News
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24/02/2017Board of Directors of IBERDROLA convenes General Shareholders´ Meeting for 31 March The Board of Directors of IBERDROLA has agreed to convene the company’s General Shareholders’ Meeting for Friday 31 March, on first call. The company’s highest governing body has drawn up the annual accounts and the management reports (individual and consolidated, where the latter includes the group’s subsidiary firms) for 2016. There are 18 items on the agenda for the upcoming General Shareholders’ Meeting including the payment of a bonus of €0.005 gross per share for attending the General Shareholders’ Meeting. The General Shareholders’ Meeting should also approve the proposal for distributing the profits and dividends for FY2016. In order to avoid the dilution effect of implementing the Iberdrola Flexible Dividend scheme and maintain the profit per share, another of the items on the agenda concerns the approval of a reduction in the company’s share capital by a maximum of 3.41%. In this regard, the Board of Directors of IBERDROLA has agreed to carry out a share buyback scheme that will run until 31 May. Another of the proposals included on this agenda is the appointment of two new members to the Board of Directors: Francisco Martínez Córcoles, Business CEO of the IBERDROLA Group and Juan Manuel González Serna, Chairman of the Siro Group. This follows the notifications received from board members José Luis San Pedro Guerenabarrena and Santiago Martínez Lage, who have decided to resign from their posts for personal reasons. READ MORE
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24/02/2017commitment to Brazil after agreeing to purchase remaining 50% of companies Força Eólica do Brasil 1 and 2 Iberdrola has entered into an agreement with Neoenergia to purchase 50% of the companies Força Eólica do Brasil (FEB) 1 and 2, to the value of about €98 million, in a deal that ratifies its commitment to Brazil and the renewables sector. Iberdrola already had a 50% stake in the capital of these two Brazilian companies and this takeover will give it sole control over 288 megawatts (MW) of wind power facilities in operation in the states of Bahia and Rio Grande do Norte. Given Iberdrola’s 39% stake in Neoenergia, this transaction will not have a major impact on the Group’s consolidated financial statements. To be more specific, FEB 1 has five wind farms with a combined installed capacity of 150 MW: Calango I, IV and V, which have a capacity of 30 MW each and have been in operation since September 2013; and Caetité I and II, which also have a capacity of 30 MW each and were commissioned in October 2014 and March 2013, respectively. FEB 2 has a further five wind farms with an aggregate capacity of 138 MW: Arizona I (28 MW, in operation since October 2013); Mel II (20 MW, in operation since February 2013); Calango II and III (both 30 MW and in operation since September 2013); and Caetité III (30 MW and in operation since March 2013). The transaction is now awaiting approval from the Brazilian antitrust authority (CADE) and the banks providing the finance, BNDES and Banco do Brasil. Iberdrola and Neoenergia are still the owners, with a 50% stake, of Força Eólica do Brasil (FEB), a company with a portfolio of 1,500 MW in wind power projects in the country and which recently completed the construction of three other wind farms in the state of Rio Grande do Norte with an aggregate capacity of 84 MW: Calango VI (30 MW) and Santana I and II (30 MW and 24 MW, respectively). FEB is currently building a further three renewable facilities with an aggregate capacity of 94.5 MW in the state of Paraíba: the Lagoa I and II wind farms, each with a capacity of 31.5 MW, which are expected to be commissioned in October of this year, and the Canoas wind farm, which also has a capacity of 31.5 MW and is due to be commissioned at the same time. IBERDROLA, benchmark in Brazil IBERDROLA has been operating in Brazil since the year 1997, via its 39% stake in the Neoenergia holding, where its local partners are Banco do Brasil (12%) and Previ (49%). It closed the deal to acquire the Elektro distribution company in 2011. IBERDROLA has also become the leading electricity distribution company in Brazil in terms of the number of customers, with a total of 13.4 million users at the end of 2016, to whom it distributed over 62,700 gigawatt hours (GWh). IBERDROLA also has a major presence in the area of electricity generation in this country: it ended last year with a capacity of 1,247 MW, mostly provided by hydroelectric power plants (764 MW) and wind farms (246 MW), producing over 3,900 GWh in 2016. READ MORE
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22/02/2017Iberdrola invests €4.264 billion (+32.3%) and hires 2,638 people in 2016 2016 Results - The company has posted a net profit of €2.705 billion (+11,7%), driven by the contribution of U.S. businesses, which grew by 53% - 61% of investments were allocated to growth, mainly in renewables and networks in countries with A rating - AVANGID (NYSE: AGR), the US subsidiary of which Iberdrola controls 81.5%, increased investments to $1.900 billion while confirming annual dividend of $1.728 gross per share - Group results allow for an increase of almost 11% in annual remuneration against 2016 earnings, reaching €0.31 gross per share. It will be submitted to the General Shareholders’ Meeting, scheduled for 31 March next Commitment to society - The group has generated a total of 288,000 jobs in the countries where it has operations, according to PwC - A new corporate campus in San Agustín del Guadalix has been opened with training hours per employee being three times the European average - The company has reduced its emissions by 75% since the year 2000 and by 31% over the last five years, having become the No. 1 electric utility on the 2016 Dow Jones Sustainability Index and the only one in the sector to have been selected on a consecutive basis in all 17 editions - Iberdrola’s purchases of goods and services in 2016 amounted to €9.884 billion from some 18,000 suppliers - The company’s tax and rates payments amount to €5.750 billion in all of the countries where it has operations Update to the Outlook for 2016-2020 - The group is accelerating its investments due to specific projects for growth and strong financials: adding €1 billion, mostly allocated to renewable projects in the United States, and bringing the total up to €25 billion - According to a specific model that combines geographical diversification with a focus on the energy transition, the company will be allocating around 90% of its investments to network extension and digitisation (42%), renewable energy (42%) and regulated generation (7%), areas accounting for 81% of EBITDA at the end of the period - As regards currencies, the investments will be split in US$ (48%), GBP (29%), euro (20%) and others (3%), mostly in countries with A rating - This means that Iberdrola is improving its outlook for net profit annual average growth of around 7.5% to €3.5 billion by 2020 - This trend means that shareholder remuneration is expected to increase in line with the results to a range of €0.37 - €0.40 gross per share by 2020, with a base line of €0.31 gross per share in the period IBERDROLA invested €4.2643 billion in FY2016, a 32.3% increase on the previous financial year. Most of this amount - 90% - was allocated to regulated businesses or activities covered by long-term contracts, in keeping with the group’s strategy of focusing on areas that are stable and with predictable returns. Also, 61% of the €4.2643 billion went towards growth projects, mainly to renewables and in countries with A rating. Parallel to the increase in investments for the new stage, the workforce that will enable the company’s new projects also grew. The group hired an additional 2,638 members of staff in 2016, thus promoting sustainable economic development by providing high-quality, stable employment. As regards the results for FY2016, Iberdrola posted a net profit of €2.705 billion, up 11.7% on the figure for 2015. This good performance is mostly due to the good progress made by the business in the United States, which has increased its contribution by 53%. AVANGRID, Iberdrola’s NYSE-listed North-American subsidiary, posted a net profit of €630 million (+53%)1, which means it is in a position to offer an annual dividend of at least US$1.728 per share. In the same period, it made investments worth $1,900 billion. The group’s gross operating profit (EBITDA) improved by 5.5%, increasing to €7.8077 billion. Excluding the exchange rate effect, the increase is 8.2%. Of the total amount, 77% come from businesses that are regulated or under long-term contracts. As regards the businesses, it is worth noting the particularly strong performance in networks with Its EBITDA growing by 12.5% to €4.0817 billion driven by the US and Spain. EBITDA in generation and retail was €2.2533 billion (-3%), with improved results in Spain but affected by the exchange rate and lower production in Mexico. Renewable EBITDA stood at €1.5002 billion (-8.9%) due to lower wind resource throughout the year. Iberdrola has also continued to improve its operating efficiency, up 5% after a 4.5% reduction in net operating expenses during the year. Funds from operations (FFO) rose to €6.3108 billion, 6.8% more than in 2015. In financial terms, the group maintained a solid balance sheet, with an FFO/ financial debt ratio of 21.5%. The positive results achieved throughout the year allow Iberdrola to propose at least €0.31 gross per share in shareholder remuneration for FY2016, pending approval by the upcoming General Shareholders’ Meeting scheduled for 31 March next. The increase is equivalent to almost 11% from the €0.28 gross per share pledged for FY2015. IBERDROLA, committed to society Iberdrola has continued to drive economic and social progress throughout the year 2016. As well as adding a further 2,638 professionals to its team, the company has generated some 288,000 jobs worldwide, according to the conclusions of a study carried out by Pricewaterhouse Coopers (PwC) on the basis of the figures for 2015. With the inauguration of its new corporate campus in San Agustín del Guadalix (Madrid), which is proof of its commitment to excellence, the average number of hours of training provided to its employees is three times the European average. In economic terms, the company contributes €5.750 billion in taxes and rates worldwide. Iberdrola made purchases of goods and services in 2016 worth €9.884 billion from some 18,000 suppliers. The company is also ranked fourth among world utilities for investment in R&D, having allocated €211 million to this area in 2016. The group is committed to innovation as a means of guaranteeing sustainability, efficiency and competitiveness. These factors have made it the No. 1 electricity utility on the Dow Jones Sustainability Index for 2016 and the only energy company to have been included in its 17 editions. Iberdrola has reduced its emissions by 75% since 2001 and by 31% in the last five years. Iberdrola, utility of the future The increase in demand and the need to reduce emissions in order to implement the historic Paris Agreement mean that a process of electrification of the economy is needed. Iberdrola anticipated this process and has become what the utility of the future should be; with more renewables, more storage capacity, more and smarter networks and innovative customer solutions: - Renewables: Around 60% of the group’s operating capacity - 27,417 megawatts (MW) - come from clean generation sources and it has a further 7,000 MW under construction. The company is already world leader in onshore wind power and is making major investment efforts in offshore wind. - Storage capacity: The group has 4,500 MW in pumped storage hydropower under construction and in operation, equivalent to the capacity of 5 million household batteries. - Smart grids: The company has already installed nine million smart meters in Spain and beaten the 2016 regulatory targets for this kind of equipment in the United Kingdom. In the United States, 100% of meters in Maine are smart and 63% in Connecticut. Iberdrola’s medium and high voltage networks are 100% digitised in Spain, the United Kingdom and Brazil. - Smart customer solutions: Iberdrola is focusing on the development of new products based on the use of big data, so it can offer customised rates and innovative possibilities such as remote heating control and alternatives for self-generation and energy management. These four main areas are aligned with a business model that combines geographical diversification and energy transition. In the United States, AVANGRID has turned into a huge platform for the development of new energy infrastructure. The subsidiary focuses its activity on networks and renewables, and is the country’s second wind power operator. In the United Kingdom, the company’s subsidiary ScottishPower is the leader in wind power and conditions are favourable for growth in the networks area. In the generation and supply business, it offers users smart solutions and has a pumped storage capacity of 440 MW in hydropower. In Continental Europe, it is one of the utilities with the lowest emissions levels - 67% lower than its competitors’ average - leading the renewables and smart grids market. It is also the company with the highest pumped storage capacity on the continent, with 3,200 MW in operation and an additional 880 MW already under construction. Mexico’s energy reform has positioned Iberdrola as the ‘first mover’ to take advantage of new opportunities in the generation business - it is already the largest private electricity producer - and in renewables, with current 370-MW wind power capacity expected to jump to 1,065 MW by 2020. The restructuring of the energy sector in Brazil also presents opportunities for the group, in both networks and renewables: the company is already the leading distributor in terms of the number of customers and its renewable energy capacity in operation amounts to 2,500 MW. Update to the 2016-2020 Outlook Iberdrola has exceeded its estimates for the 2014-2016 period, obtaining a net profit €188 million higher than expected by the end of the three-year period and accumulating an average annual growth rate of 5.9% in terms of EBITDA compared to its target rate of 4%. In terms of shareholder profitability, that of Iberdrola increased by 55% during the 2014-2016 period, compared to an 18% increase in Eurostoxx50 and 14% in Eurostoxx Utilities. This point of departure means that Iberdrola is in a position to improve its Strategic Outlook for 2016-2020. First of all, it will be increasing its investments by €1 billion, bringing the total up to €25 billion, most of which will be allocated to new renewable energy assets in the United States. Of this amount, around 90% will be earmarked for activities which are regulated or covered by long-term contracts: networks (42%), renewables (42%) and regulated generation (7%). These areas will provide 81% of the group’s EBITDA in the year 2020 and around 60% will originate from countries with A rating. As regards currencies, investments will also be diversified: 48% will be made in US$, 29% in GBP, 20% in euros and 3% in other currencies. 60% of investments will be in countries with A rating. Additionlly, Iberdrola expects to generate €35 billion in funds from operations in 2020. On the basis of this growth rate, the company also improves its outlook for average annual net profit increase, bringing it up by 7.5% to around €3.5 billion by the end of the period. In terms of EBITDA, the increase is expected to be about 6% per year on average, reaching €10 billion by 2020. This will all be achieved while maintaining strong financials and improving its return on investments, as has been the case with the group in recent years. These forecasts mean that Iberdrola is in a position to anticipate an increase in dividend for the years to come, reaching an annual shareholder return of between €0.37 to €0.40 gross per share by 2020 and maintaining a baseline of €0.31 gross per share. Thus, the pay-out will be maintained at between 65% and 75%. The company also plans to continue its Iberdrola Flexible Dividend scrip scheme and to continue to offer treasury buy-back schemes for subsequent amortisation, so that the number of shares in the Company remains at 6,240 million. In short, Iberdrola will continue to anticipate the energy transition with a business model that combines vision, strategy, performance and sustainable growth whilst increasing shareholder remuneration and long-term visibility. READ MORE
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20/02/2017Iberdrola installs the first wind turbine in the Wikinger offshore wind farm (Germany) Iberdrola has successfully installed the first of the 70 wind turbines of the Wikinger offshore wind farm, a renewable energy infrastructure that the company has developed in the German waters of the Baltic Sea. With the installation of the first wind turbine, Iberdrola has reached a new and significant milestone in the development of this infrastructure, after completing the installation of the jackets or executing the foundations of the offshore substation and interior wiring of the wind farm to connect the wind turbines to the substation. The company has met the deadlines set forth for the first construction phase of the Wikinger project. To do so, it has overcome the problems associated with these projects, working under extreme environmental conditions, which have been particularly harsh during the Polar cold wave that struck the Baltic region in January. Wikinger, with an investment of almost €1,400M, will be capable of generating up to 350 megawatts (MW) of clean energy, which are equivalent to the consumption of 350,000 German homes, representing over 20% of the demand for energy of the state of Mecklenburg-West Pomerania, the region where the wind farm is located. This facility faces the Northeast coast of the German island of Rügen and it will be the company's second offshore wind farm, following the commissioning of the West of Duddon Sands wind farm in the Irish Sea in 2014. Wikinger is having an important pull effect in the different areas in which the project is being carried out, with approximately 2,000 jobs created for the construction works at the port of Mukran and at the factories where all of the components are being manufactured, both in Germany and Spain. The AD-5000 – 135 turbines are manufactured as state-of-the-art structures by Adwen (Gamesa Group) in the Bremerhaven and Stade manufacturing plants (Germany) and have a 5 MW unit power. These are the wind turbines with the highest power rating and largest dimensions that the company has installed in its entire history. They are made up of a 222-ton nacelle, a rotor with a 135 metre (m) diameter and blades with a 77.5 metre length, as well as a 75-metre high tower. READ MORE
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16/02/2017Iberdrola signs for first green loan for energy company to value of €500 million from BBVA Iberdrola has signed for a €500 million green loan with BBVA, with more advantageous conditions for the company. It is the first transaction of this kind to have been completed in the energy sector worldwide, as well as being the highest amount signed so far in this finance category. The term ‘green loan’ is applied to transactions that provide access to finance or refinance for sustainable or socially responsible projects. The amount of €500 million obtained by Iberdrola will for the most part be allocated to projects linked to energy efficiency and renewables. Its green status is validated by independent agency Vigeo Eiris, which certifies the correct application of the resources obtained in accordance with the Green Bond Principles . Vigeo Eiris also considers that the projects to which the resources obtained will be allocated are aligned with the following United Nations’ Sustainable Development Goals (SDGs) , which Iberdrola has incorporated into its strategy: SDG no. 7 - Affordable and Clean Energy and SDG no. 12 - Responsible Consumption and Production. In signing this loan, Iberdrola is once again taking the lead in sustainable finance initiatives. In this regard, the company was the first Spanish firm to place a green bonds issuance, in April 2014. Since then, the group has successfully completed four such issuances and was the largest issuer worldwide in 2016. This is evidence of the group’s strategy of ensuring that most of its liabilities have green status, in keeping with the company’s commitment to a low-carbon energy mix. READ MORE
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10/02/2017Iberdrola passes nine-million mark as regards number of smart meters installed in Spain In early February, the number of smart meters installed by Iberdrola Distribución in Spain passed the nine-million mark. This work is being completed as part of the STAR project ( Spanish acronym for Remote Grid Management and Automation System) in the 10 autonomous regions where the company has electricity distribution networks. The company has modernised 85% of all its meters in Spain with a capacity under contract of 15 kW or less (which amount to some 10.5 million devices altogether). It is now ahead of the official schedule set by the Spanish Ministry of Industry. Iberdrola has also adapted around 55,000 transformer stations throughout Spain, equipping them with remote management, supervision and automation capabilities. This means that Iberdrola is one of the most advanced companies in the world when it comes to the infrastructure needed for smart electricity grids, on account of the volume of smart meters it has installed and connected and the simultaneous adaptation of its distribution network with the addition of real-time supervision and automation capabilities. Having a smart meter with remote management means that customers can visit the website www.iberdroladistribucionelectrica.com to check their daily, weekly and monthly consumption curves and find out the highest capacity required, as well as many other items of data. This information shows the breakdown for the electricity consumption so that it may be used more efficiently and to make it easier to decide on the type of rate that suits each profile best. Iberdrola employs the most stringent international standards and robust encryption algorithms that offer maximum security in order to guarantee the authentication, confidentiality and privacy of each individual digital device with specific user IDs and passwords. The digital meters also use high-security cryptographic keys, in keeping with the standards in place on an international basis in the sector, ensuring that data packages are encrypted and authenticated before leaving the devices. Apart from meeting the official schedule for the roll-out of remote management capabilities, IBERDROLA also intends to use this project as a springboard for technological evolution and upgrading its electricity distribution network by digitising and automating it with the new smart grid technologies. The STAR project will require an overall investment by the company in Spain amounting to over €2 billion. It is expected to be completed in the year 2018 and will involve the replacement of over 10.5 million meters and the adaptation of some 80,000 transformer stations. IBERDROLA boosts business sector The gradual roll-out of smart grids in Spain once again demonstrates IBERDROLA's strong pull effect on the domestic business sector and the associated positive impact on job creation and maintenance. In this regard, the company has awarded contracts linked to the STAR project in recent years to various manufacturers and suppliers, such as Indra, AEG, Arteche, Elecnor, GE, Gobesa, Ibérica Aparellajes, Premium, Fanox, Ingeteam, Landis&Gyr, Mesa, Orbis, Ormazábal, Sagemcom, Schneider, Siemens, Sogecam, Teldat, Zigor or ZIV, valued at about €900 million. Some of the main advantages of smart grids are the integration of generation from renewable sources, the possibility of rolling out electric vehicles on a mass scale and the improved efficiency in electricity consumption. In this latter area, they will allow for the instantaneous remote provision of various services, such as real-time meter-readings, processing contract registrations and cancellations or altering the capacity under contract. READ MORE
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09/02/2017Iberdrola announces new Master’s scholarships for energy and environment and research grants IBERDROLA has launched a new call for applications for scholarships and research grants for the 2017-2018 academic year, with the goal of promoting excellence in training the upcoming generations. This edition of the IBERDROLA International Scholarship Programme organised by the company’s various international foundations includes grants to conduct research in Spain and scholarships to complete Master’s degrees in energy and environment in Spain and the UK, as well as the open call to pursue studies in the United States. The company plans to award almost 150 scholarships this year to students with Spanish, British, U.S., Mexican and Brazilian nationalities. The scheme will be allocated a total of €3.7 million. Ever since this scheme was set up in 2010, the number of scholarships has increased by over 300%, thus multiplying the number of grants awarded by four. Via this initiative, IBERDROLA wishes to contribute towards excellence in training in the field of energy, with a particular focus on the development of renewable energies and boosting biodiversity, as well as the efficiency of the energy system. The enrolment process for this new call for applications opens today and will remain open until 7 April next. Those wishing to be considered can read about all the conditions and fill out the application form on the Fundación Iberdrola España website or those of the group’s other foundations in the countries where Iberdrola has operations. Scholarships for Master's Studies in Energy and Environment in Spain Via its various international foundations, IBERDROLA plans to award 42 new scholarships for the completion of Master’s degree studies in Spain during the 2017-2018 academic year. These grants are intended for students with Spanish, British, U.S., Mexican and Brazilian nationalities. Recipients should focus their training in areas linked to renewable energies, sustainable energy systems, environment, clean carbon technologies, emissions management, energy efficiency, energy storage, electric vehicles, smart distribution grids, information and communication technologies (ICT), big data or cybersecurity. These scholarships are open to degree-holders, graduates and finalists. Those that are selected will receive a grant worth €10,800 to cover accommodation and transport costs, in addition to their tuition costs. As well as academic grades and language skills, other factors that will be taken into account when selecting the candidates are applying to complete a programme of studies in a different university to where they have completed their undergraduate degree and in a country, autonomous region or province that is different to the candidate’s usual place of residence, as this promotes the sharing of knowledge. Scholarships for Master's Studies in Energy and Environment in the UK As part of its International Scholarship Programme, IBERDROLA is also offering a total of 38 scholarships to pursue postgraduate studies in the United Kingdom. Applicants can choose between seven prestigious British institutions: Imperial College of London, the University of Edinburgh, the University of Strathclyde, the University of Liverpool and the University of Glasgow, as well as the University of East Anglia and the University of Cambridge, which were added to the list this year. Eligibility for these scholarships is limited to degree-holders, graduates and students in their final year of an undergraduate degree, who are in possession of Spanish, British, U.S. or Brazilian nationality and who have applied to complete a Master's degree in the area of energy and environment at one of the universities listed above. The scholarship will cover the cost of tuition and an additional grant worth €18,960 will be awarded to cover transport and accommodation expenses. Grants to complete research in Energy and Environment in Spain By awarding these grants, IBERDROLA seeks to promote research in areas linked to energy and environmental sustainability. In this new call for applications, the group will be backing up to 20 projects to be carried out at centres of research or universities located in Spain. Applicants will have to be assessed by the team and by the centre where the research is to be conducted. Each grant will be worth a maximum of €20,000 per project and last for one year. This initiative is also based on IBERDROLA’s commitment to strengthening ties between private enterprise and the research community, as well as its support for technological development with a view to transforming the energy model. Support for a new highly skilled generation As part of its commitment to the territories where it carries out its operations, IBERDROLA supports the creation and sharing of knowledge in order to help train a generation of highly-skilled professionals to face up to the challenges that lie ahead, including the development of a sustainable energy model. There is now also an open call for applications for scholarships to pursue Master’s level studies in the fields of energy and environment in the United States. In this case, eligibility is limited to students with undergraduate degrees that are in possession of Spanish or U.S. Nationality and the Master’s studies may be completed at the University of Rochester, the University of Maine, Binghamton University, Oregon State University, the Rochester Institute of Technology, the University of Connecticut and Cornell University during the 2016-2017 academic year. Candidates will be able to read all the information and requirements that apply to the call, as well as fill in the online application form on the Fundación Iberdrola España or AVANGRID Foundation websites by 17 February. Iberdrola-Fulbright and Fundación Carolina scholarships As well as the above calls for applications, IBERDROLA’s International Scholarship Programme also allows for collaboration with other institutions in the area of energy and environment. For example, the Fulbright Commission has once again announced the Iberdrola-Fulbright scholarship for the 2018-2019 academic year as part of its international academic offering. Students wishing to apply can read about all the conditions that apply to the call and submit their applications via the www.fulbright.es website before 16 March next. Again with the support of IBERDROLA, the Fundación Carolina will be granting ten scholarships for Master’s level studies in areas linked to energy and environment at Spanish universities. In this case, eligibility is extended to include students from any Ibero-American country. Those wishing to apply can read about all the conditions that apply to the call and submit their applications via the www.fundacioncarolina.es website by 6 April. IBERDROLA’s International Scholarship Programme also includes grants to complete training and research at the Prado Museum in Madrid and the Museum of Fine Arts in Bilbao. These will enable future experts to complete their training at the highest possible level by taking part in the conservation and restoration schemes run by these institutions. Iberdrola committed to the Sustainable Development Goals With its International Scholarship Programme, Iberdrola contributes towards attaining the Sustainable Development Goals (SDGs) of the United Nations, which it has integrated in its business strategy. By awarding these grants, the company focuses its efforts on meeting goals 13 (climate action), 7 (affordable and clean energy) and 4 (quality education). READ MORE
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07/02/2017Iberdrola to invest over €6 million on improving the supply in the northern area of La Manga del Mar Menor Iberdrola Distribución is to invest over €6 million on improving the electricity supply in the northern area of La Manga del Mar Menor, installing a new underground power line that will run for about two kilometres at a depth of 15 metres below sea level. This important intervention will also allow to dismantle the existing overhead medium voltage power line that currently crosses the La Encañizada islet from the La Ezequiela Mill, inside the grounds of the San Pedro del Pinatar regional park with its sand dunes and salt flats. The existing power line will be dismantled after the new underground electricity pipeline is commissioned, which will allow to improve the reliability and quality of the supply throughout La Manga. The electricity supply to La Manga del Mar Menor currently comes almost exclusively from the power lines that leave the La Manga electrical substation, which is located at the entrance to the area. The distance covered by some of the cables to reach the points of supply located in the northern area is about 20 km. The commissioning of the new power line from the San Pedro del Pinatar electrical substation will equip La Manga with a new electricity supply from the northern area, thus increasing the reliability of the company’s distribution network due to the availability of a double supply - from the north and from the south - with one being able to back up the other in case of any exceptions. Four new medium voltage power lines This project, which is ambitious in both technical and environmental terms, will commence with the construction of four medium voltage (20 kilovolt (Kv) power lines combined in an underground pipeline that will be 12.5 km long, starting at the San Pedro del Pinatar transformer substation. One of these lines will boost the supply to the urban area of the locality and the remaining three will continue in the underground pipeline along a further 3.5 km, running under the Quintín Mill Route. At this point, in order to reach the north of La Manga del Mar Menor, the triple circuit will have to run through about two kilometres of sea. The crossing will be completed using remote-controlled horizontal directional drilling (HDD). The drilling will be carried out at a depth of 15 metres under the sea bed, using the islet of La Encañizada as the base of operations. Each of the three power lines will be laid in separate tubes, which will in turn be contained inside a common pipeline. The HDD technique for installing the undersea cable will be completed in two separate operations starting out from the La Encañizada islet: the first pipeline will run north in the direction of the La Ezequiela Mill, always under the sea bed and covering a distance of 1.2 km; and the second will run south over a distance of 610 m, emerging in the northern area of La Manga del Mar Menor. HDD is the most environmentally-friendly method for installing underground pipelines. As well as being efficient and clean, it avoids causing an impact on the sea bed and on the surface. This technique allows to direct the drilling work on a controlled basis using geolocation positioning systems via the most suitable route for installing the pipeline at a depth of 15 metres, considering the sea bed to be level zero. Once it reaches the north of La Manga, the pipeline will continue its route along roads, connecting with the existing networks to the transformer stations in the area, thereby helping to improve reliability and boost the electricity supply. The company plans to commence the work involved in the first stage of the project in the month of March and the time frame for completing the entire project is two years. The transmission capacity of the new underground pipeline will be enough to supply electricity to some 23,000 households. The project involves over 150 km of electricity cables, 12,500 m of underground pipelines, 1,850 metres of HDD, the interconnection of 10 transformer stations and some 28,000 man-hours of direct employment. READ MORE
