almost 80,000 million kWh – 6.3% more than the previous year – the company avoids the emission of nearly 14 million tonnes of CO2 into the atmosphere.

Iberdrola continues to make progress in its fight for decarbonisation, as the only way to have a more sustainable planet. For this reason, the company has closed 2023 with a renewable capacity that exceeds 42,000 MW – precisely 42,175 MW – after adding some 3,250 new MW in the last 12 months, as reported by the company to the National Securities Market Commission (CNMV). Thus, it will continue to promote self-sufficiency, electrification and, consequently, greater energy and economic efficiency for all consumers.

Thanks to its renewable production, which is close to 80 billion kWh – 6.3% more than the previous year – the company saves nearly 14 million tonnes of CO2 from being released into the atmosphere. That is the emissions of 1 million cars driving 100,000 km each. 

Renewable production increased by 10%, excluding Brazil, which has been affected by the hydroelectric situation. In Spain, renewable production grew by 24% in the year. Hydroelectric reserves increased by 13% to 6,298 GWh. 

Given the company's commitment to renewable energies, the Group generates 100% emission-free energy in countries such as the United Kingdom, Brazil, France, Italy, Germany, Poland, Portugal, Greece, Romania and Bulgaria. Emission-free production reaches 87% in Spain. 

Leading the way in clean energy

Iberdrola has strengthened its global leadership in wind energy after reaching 22,676 MW installed at the end of the year, 6% more than in 2022. The company has 20,883 MW in onshore wind power, after adding 655 new MW.

Thanks to an investment of close to €6 billion, Iberdrola has connected to the grid a new offshore wind farm in France (Saint-Brieuc) – the first large-scale wind farm in Brittany. This year, the company will start up another off the coast of Massachusetts (Vineyard Wind), which will become the first offshore wind farm in the United States. 

Growth in offshore wind is offsetting the lower onshore wind production in countries such as the UK, where, after growing by 13% in the year, offshore wind now accounts for 50% of total production. 

Iberdrola Energía Internacional's focus on offshore wind power in Germany and France led to a 28% increase in production in the quarter, accounting for 10% of the Group's total renewable production in the period.  

In addition, the company continues to increase its hydroelectric storage capacity: 160 MW have been added, corresponding to the last dam of the Alto Támega complex (Portugal), which constitutes the company's largest gigabattery. Thanks to this, Iberdrola now has 100 million kWh of storage – equivalent to supplying 24 million homes for around 12 hours – enabling an increasing flow of clean energy, promoting greater electrification and continuing to provide the best service to its customers 24 hours a day, 365 days a year.

Iberdrola has continued to offer a quality service to the 100 million people it supplies with energy around the world.