News
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29/12/2017Iberdrola’s Wikinger offshore wind farm connected to the grid in Germany Iberdrola has connected its Wikinger offshore wind farm to the German power grid. The facility was built over the last 18 months in the Baltic Sea. By reaching this milestone, Wikinger adds 350 megawatts (MW) capacity to the system and will supply renewable energy to 350,000 homes, representing more than 20% of the power used by the state of Mecklenburg-West Pomerania, in whose waters the project is located. Iberdrola has met the demanding time frame set to build Wikinger thanks to the company’s extraordinary multidisciplinary and multinational team, fully engaged with the project, and the collaboration of all its suppliers and contractors. In the process, it overcame all kinds of technology challenges and complications caused by the Baltic Sea's extreme weather conditions during autumn and winter. Wikinger, Iberdrola's first solo offshore project, had a particularly complex construction phase. In its major stages: * 280 piles were driven into the sea bed to hold the foundations * The offshore substation jacket was installed * The Andalucía offshore substation was installed and commissioned * The underwater cables connecting with Lubmin onshore substation were installed and commissioned in coordination with 50Hertz * More than 80 kilometres (50 miles) of underwater array cables were run and commissioned * The 70 jackets and wind turbines were installed and commissioned Iberdrola has an operations, control, and maintenance centre in the port of Sassnitz. A flagship project for Iberdrola Located off the north-east coast of the German island of Rügen, Wikinger exemplifies key Iberdrola strategy goals: * Major investment push in renewable energies * Commitment to emissions reduction * Technological innovation * International growth * Opening new businesses and markets to its suppliers * Significant pull effect: over 2,000 construction and manufacturing jobs were created at the port of Mukran and the plants where the equipment was fabricated, in Germany, Denmark and Spain. With an investment of nearly €1.4 billion, Wikinger will prevent almost 600,000 tonnes of CO2 from being released into the atmosphere each year. To build the project, 280 piles delivered by Windar were driven into the sea bed, each one measuring 131-foot long and eight-foot diameter and weighing 150 tonnes. Seventy 620-tonne foundations were manufactured by Bladt in Lindo (Denmark) and by Navantia at Fene shipyard (Spain). The AD-5-135 turbines, with 5 MW unit capacity, were fabricated by Adwen at its plants in Bremerhaven and Stade (Germany). They are the largest wind turbines installed by the company thus far, comprising a 222-tonne nacelle, a rotor that is 135 m (442 feet) in diameter with 77.5 m-long (254 feet) blades, and a 75 m-high (246 feet) tower. Also, one of the key infrastructures at Wikinger is the offshore substation, named Andalusia, which will be used jointly by Iberdrola and 50Hertz, one of the German system operators. It was manufactured by Navantia at its Puerto Real (Spain) facilities, weighs 8,500 tonnes – more that the Eiffel tower and the Statue of Liberty combined – and it’s the wind farm’s energy core. Commitment to offshore wind power Offshore wind power, a business in which the company is investing heavily, is one of the key drivers of Iberdrola’s growth, mainly in the United Kingdom, Germany, and France. The group already has an operational farm in the Irish Sea called West of Duddon Sands (WoDS) – jointly owned with Orsted – which was commissioned in 2014. The 389-MW facility generates enough electricity to supply approximately 300,000 British homes. Total project investment exceeded £1.6 billion. Iberdrola is developing what will be one of the largest offshore wind farms in the world when it begins operations in 2020: the 714-MW East Anglia One (EAO) in British waters in the North Sea. The company has already awarded 90% of the supply contracts. The wind farm will require an investment of £2.5 billion and will produce enough clean energy to supply more than 500,000 English homes. The size of EAO will be unprecedented in the renewable energy industry: covering an area of over 298 km2 (185 square miles) or the size of 30,000 football pitches; the export cable will be approximately 85 kilometres (53 miles) long and the blades of the wind turbines around 75 metres (246 metres) long. Each wind turbine foundation will weigh around 747 tonnes, or six aircraft. Iberdrola is also developing the Saint-Brieuc project, 20 kilometres (12 miles) off the coast of Brittany in northern France, about 100 km (62 miles) from the city of Rennes. The offshore wind farm will comprise sixty-two 8-MW capacity Siemens-Gamesa turbines. All of these investments underscore Iberdrola’s commitment to the development of renewable energy, essential for the transition towards carbon-free energy and the fight against climate change. Iberdrola’s stock of renewable power at 30 September 2017 amounts to nearly 29,000 MW and two thirds of the Group's total generating capacity is entirely emissions free. READ MORE
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20/12/2017Iberdrola, awarded 295 megawatts of wind power capacity in Brazil Iberdrola, through its subsidiary Neoenergia, was awarded 295 megawatts (MW) at the last wind power tender held by Brazil’s National Electric Energy Agency (Aneel). This is a major first step for Iberdrola in Brazil, after the consolidation earlier this summer of all its businesses under the new Neoenergia, in line with the growth plans set by the company. Neoenergia will build nine wind farms in the Santa Luzia area, in the state of Paraíba, which will become operational in January 2022. Thanks to these new facilities, Neoenergia’s wind power capacity in operation and under construction will now exceed 800 MW. Thus, Brazil becomes the strongest Latin American country in wind power for Iberdrola Group and the State of Paraiba, one of the areas with the best wind resource, a region where Iberdrola operates the 90-MW Paraiba wind farm complex distributed in three wind farms: Canoas, Lagoa I and II, each with 30 MW capacity. Neoenergia, a giant in Latin America With the integration of Elektro in Neoenergia, Iberdrola has brought about the creation of the largest electricity company in Brazil and the birth of an energy leader in Latin America. Committed to Brazil’s energy, economic and social development, and the well-being of Brazilian people, Neoenergia is present in 13 states in the businesses of electricity generation, transmission, distribution and retail, and has around 13.5 million supply points, serviced by its four distribution companies: Coelba, Celpe, Cosern and Elektro. Total concession area covers nearly 840,000 km2, serving a population of more than 34 million people. Neoenergía is a socially responsible company, fully engaged with the communities where it is present, placing people at the heart of its activity and creating value for its customers, shareholders, suppliers, partners, and for society at large. Coelba Companhia de Eletricidade do Estado da Bahia (Coelba) is Brazil’s third-largest electricity distribution company by number of customers and the sixth largest by volume of energy supplied, being the largest in the North/North-East region. Present in 415 of the 417 Bahian municipalities, Coelba has a concession area of 563,000 km2 and 5.8 million customers (providing power services to more than 15 million people). Celpe Companhia Energética de Pernambuco (Celpe) brings power to 184 municipalities in Pernambuco, the district of Fernando de Noronha, and the city of Pedras de Fogo, in Paraíba. Its concession area cuts across 98,500 km2 with 3.6 million customers (serving 9.4 million people). Cosern Companhia Energética do Rio Grande do Norte (Cosern) is the sixth largest electricity utility in the North-East of Brazil by number of customers, and the fifth by volume of energy supplied. Present in 167 municipalities, Cosern has a concession area of 53,500 km2 and 1.3 million customers (serving 3.5 million people). Elektro Recognised eight times as the best electricity utility in Brazil, and three consecutive times as the best company to work for in Latin America, Elektro is present in 223 municipalities in the State of Sao Paulo, and 5 in Mato Grosso do Sul. Its concession area covers 121,000 km2 with 2.5 million customers (serving 6 million people). After twenty years of uninterrupted presence in Brazil, Iberdrola confirms its commitment to Latin America’s leading economy, epitomised by its medium and long-term growth strategy in networks, regulated generation and renewable energy. READ MORE
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15/12/2017Ignacio Galán receives the Vocento Corporate Leadership Award Anticipation and innovation, exemplary conduct, commitment, a blend of generosity, austerity and teamwork. These are some of the qualities that Santiago Bergareche, Chairman of Vocento, sees in Ignacio Galán, who received the communication group’s Corporate Leadership Award. The award was given to our Chairman, as well as to Francisco González, Chairman of BBVA and Pablo Isla, Chairman of Inditex. Moreover, Luis de Guindos, Minister of the Economy, attended the event. After receiving the award, Galán emphasised the importance of "leading the human team", while insisting that "people" are the most important value, as he believes that companies need "a vision, strategy and leaders to manage it", but above all "values", such as "effort, honesty and social commitment". In addition, he mentioned that "there is still a lot to be done" to overcome certain challenges, such as digitisation. READ MORE
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12/12/2017HRM King Felipe gave audience to Iberdrola's scholarship recipients HRM King Felipe received some of the students and young researchers who received one of Iberdrola's almost 150 scholarships for the year 2017-20178 at Zarzuela Palace. Over 70 scholarship recipients of different nationalities attended the audience. During the event, Ignacio Galán, Chairman of Iberdrola, thanked the Crown for "its support to the development of people, training , research and achieving higher employment rates for young people", main pillars of the Iberdrola Scholarship Programme, to which the company is firmly committed. "At Iberdrola, we firmly believe that new generations are the engine that drives transformation and makes our world a better place”, added Galán in the presence of HRM King Felipe, highlighting the promotion of education on environmental, energy and sustainability related disciplines, "in which Iberdrola aspires to become a global reference, thanks to its promotion of the use of clean energies and the fight against climate change.” Moreover, Iberdrola's Chairman underlined that in this edition of the Programme "approximately 40% of all scholarship recipients are women and this figure grows every year". In addition, he mentioned that it allows young students to enrol in Master's degrees and participate in research projects in prestigious institutions, such as Carlos III, Comillas, the Basque Country University, or Cambridge, Strathclyde, Imperial College, Cornell, Rochester or Maine. Ignacio Galán also stated in the presence of HRM King Felipe all of Manuel Marín's "good deeds and his approachability", the President of Fundación Iberdrola who sadly passed away recently; he was the "father and driving force" behind Iberdrola's International Research Grant and Scholarship Programme, as well as behind the well-known "Erasmus Programme." During the official event held at Iberdrola's Madrid offices, in which the scholarships were given to the scholarship recipients by the Chairman of Iberdrola, Galán stated that "we want to create a new generation of professionals that can transform the current model into a sustainable energy model and successfully address the many challenges our sector and society is currently facing.” More than 750 scholarships awarded This edition of the International Research Grant and Scholarship Programme , to which the company will allocate 3.7 million euros, has been specially designed for Spanish, British, North American, Mexican and Brazilian students, i.e., the main countries in which the company operates. Ever since this programme was set up in 2010, the number of scholarships has increased by over 300%, i.e., there has been a four-fold increase in the number of grants given. To this end, Galán reiterated that Iberdrola has already given grants to over 750 young students of different nationalities and has asked this year's scholarship recipients to make the most out of this opportunity, in addition to reminding new generations that they play the leading roles in the transformation of the current model into a sustainable energy model. "You are here to think of new ideas and to develop and put into practice the projects that will be used to make our world a better place" he added. Iberdrola's International Research Grant and Scholarship Programme aims to improve training for the up and coming generations, primarily in the area of energy, with a special focus on developing renewables, protecting biodiversity and boosting the efficiency of the energy system, as well as the conservation of artistic and cultural heritage. This programme focuses on three areas. The first area is intended to help the students complete their master’s and postgraduate studies in areas related to energy and the environment at top-level centres in Spain, the UK and the US. The second area corresponds to the energy and environmental research grant plan, thanks to which young researchers can study subjects and degrees related to energy and environmental sustainability in Spanish universities or research centres. The third area is related to the grants awarded by Iberdrola for training and research in the restoration workshops of the Prado Museum, and in the Bilbao Fine Arts Museum. Therefore, specialists will be capable of completing their studies and education at the highest possible level with the participation in conservation and restoration programmes with the works of art of these prestigious institutions. In addition, we have the scholarships awarded by Iberdrola in collaboration with the Fulbright Commission, Fundación Carolina, the Spanish Paralympic Committee and Monterrey Technology Institute, among other institutions. Iberdrola, committed to the attainment of the SDGs With its International Research Grant and Scholarship Programme, Iberdrola is contributing to the attainment of the UN's Sustainable Development Goals (SDGs) set forth for 2030, which are part of its business strategy. With these scholarships, the company is focusing its efforts on the attainment of goal no. 13 (Climate Change) and goal no. 7 (Affordable and Clean Energy), while contributing directly to the creation of decent work and economic growth (goal no. 8), quality education (goal no. 4) and achievement of gender equality (goal no. 5). READ MORE
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11/12/2017Industrial issuers of €26 billion in green bonds pledge to double down on green financing On the occasion of the Paris 2017 Climate Finance Day, nine of Europe’s largest industrial emitters of green bonds (EDF, Enel, ENGIE, Iberdrola, Icade, Paprec, SNCF Réseau, SSE and TenneT) publicly announce their pledge to further develop one of the most dynamic segments of sustainable finance today, the green bond market. These companies have joined forces to voice their commitment to the green bond market as part of their strategy, financing policy and their active engagement in the reporting debate and dialogue with investors. The pledge also calls upon other industrial corporates to consider issuing green bonds. The signatories of today’s pledge commit to a long-term presence in the market, that green bonds will be at the heart of their (project) financing and business lines, and that they will implement stringent reporting procedures. This announcement, on the morning of Climate Finance Day and the day before the One Planet Summit in Paris, is a clear signal that green bonds are and will continue to play a significant role in finance and reaching the goals set at the Paris Agreement two years ago. Ten years after the first green bond issuance, this market, has turned into an exciting place in particular, thanks to companies committed to tackling climate change, to a growing awareness to environmental protection, low-carbon transport and buildings as well as energy efficiency. So far, all nine companies have issued a total of €26 billion in green bonds which accounts for over 10% of total outstanding green bonds. Together the signatories draw on their experience to call upon other industrial companies to consider issuing green bonds, which will further strengthen this market and enhance its interest from the growing share of climate-minded investors. Xavier Girre, Group Senior Executive Vice President, Group Finance, at EDF said: “Since EDF’s first issuance in 2013, Green Bonds have become central in financing the Group’s strong ambitions in renewables. Through this pledge, EDF reiterates its commitment as a frequent issuer aiming for the highest standards and an active corporate contributor to shaping sustainable finance solutions.” Alberto De Paoli, Chief Financial Officer at Enel said: “Enel’s position as one of the leaders of the energy transition is based in large part on the way in which sustainability and innovation form the basis of all aspects of the Group’s industrial plan, including its financial strategy. Green bonds are a powerful instrument for promoting and supporting the transition towards a low carbon economy, and Enel will continue to play a prominent role in their ongoing growth and development in the global capital markets.” Judith Hartmann, Chief Financial Officer & Executive Vice President of ENGIE said: “With €5.25bn of green bonds issued since 2014, ENGIE confirms its commitment to lead the energy transition and to drive actively the development of sustainable finance. By matching the company´s long-term view and investors´ sustainability goals, ENGIE considers green bonds as a critical lever to shape tomorrow´s low carbon and socially responsible energy world.” José Sainz Armada, Chief Financial Officer of Iberdrola, said: “Ever since incorporating Sustainable Development Goals to the company’s strategy, Iberdrola has become the largest European issuer of green bonds, the perfect source of long-term finance for projects making an environmental difference. Through independent certification, private investors guided by ethical principles ensure their funds are managed with a sustainable perspective and the strictest social criteria.” Victoire Aubry, Chief Financial Officer of Icade, declared: “As a player involved in environmental transition, Icade aims to be at the forefront of sustainable real estate. In this context, beginning of September, Icade has issued successfully, its first green bond for a total of € 600 million. This green bond is fully in line with the proactive CSR policy pursued at all levels of the organisation. It will support Icade’s ambition to be a leading player in CSR among Real Estate Investment companies” Charles-Antoine Blanc, Chief Financial Officer of Paprec Group declared: “As a company fully dedicated to environmental services and more specifically waste recycling, we have started to issue green bonds by 2015 for an aggregate amount of 705 million euros. Those green bonds have allowed us to develop the company significantly since then with respect to our CSR policy but also Green Bond Principles.” Hugues de Nicolay, Deputy CEO – Finance & Purchasing - SNCF Réseau said: “In order to reach the objectives set by the Paris Climate Agreement and to foster a transition towards low carbon transportation, SNCF Réseau has decided to place Green Bonds at the heart of its financing strategy. Our objective is to become a leading player on this market not only in terms of volume - in less than 12 months, we launched three Green Bonds for a total amount of 2.65 billion euros - but also in terms of high-level standards.” Gregor Alexander, Finance Director of SSE, said: “We are pleased our issuance earlier this year shows our commitment to SSE’s sustainability and responsibility principles. It sends out a clear and unequivocal message to stakeholders, that SSE supports the transition to a low carbon energy system and wants to see a sustainable economy in the UK and Ireland in the long term.” Otto Jager, Chief Financial Officer of TenneT: "Issuing green bonds related to certain activities or projects is a first important step by an enterprise in taking responsibility for its social and environmental impact. I expect that in the future the ESG record of a company as a whole will become just as an important factor for investors as its financial performance." READ MORE
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04/12/2017Iberdrola announces that Manuel Marín, Chairman of Fundación Iberdrola Spain, has passed away Manuel Marín, Chairman of Fundación Iberdrola Spain, passed away today in Madrid at the age of 68 after a long illness. The Foundation deeply regrets the passing of Manuel Marín. Our hearts and prayers go out to his family and friends. Since he was appointed Chairman of Fundación Iberdrola Spain in 2008, the international experience and strong will for integration of Manuel Marín have helped consolidate Iberdrola's firm commitment to the energy, cultural and social development of all communities in which the company operates, driving initiatives that have helped improve the quality of life of many people. Prior to this, among many other very important responsibilities, Manuel Marín was the Vice President of the European Commission and acting President of this institution. He was also the President of the Congress of Deputies of Spain, where he started his political career in the 1977 constituent legislature. Viewed as a true Europeanist, Marín played a very relevant role in 1985 as the Secretary of State, when the Treaty of Accession was signed by Spain to become a member of the European Community. During his first years as a member of the European Commission, in which he worked for over a decade, he played a key role in the development and implementation of the "Erasmus" and "Fight against Cancer" programs, among many other important initiatives. Likewise, he was one of the driving forces behind the creation of the Humanitarian Aid Department of the European Union. READ MORE
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01/12/2017Iberdrola's Chairman met with the Platform for Hepatitis C Sufferers Iberdrola's Chairman, Ignacio Galán, today met with representatives of the Platform for Hepatitis C Sufferers (PLAFHC). At the meeting, members of the platform explained their main initiatives in the fight to eradicate the disease. The platform's initiatives include disseminating information regarding all aspects of the disease to the general public and gaining access to the cutting-edge treatments for people with the illness. It is estimated that around 185,000 people in Spain are infected with the hepatitis C virus (HCV), of which 95,000 have been diagnosed and 82,000 are currently undergoing treatment. One of Iberdrola's main focuses of action is its commitment to society as reflected in initiatives that enhance people's quality of life: not just for those within its own organisation, but for the general public, as proof of its contribution to sustainable development. One result of this commitment has been its collaboration with the Spanish Association against Cancer (AECC) since 2015, with their joint objective being the organising and outreach of information and awareness-raising campaigns, as well as contributing to fundraising to continue research to fight cancer. READ MORE
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30/11/2017Iberdrola signs a long-term renewable energy sales agreement with Google Iberdrola, through its subsidiary AVANGRID Renewables, has signed its first two large contracts for the supply of renewable energy with the American multinational Google. Under the terms of the agreement signed between the two companies, Iberdrola will supply Google with a total of 196 megawatts (MW) of renewable energy from the Coyote Ridge and Tatanka Ridge wind farms. Each of them will have 98 MW of installed capacity. These two new facilities, which will be located in the counties of Brookings and Deuel in the state of South Dakota, will produce renewable energy equivalent to the average annual consumption of more than 50,000 North American households. Through this agreement, Google will move towards meeting its ambitious energy consumption targets through renewable sources in all of its global operations. “Renewables from projects like Coyote Ridge and Tatanka Ridge bring value to our business as we scale and invest in the communities where we operate,” said Gary Demasi, Google's director of global infrastructure. Contracts such as the one signed with Google are denominated in the United States as Power Purchase Agreements (PPAs) and guarantee the profitability of the energy facilities in this country in the long term. Iberdrola has already signed PPAs in most of its US renewable facilities, which have provided great stability to its investments in this strategic market for the company, being one of the main pillars of its commitment to the country. About AVANGRID The Iberdrola affiliate AVANGRID, Inc. (NYSE: AGR) is a diversified energy and utility company with more than $31 billion in assets and operations in 27 states. The company owns regulated utilities and electricity generation assets through two primary lines of business, Avangrid Networks and Avangrid Renewables Avangrid Networks is comprised of eight electric and natural gas utilities, serving approximately 3.2 million customers in New York and New England. Avangrid Renewables operates more than 6 gigawatts of owned and controlled renewable generation capacity, primarily through wind and solar, in 22 states across the United States. READ MORE
