CLOSURE OF COAL PLANTS
Iberdrola completes the closure of its coal plants and moves towards green transformation
The company is putting an end to coal with the closure of the Lada (Asturias) and Velilla (Palencia) thermal power stations, culminating a process initiated in 2001 that has led to the closure of 17 coal and fuel oil thermal power stations around the world with a total production of more than 8,500 MW.
Iberdrola recognises that the fight against climate change is one of the main challenges facing the planet and, in order to minimise its negative impact, the global goal is to achieve a climate-neutral economy by 2050. The transition to such a model will involve structural changes with a strong impact on certain regions, areas and groups. In order to leave no one behind, this transition must be fair and inclusive.
In its commitment to energy transition and the green economy, Iberdrola promotes a fair and inclusive sustainable transition of shared value with society and aligned with the Paris objectives. Along this path, Iberdrola is part of the "Agreement for a just energy transition for thermal power plants in closure: employment, industry and territories", together with the Ministry for Ecological Transition, the Ministry of Labour and Social Economy, other companies that own coal-fired thermal power plants in Spain and trade union organisations, assuming the commitments established for compliance with the 2015 Paris agreement and the Strategic Energy and Climate Framework in its Just Transition Strategy. This strategy promotes ensuring that workers and territories take advantage of the opportunities of the transition and minimise its negative impacts through accompanying and reactivation measures.
GREEN TRANSFORMATION OF THE LADA AND VELILLA REGIONS
To avoid job losses due to the closure of the Lada and Velilla plants, Iberdrola has initiated several green transformation plans in these regions. These plans include investment in renewables, the creation of citizens' platforms, circular economy projects and stimulating businesses and local employment around green principles and innovation with support for local enterprise.
We promote the green transformation in Asturias.
Galvanising the local industrial fabric
The construction of these projects is contributing to stimulating the local and national industrial fabric, and to creating employment in the region, as practically all jobs in field and civil work are being done by local companies.
In Asturias, over the last 18 months the contracts assigned to local companies by Iberdrola have reached 300 million euros in value, and in Castilla y León the company now makes annual purchases for 150 million euros from over 700 companies in the community, allowing for the creation of 265 jobs a year.
Citizens' Innovation Platform
Iberdrola's green recovery plan for both areas also includes the launch of Citizens' Innovation Platforms to channel entrepreneurial initiatives, which will serve to accelerate collaboration processes between the public, public bodies and companies. The programme also includes the promotion of training and informational programmes to improve employability.
The first phase of the Citizens' Innovation Platform initiative has begun with the training of a dozen employees at the Lada headquarters in Asturias. This will consist of gathering information — by way of community listening dynamics — on the main challenges and opportunities within the region and, in this way, channelling the best entrepreneurial and R&D initiatives of local entrepreneurs and suppliers.
Another point is the promotion of the circular economy by installing plants for the recycling and reuse of ash, slag and plaster that have come from old thermal power stations, to turn them into new materials for the construction sector.
All of this is complemented by greater investment in sustainable mobility, with the roll-out of a charging infrastructure for electric vehicles, and the analysis of innovation projects related to new technologies, such as energy storage, green hydrogen production, etc.
. Get to know the Velilla project [PDF in Spanish]
. Get to know the Lada project [PDF in Spanish]
IBERDROLA, COMMITTED TO THE FIGHT AGAINST CLIMATE CHANGE
With these closures, the company is accelerating its firm commitment against climate change. This way, and in reflection of its commitment to the decarbonisation of the economy, energy stability and clean energy, Iberdrola group is a world leader in renewable energy and is 20 years ahead of the current energy transition.
All of these actions are aligned with the commitments acquired by Iberdrola after the incorporation of the Sustainable Development Goals into its corporate strategy and its support for the Paris Agreement (COP21) and to subsequent Climate Summits.
The company also materialises its commitment through green financing: Iberdrola has become in the international benchmark of green bonds, the perfect source for the long-term financing of projects that make a difference from the environmental point of view.