The Iberdrola group is committed to a sustainable, safe and competitive business model which replaces polluting sources of energy with clean ones and intensifies the decarbonisation and electrification required worldwide.
Pioneering the energy transition through the decarbonization of the economy
The Iberdrola group is committed to a clean, reliable and smart business model that replaces polluting sources of energy with clean ones and intensifies the necessary decarbonisation and electrification of the world economy.
The fight against climate change is one of the biggest challenges humanity must face in the 21st century and we all need to be involved in the process of moving toward a decarbonised economy based on renewable energies.
The Iberdrola group has committed to championing this energy transition by investing €34 billion by 2022 in the electrification of the economy, innovation and technological advances and better consumer connectivity. In February 2019, €30 billion have already been implemented or are under construction. The company expects to increase its renewable capacity by 9,900 megawatts (MW) by the end of 2022, as compared to the end of 2017. Iberdrola will also reach a total of 90 gigawatts per hour (GWh) of storage capacity by 2022, an increase of 20 GWh from current levels.
The minimum renewable energy target of 32% established by the European Parliament and the Council in the Renewable Energy Directive for 2030 is attainable, but only if we see high levels of decarbonisation and electrification of the economy.
Main benefits of the decarbonisation and electrification of the economy.
As part of the journey toward a sustainable future, the group has taken on its own commitments with regard to decarbonisation: the company has set a target to reduce the intensity of its emissions by 50% by 2030 with respect to 2007 levels and become carbon neutral by 2050. Currently, Iberdrola's emissions levels are 32% below the average for European utility companies.
Iberdrola is leading the energy transition towards a sustainable model through its investments in energy from renewable sources, smart grids, large-scale energy storage and digital transformation in order to offer its customers the most advanced products and services.
Ignacio Galán, Chairman of Iberdrola
With this plan we are giving a major boost to the inevitable energy transition to a low-carbon model. Our investment effort is increasing by €2 billion and we will end 2022 with 40% more capacity
LEADERS IN RENEWABLE ENERGY
The commitment to an emission-free environment places high importance on further development of renewable energies. Mass deployment of these energies would certainly reduce emissions, but that's not all: it would also generate and sustain quality employment and increase the competitiveness of the industry.
Iberdrola is a global energy leader and the first producer of wind energy in Europe. At the end of Fiscal year 2018, Iberdrola had 47,448 MW (megawatts) of installed capacity, of which 68% used zero-emissions technology.
Between 2018 and 2022 the Renewables area will pursue sustainable growth mainly based on investments in onshore and offshore wind power and solar power in the group's key countries: the USA, the UK, Spain, Portugal, Brazil and Mexico. During this period a 13 billion euro investment in the Renewables business is planned as well as maintaining some of the lowest emissions levels in the sector.
LEADERS IN SMART GRIDS
The energy transition requires significant investments in the modernisation, digitisation and automation of networks to ensure an efficient, safe and reliable transition. New network equipment, software, IT applications and advanced communication systems will all need to be developed. The need for these technology solutions brings about investment in R&D, innovation and knowledge. It also contributes to the creation of an industrial framework which can also be exported, generating even more value.
The Iberdrola group is now a world leader in network efficiency and smart meter following its deployment of one of the world's most advanced smart grids in Spain, Brazil, the US and the UK.
Distribution networks in the Iberdrola group.
LARGE-SCALE ENERGY STORAGE SYSTEMS
The company is a leader in energy storage with a capacity of 4,400 MW installed using pump technology, the most efficient energy storage method currently available, as it does not release any polluting emissions into the atmosphere and performs much better than the best batteries on the market. By 2022, By 2022, Iberdrola expects to reach a total of 90 gigawatts per hour (GWh) of storage capacity, an increase of 20 GWh from 2018 levels.
Also, work has begun on two projects to install lithium-ion battery storage systems in Caravaca de la Cruz (Murcia, Spain) and in Oregon in the USA. Both will be operational in 2019.
AT THE FOREFRONT OF DIGITAL TRANSFORMATION
As part of this necessary energy transition process, Iberdrola has also committed to digitisation, setting aside nearly €5 billion in the run up to 2022 to implement innovative projects based on data analytics and Artificial Intelligence.
This strategy puts the customer at the forefront of every activity: networks are getting smarter and are able to adapt to new consumer needs and habits to achieve more efficiency and connectivity for customers. The digitalisation of the grid, i.e. having an infrastructure that carries electricity and data, facilitates the integration of distributed renewable energy, more active network management and the future mainstreaming of electric vehicles. Iberdrola will play a decisive role in the roll-out of the latter in Spain with the implementation of the 'Smart Mobility' Plan, which features the launch of the new Iberdrola Public Charge App for booking charging stations in Iberdrola's recharging network and the launch of the 'Smart Mobility Hogar' App, designed for controlling the charging of household equipment.
The transition toward a sustainable future will require a massive effort by all those involved, and the Iberdrola group will continue the path it started 20 years ago, a strategy which is fully aligned with Sustainable Development Goal 13 (Climate Action).