It represents an opportunity to develop the country's value chain and position Spanish industry as an international benchmark
Iberdrola already has alliances with 150 companies to carry out transformative projects in renewables, storage and hydrogen to help achieve the objectives of the new PERTE
- These projects are distributed throughout Spain and will involve an investment of close to 15,000 million euros
Iberdrola, together with more than 150 small and medium-sized companies, has a portfolio of 90 innovative renewable, storage and green hydrogen projects along the lines set out in the Strategic Project for Economic Recovery and Transformation (PERTE) for Renewable Energies, Renewable Hydrogen and Storage (ERHA) presented today by the Government.
The projects could involve an investment of nearly 15 billion euros in floating offshore wind, floating photovoltaics, storage and green hydrogen for fertiliser production, industrial processes, heavy transport and large-scale manufacturing of electrolysers.
The initiatives represent an opportunity to develop the country's value chain and position Spanish industry as an international benchmark. This activity would involve almost all the autonomous communities, thus contributing to the structuring of the territory and the creation of industrial and innovation opportunities in a growing market with a high export component. The project would also contribute to the fight against climate change, preventing the emission of thousands of tonnes of CO2/year into the atmosphere.
They will also have a positive impact on the competitiveness of the Spanish industrial fabric and will enable short-term green recovery in addition to the transformation of the country, in the medium and long term, orienting it towards sectors of the future. The developments will contribute to the green and digital transition binomial established by the European Union and are aligned with the Spanish Government's Recovery, Transformation and Resilience Plan.
These projects would enhance the capabilities of the industrial fabric in our country. For years, the company has collaborated with Spanish suppliers such as Navantia, Windar, Ingeteam and Haizea Wind for the construction of critical components for its Wikinger (Germany) and East Anglia ONE (UK) offshore wind farms and those under development, such as Saint Brieuc (France).
For example, this activity has fostered a business base, which has made Spain the fifth country in the world in terms of the number of factories in the offshore wind supply chain.
Towards global wind leadership, offshore too
A large part of the projects would be focused on offshore wind, where Iberdrola is an international benchmark, as it has one of the largest offshore wind portfolios in the market, close to 30,000 0GW.
In Europe, Iberdrola is at the forefront of the offshore wind market with 1,300 MW of operational capacity in Germany (Wikinger) and the UK (East Anglia ONE and West of Duddon Sands) and almost 1,000 MW under construction in Germany (Baltic Eagle) and France (St. Brieuc). In addition, it manages a large portfolio of projects in the UK, France and Germany, as well as in new growth platforms such as Ireland, Sweden and Poland.
The company is also a leader and pioneer in the development of the US offshore wind market. In addition to Vineyard Wind 1 (800 MW), the company has 2,000 MW of capacity corresponding to the Park City Wind project, which has a power sales contract in Connecticut, and Commonwealth Wind, submitted to the auction organised by the state of Massachusetts.
Avangrid also owns the Kitty Hawk development area (2,500 MW) in North Carolina, has already started the BOEM permitting process for the Kitty Hawk North project (800 MW), the first project to be developed in this area, and manages other farms at an earlier stage of development.
By 2025, Iberdrola expects to reach 60,000 MW of installed renewable capacity worldwide, of which 4 GW will be offshore wind.
Alliances and projects in the main markets where it operates
Iberdrola is already a benchmark in green hydrogen as an electrification alternative for certain industrial processes and heavy transport.
The company is currently building the largest green hydrogen plant in Europe in Puertollano (Ciudad Real), which will enable the decarbonisation of Fertiberia's fertiliser manufacturing process to begin; and it has partnered with the US company Cummins, which will locate one of the largest electrolyser factories in the world in Castilla-La Mancha.
In Spain, the company has signed alliances for the development of green hydrogen projects, in addition to other initiatives promoted in the main markets where it operates, such as the United Kingdom, Brazil and the United States.