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25/07/2018Iberdrola obtains an ordinary net profit of €1.368 billion in the first half of 2018, an increase of Iberdrola obtained a net ordinary profit[1] of €1.367 billion in the first half of 2018, 27% more than in the same period of the previous year. This increase is due to the positive performance of international business, the growing return from the €20 billion invested over the past five years, improved efficiency and the normalization of the operating conditions in its core markets. The absence of extraordinary impacts over the period, vis-à-vis 2017, explains a reported net profit of €1.41 billion, just down by 7.1%. During the previous year, after-tax extraordinary items amounting to €442 million were reported, related to the Siemens-Gamesa transaction and the price correction of the company’s gas contract portfolio in Spain. Also, it is important to emphasise the negative impact of changing exchange rates on the net profit for 2018 which in the first half of the year amounted to €69 million. Iberdrola’s revenues were €17.586 billion in the first half, an increase of 17.5% versus first half 2017. The group’s gross operating profit (Ebitda) increased by 17.1% to reach €4.435 billion. Excluding the foreign exchange effect, which had a negative impact of €260 million, the rise would have been 24%. In addition, Ebitda shows a positive trend in all businesses. Thus, Renewables Ebitda grew 25.5% to €1.184 billion; Networks rose by 20.7% to €2.387 billion and that of Generation and Supply by 1.7% to €877.6 million. The company continued to improve efficiency thanks to operating growth and cost containment, bringing down its net operating expenses to gross margin ratio by 100 basis points to 27.5% from 28.5% in 2017. Besides the €20 billion invested throughout the past five years, Iberdrola’s net investments amounted to €2.478 billion in the first half of 2018, with 42% of the total allocated to Networks, 36% to Renewables and 22% to Generation and Supply, in line with the group’s strategy of focusing on regulated businesses with predictable returns. Iberdrola also installed 423 new megawatts (MW) of renewable capacity between the months of January and June. In the second half of 2018, the company plans to commission another 2,326 MW of new capacity, out of which 537 MW will be renewables and 1,789 MW of gas combined cycles in Mexico. Funds from operations stood at €3.493 million, up 5.6% vis-à-vis the same period in 2017. If the one-off dividend paid in cash by Gamesa (€198 million) in 2017 is excluded homogenous stands at 12.3%. The group’s debt stands at €34.03 billion as opposed to €29.47 billion in June 2017. This increase is due to the consolidation of Neoenergia in Brazil – which contributes to more than €2.6 billion of debt –, and the investments made during the period. Also, the group continued to lead the sustainable financing market. In the first six months, it got €11.8 billion in new financing and credit lines: €4.45 billion in green financing plus €5.3 billion and US$2.5 billion of credit lines linked to sustainability criteria. The latter being the first sustainable credit agreement concluded by subsidiary AVANGRID. Thus, 23% of Iberdrola’s liabilities are ‘green’ and 75% of the credit lines are linked to sustainability criteria. Performance by business and country: growth in all areas All of Iberdrola’s business areas registered a positive performance during the first half of the year. The Network business Ebitda increased in all countries and grew by 20.7% to stand at €2.387 billion, despite the negative impact of the costs caused by storms in the United States. In Renewables, Ebitda reached €1.184 billion up to June, representing an increase of 25.5% over the same period in 2017. This result was driven by increased production and the contribution of Wikinger offshore wind farm in German waters of the Baltic Sea. Generation and Supply Ebitda grew 1.7% to €877.6 million, despite the extraordinary impact of the gas business in Spain in the first half of the previous year. AVANGRID, the North American subsidiary listed on the New York Stock Exchange and of which the group has a controlling 81.5% stake, posted a net profit of US$371 million. In addition, it will increase its third quarter dividend to $0.44 per share, from $0.432 per share. In Brazil, Neoenergia’s Ebitda stood at R$2.159 billion, up 43%, while its net profit recorded R$671 million (144% more than in the first half of 2017), taking into account the 100% consolidation of the company as of the second half of last year. Delivering the 2018-2022 Strategic Outlook After the investments made, Iberdrola has continued meeting the targets of its 2018-2022 Strategic Outlook. In Networks, the NECEC project developed by AVANGRID has been selected to implement the interconnection between Canada and Massachusetts. In addition, the tariffs of Neoenergia distribution companies Coelba and Cosern have been revised for a five-year period. In R enewables, Iberdrola has stepped up its commitment to offshore wind energy. During the first six months of the year, the company installed the first jacket foundations at the 714-MW East Anglia One wind farm in UK North Sea waters while taking delivery of the offshore substation, Andalucía II. Moreover, Iberdrola was awarded new offshore wind capacity: 486 MW in Germany’s Baltic Sea and 800 MW off the coast of Massachusetts in the United States, through the company Vineyard Wind. In France, tariffs have been approved for the future offshore wind farm in Saint Brieuc, with a capacity of nearly 500 MW. The company has also been awarded 471 MW of onshore wind power to develop in Paraiba and has completed 122 MW new capacity at Belo Monte hydroelectric plant, both in Brazil. With regard to solar energy, Iberdrola has completed installation at the photovoltaic plants of Santiago (150 MW) and Hermosillo (77 MW) in Mexico while in Spain it announced the construction of the 391-MW Núñez de Balboa PV plant, in Extremadura. In Generation and Supply, the group has already installed one million smart meters in the United Kingdom while in Mexico it has repowered the Monterrey combined cycle plant and renegotiated tariffs with the Federal Electricity Commission (CFE). Iberdrola's investment plan, which involves €32 billion between 2018 and 2022, is thus moving forward as pledged, with 86% of the total already under construction or firmly committed. Networks (with a total of €15 billion) and Renewables (with a total of €12 billion) represent already 90% of planned investments in February this year. Iberdrola reaffirms the results guidance for 2018 The solid business performance expected for the second half of the year allows Iberdrola to reaffirm its guidance for 2018. In Networks, returns will improve in the United States and Brazil. In Renewable Energy, new onshore wind capacity will be developed in Mexico, offshore wind in Germany and hydroelectric in Brazil. Likewise, the high water reserves used for hydroelectric generation will also have a positive effect, with increased production. In Generation and Retail, the company expects an improvement in prices in Europe and Mexico, as well as the normalisation of nuclear production and the contribution of the new capacity to results in Mexico. All of this will be combined with higher levels of efficiency. Thus, on this scenario, Iberdrola expects to close 2018 with an Ebitda of more than €9 billion and a reported net profit of close to €3 billion, which will allow it to continue increasing the shareholder remuneration in line with results. [1] This excluded positive adjustments in 2017 from the Gamesa merger and the revision of the price of gas in Spain. READ MORE
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23/07/2018Major investment in the energy sector in Portugal: EIB finances Iberdrola´s three new dams and hydropower plants on the Tâmega and Torno rivers The European Investment Bank (EIB) is financing one of the most important energy sector initiatives in Portuguese history. The EU bank will provide a EUR 650m loan to Iberdrola to support a major hydro electrical project that will increase energy storage capacity in the EU, provide services to the Iberian grid operators and ultimately facilitate the increase of the renewable share of the Portuguese energy mix. This investment will reduce the dependence of the Iberian market on fossil energy as well as CO2 emissions. Through this agreement with Iberdrola, the EIB is contributing to the construction of three new large dams and hydropower plants, including a pump storage plant, which will be located on the Tâmega and the Torno rivers, in northern Portugal. With an investment of around EUR 1.5bn, the new Iberdrola´s new infrastructure will have a total capacity of 1,158 MW and will start operating in 2023. To advance the project’s implementation, the EIB and Iberdrola today signed a EUR 500m loan, the first tranche of the total EUR 650m in funds approved to finance this project. The Portuguese and Spanish electricity markets will benefit from the new infrastructure. By increasing generation and storage capacity, the new plants will provide more flexibility and security of energy supply on the Iberian electricity market. The dams (Alto Tâmega, Daivões and Gouvães) are located in the Douro River Basin and are expected to provide an average of 1,760 GWh per year to the Iberian market. Located in a European cohesion region, Iberdrola´s project will also foster economic activity and employment. It will create direct and indirect jobs and will contribute to the economic, social and territorial cohesion of the EU. The project will require hiring up to 13,500 people, including direct and indirect jobs, during the entire construction phase and several hundred in operational phase. The project is part of the Portuguese National Programme for Dams with High Hydroelectric Potential (PNBEPH). The promoter, Iberdrola, won the concession of the project to design, build and operate the plants following a competitive tendering process. At the event held today in Madrid, attended by EIB Vice-President, Emma Navarro, and the Chairman and CEO of Iberdrola, Ignacio Galán, Navarro emphasised “the positive impact of this project to foster the development of clean energy and its contribution to economic growth and job creation in Portugal. This agreement represents a new step towards the implementation of the EU energy policy and climate action objectives. This EIB financing will support the increase of renewable generation in the Portuguese energy mix and will contribute to a sustainable and secure supply of energy. The EIB, which stands ready to step in to finance sound projects that meet our criteria and respond to EU energy policies, is particularly committed to financing green energy projects across the Union”. Ignacio Galán pointed out that “this financing agreement is another step in our collaboration with the EIB and marks a new milestone in one of the largest energy projects in the history of Portugal. The development of the Tâmega hydro power scheme involves three of Iberdrola's core strategic undertakings: investing in clean generation capacity, the development of new storage capacity – with pumped hydro being the only technology to store large amounts of energy efficiently – , and sustainable financing. 23% of our financing is already green which highlights our commitment to sustainable development.” As the largest multilateral provider of climate finance worldwide and largest issuer of green bonds, the EIB is committing at least 25% of its investments to climate change mitigation and adaptation, supporting low-carbon and climate-resilient growth. In 2017, the EU bank exceeded its climate action target for the eighth year, providing EUR 19.4bn to fight climate change. The EU bank in Portugal The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2018, the EIB celebrates 60 years of improving lives in Europe and beyond. With more than 11 900 sustainable investment projects in around 162 countries, the EIB is turning good intentions into reality. Find our video to celebrate the 60th anniversary of the EIB in Portugal here . About Iberdrola Iberdrola is a global energy leader, the main wind producer and one of the five world’s largest electric utilities by market capitalization. The Group operates in many countries and supplies power to nearly 100 million people, mainly in Spain, the United Kingdom (ScottishPower), the United States (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 people and assets worth €110 billion, it filed a turnover of €31.2 billion and a net profit of €2.8 billion in 2017. The company was the largest green bond corporate issuer in 2016 and 2017 across the globe. Iberdrola leads the energy transition towards a sustainable model through investments in renewable energy, smart grids, large-scale energy storage and digital transformation, offering the most advanced products and services to its customers. Thanks to its commitment to clean energy, it is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and the sustainability of the planet, all of which have placed the group in prominent positions on indexes such as the Dow Jones Sustainability Index and FTSE4Good. Iberdrola is considered as one of the world’s most sustainable electricity companies. READ MORE
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19/07/2018Iberdrola reaches one million homes with customised rates Madrid. Iberdrola has reached one million contracts for its Customised Plans , as part of its commitment to provide solutions that meet the needs and different consumption habits of its customers, allowing consumers to adapt to the energy costs they will be incurring. With this customised solution, households benefit from an average saving of 12% on their total bill. Iberdrola continuously monitors and advises these customers to ensure that they enjoy the Plan that best suits their needs and helps them to save more. Once this product has been contracted, Iberdrola continuously analyses consumption and detects whether the contract might be improved, contacting the customer to recommend any change and informing them of the savings this might result in. The company sends out notifications to its customers, informing them of the accumulated savings resulting from the tariff change, or recommending a Plan that fits their personal consumption habits. All these contracts - which are easily managed through the Iberdrola Customer app or the customer's personal account on the Iberdrola website - are formalised with the commitment that the energy supplied will be 100% renewable, certified and with a Guarantee of Origin. This line of products is aimed at consumers on the free market and it allows customers to choose a tariff that adapts to different lifestyles. This enables them to enjoy a tariff plan that better meets their type of consumption – day or night, midweek or at the weekend or even choosing the eight hours of highest consumption in the day, etc. thus saving on their electricity bill. This ability to adapt is achieved by using the hourly consumption information that is now available after the deployment of the smart grid that Iberdrola has completed in Spain, through smart meters and the development of technology that allows the efficient and intelligent management of millions of pieces of data. Iberdrola has one of the most advanced smart grids in the world and has already installed more than 10.5 million digital meters, as well as deploying the smart grid-adapted infrastructure that supports them. Today, almost all of its customers already enjoy the advantages of this modern technology. Iberdrola, committed to its customers Iberdrola is deeply committed to customer satisfaction, which inspires it to keep innovating with products and services that meet customer needs at all times. Using a mobile app or its website --www.iberdroladistribucion.es-- customers can consult their daily, weekly and monthly consumption data, their peak power demand and much more. This information makes it possible optimise consumption and decide on the type of tariff that best suits each profile. Iberdrola leads the way in changing the model, just as it did 15 years ago with its pioneering commitment to wind energy, offering innovative solutions in areas like: sustainable mobility - Iberdrola Smart Mobility, self-consumption systems - Iberdrola Smart Solar-, connective devices for home automation - Iberdrola Smart Home- and, in the case of Energy Wallet, with new products and tools for purchasing, managing and controlling electricity consumption. READ MORE
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10/07/2018Ignacio Galán: “Europe has the capability and the responsibility to lead the energy transition” Ignacio Galán has participated in an event called ‘The vision of the European Union for a modern, clean and competitive economy’, which was organised by the European Commission at the Free University of Brussels. He also reminded participants that the challenge of achieving a competitive and sustainable carbon-free economy should also be seen as an opportunity. In this sense he pointed out that our own commitment to wind power, for example, has created opportunities, both past and future, for the industry. Other business leaders also participated in the event, including E.ON CEO Johannes Teyssen and Vice President of the European Commission for the Energy Union Maros Sefcovic. Arias Cañete urged greater ambition to meet the commitments of the Paris Agreement, insisting that the long-term EU strategy should set a global average temperature increase target of no greater than 1.5 degrees over pre-industrial levels. READ MORE
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06/07/2018Iberdrola renews its commitment to Greece with the award of the Pyrgari wind farm In Greece, Iberdrola has been awarded the construction of the Pyrgari wind farm, with an installed capacity of 16 megawatts (MW). This project renews Iberdrola's interest in Greece, a country where Rokas, an Iberdrola subsidiary since 2004, is already one of the leading companies in the renewables sector, having a total installed capacity of 261.47 MW. The Pyrgari wind farm was awarded to Iberdrola in the latest renewables auction held in Greece and is going to be located in the centre of the country, about 110 kilometres from Athens. The facility will have the latest technology from the Danish company Vestas, with a capacity of 4 MW per unit. It is scheduled to be operational by between 2020 and 2021. At present, in Greece, Iberdrola has 17 wind farms and four photovoltaic power plants. The company has received recognition for the quality of its projects, for example, the Environment Award 2014, in the category 'Development of Sustainable Infrastructure', for the burial of the medium-voltage overhead power network at six of its wind farms on the island of Evia. Iberdrola is the world leader in wind energy production and currently has more than 16,000 MW of installed capacity. The company has focused its presence on renewables in mature markets which enjoy stable regulation. As a result of its commitment to the environment and to the decarbonisation of the economy, it has managed to reduce its emissions in Europe by 75% since 2000, reaching levels that are 70% below the average of the European companies in the sector. About Iberdrola Iberdrola is a global energy leader, the number one producer of wind power and one of the world’s biggest electric utilities by market capitalisation. The group is present in numerous countries and supplies power to around 100 million people, mainly in Spain, the UK (ScottishPower), the US (Avangrid), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 and assets in excess of €110 billion, it posted revenues of €31.26 billion and net profit of €2.80 billion in 2017. 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. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for the sustainability of the planet. Iberdrola forms part of numerous international sustainability indices, among the the Dow Jones Sustainability Index and the FTSE 4Good, and is considered one of the most sustainable electric utilities in the world. READ MORE
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03/07/2018Iberdrola takes delivery from Navantia of the Andalusia II substation for the East Anglia One offshore wind farm, U.K. Cadiz, 3 July 2018.- Earlier today Iberdrola and Navantia held a handover ceremony for the Andalusia II offshore substation constructed by Navantia entirely in its Puerto Real shipyard for Iberdrola’s East Anglia One offshore wind farm in UK waters. Andalusia II, the biggest alternating current (AC) offshore substation ever built, will set sail in the next few weeks for the wind farm that Iberdrola is constructing in British waters With installed capacity of 714 MW and an investment of more than €3 billion, this renewable project is the biggest so far developed anywhere in the world by a Spanish company. The handover ceremony for the substation was attended by José Esteban García Vilasánchez, chairman of Navantia, Ignacio Galán, chairman of Iberdrola and Susana Díaz, president of the autonomous region of Andalusia, who acted as patroness of the substation. Economic motor for local business and employment The East Anglia One offshore wind farm has become one of the main economic drivers for Spanish companies. As had already been the case with the Wikinger offshore wind project (now operational in German waters), Iberdrola was supported by Navantia and some thirty local auxiliary companies in the construction of a fundamental element of the offshore wind farm, the substation. The delivery of this unit, achieved in the agreed upon times of 16 months of work, has allowed the creation of an average of 450 jobs -mostly local ones-, which at peak times of work increased to 600 people. Esteban García Vilasánchez thanked Iberdrola for giving Navantia the chance to prove its capabilities in developing such cutting edge programmes in a sector with such future as offshore wind power. He also commented that this was a key line of business for the diversification of Navantia, which complemented its main business of shipbuilding for the navy as a strategic company in the service of national security, as reflected in the Company’s strategic plan. Ignacio Galán for his part highlighted the key role of efficient renewable technologies such as offshore wind power in the need to tackle the serious problem of climate change, which obliges us to move forward urgently towards the decarbonisation and increased electrification of the economy. In this regard the chairman of Iberdrola welcomed the new EU target of 32% in renewables by 2030 and paid tribute to the initiative of the European Commission and to the determination of Spain’s minister for Ecological Transition, Teresa Ribera. Galán also pointed out that the construction of the Andalusia II substation “exemplifies Andalusia as a vigorous industrial region, at the forefront of technological innovation, demonstrating its ability to generate wealth and employment.” Innovation at the largest a/c offshore substation The Andalusia II offshore substation is the central nucleus of the wind farm being built by Iberdrola in British waters: its function is to collect the electricity produced by the wind turbines and transform it from 66 kV to 220 kV. Electricity is transmitted subsequently through the marine cable to earth, minimising potency losses along the journey. Andalusia II is the biggest AC offshore substation ever constructed in the world. It features design innovations suggested by Iberdrola making for a more compact structure (3,900 metric tons), allowing it to be installed by a vessel specialising in the offshore wind sector. The Andalusia II substation will set sail from Puerto Real for English waters at the beginning of August, so it could be installed at the Iberdrola wind farm towards the end of next month or the beginning of September. During the next two months the remaining components of the wind farm will also be installed on site, among them the piles and the jacket foundations and finally the wind turbines. East Anglia One will come into operation in 2020 and generate enough clean energy to supply nearly 600,000 London households. Having pioneered the move into onshore wind-powered generation, Iberdrola has decided also to spearhead the development of the renewable energy source with the best growth prospects: offshore wind, in which it already has projects in operation. Two wind farms are currently in operation — West of Duddon Sands, in the Irish Sea and Wikinger in the Baltic Sea, and a further 7,200 MW are under development in the North Sea, the Baltic, the English Channel (offshore Brittany) and off the US Atlantic coast. About Iberdrola Iberdrola is a global energy leader, the number one producer of wind power and one of the world’s biggest electric utilities by market capitalisation. The group is present in numerous countries and supplies power to around 100 million people, mainly in Spain, the UK (ScottishPower), the US (Avangrid), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 and assets in excess of €110 billion, it posted revenues of €31.26 billion and net profit of €2.80 billion in 2017. 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. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for the sustainability of the planet. Iberdrola forms part of numerous international sustainability indices, among the the Dow Jones Sustainability Index and the FTSE 4Good, and is considered one of the most sustainable electric utilities in the world. About Navantia Navantia is a world reference in the design, construction and integration of naval vessels with high technological content as well as repairs and refits. The company's lines of business also include designing and manufacturing Combat, Command and Control Systems; Integrated Platform Control Systems; Firing Sights, Propeller Plants and Full Life Cycle Support for all its products. While its main activity lies in the naval sector, Navantia also designs and manufacturers systems for the Army and Air Force. Navantia belongs to SEPI, the Spanish state holding company which holds direct majority stakes in a total of 16 companies, with a workforce of approximately 73,000 in 2014, the Corporación Radiotelevisión Española, which it controls, and a social trust fund. SEPI also holds direct minority interests in a further ten companies and indirect shareholdings in over one hundred other companies. READ MORE
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28/06/2018Iberdrola advances in the construction of East Anglia One: starts installation of first jackets Iberdrola is moving ahead on its East Anglia One offshore wind farm project off the UK’s Suffolk coast in the southern North Sea, and has started installing the first jacket foundations, constructed by Navantia at its facilities in Fene (Galicia, north-western Spain) and the piles, constructed by Windar at its facilities in Avilés (Asturias, bordering Galicia to the east). Over the next few months, a total of 42 jacket foundations, each with a total height (i.e. including the underwater part) of 65.5 metres will be installed, together with 126 piles and the other components. When completed, the wind farm will have an installed capacity of 714 megawatts (MW), and with total investment exceeding £2.5 billion it will be the biggest renewable project so far developed by a Spanish company. East Anglia One will come on stream in 2020 and generate enough clean energy to supply more than half a million London households Project acts as prime mover for other Spanish companies The East Anglia One wind farm has become a prime mover for Spanish companies and certain sectors such as shipbuilding: for the second time, following the Wikinger offshore wind farm project (in the German part of the Baltic Sea), Iberdrola has commissioned Navantia and Windar to develop some of the wind turbine components at their facilities in Spain. Construction of these components is generating one million hours of work, creating an average of 800 jobs and employing as many as 1,300 people at peak points, thus ensuring the continuity of these companies’ businesses in Spain. Siemens Gamesa will supply the 102 7-MW turbines for the farm from its new facilities in Hull, in the north-east of England. Unprecedented size in the renewables sector The size of the project is unprecedented in the Spanish renewables industry: * the wind farm will occupy an area of more than 300 square kilometres (km2) (116 square miles, equivalent to 30,000 football pitches); * the cable taking the power from the wind farm to terra firma will be 85 kilometres or 53 miles long (the distance from Madrid to Toledo or London to Cambridge); * the substation will cover an area of 1,144 m2 (just over four tennis courts equivalent); * the foundations for the wind turbines will weigh around 747 tons, about the same as two jumbo jets; and * the wind turbines will have 75-metre blades and a rotor diameter of 154 metres, mounted on jacket foundations with a height of 65.5 metres (of which 40-48 metres underwater) bringing the total height of the wind turbine to 235 metres. The East Anglia One offshore wind farm forms part of a more ambitious project, since Iberdrola has asked the UK government for permission to expand this offshore facility to 2,000 MW. It has submitted a proposal to the UK authorities to build the East Anglia Three Wind Farm, which will have a capacity of 1,200 MW. Setting the pace in the drive for offshore wind power Having invested more than €90 billion in clean energy since 2001, Iberdrola has become a world leader in wind power and has increased its asset base sixfold. In accordance with its Strategic Prospects for 2018-2022, renewables will continue to be one of the group’s main plays, accounting for 37% of the total of €32 billion in capital expenditure scheduled for the period. Nearly twenty years after pioneering the move into onshore wind-powered generation, the company has now decided to spearhead the development of the renewable energy source with the best growth prospects: offshore wind. It is going to do this in three main areas: the North Sea, the Baltic Sea and off the Atlantic coast of the USA. The group currently has two facilites up and running: * the West of Duddon Sands wind farm, commissioned in 2014 in the Irish Sea, the first such plant to be promoted by a Spanish company; * and the Wikinger wind farm, in the German sector of the Baltic Sea, which has been operational since December 2017. In the next few years Iberdrola will build up its stake in offshore wind generation with new projects. Recently, through Vineyard Wind, the company received authorisation from the Massachusetts Electric Distribution Companies (EDC) to construct a wind farm off the east coast of the United States. The project, which will involve the company’s large-scale deployment in this business in the US, will have installed capacity of 800 MW. These facilities form part of the State of Massachusetts' goals to develop offshore wind infrastructure under its Green Communities Act. Added to this award is that achieved by Iberdrola in Germany in April, for the construction of two new offshore wind farms in the Baltic Sea, with a total capacity of 486 MW: Baltic Eagle and Wikinger South. In June, Iberdrola reached agreement with the French government for the development of the Saint-Brieuc offshore wind farm. It will have a capacity of 496 MW and will be located in Bay of Saint-Brieuc, 20 kilometres off the coast of Brittany. Growth and an essential component in the energy mix According to the latest report of the International Renewable Energy Agency (IRENA) ‘Innovation Outlook: offshore wind’, offshore wind capacity could grow from 13 GW in 2015 to 400 GW in 2045. Exponential growth, which very few technologies would be capable of achieving. By 2030 the market for offshore wind power is expected to reach 100 GW of installed capacity worldwide. The report predicts that offshore wind power will become a significant component in the global energy mix during the next thirty years. According to the report, the introduction of technological advances such as next-generation turbines with bigger rotors, and advances in electricity transmission, will be significant. The report also foresees turbines being available with a unit power of 10 MW in the 2020s and perhaps 15 MW in the 2030s. READ MORE
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27/06/2018Iberdrola is going to build its largest wind farm in Latin America in Brazil Madrid. In the north-east of Brazil, Iberdrola, through its Brazilian subsidiary Neoenergia, is going to build its largest renewable energy facility in Latin America: the Paraíba wind farm complex, with 471 megawatts (MW) of installed capacity, which will add to the already operational 94.5 MW. The Paraíba complex will consist of 18 wind farms and will be located next to the town of Santa Luzia, in one of the areas with the most wind power potential in the Americas. Iberdrola has already selected the firm that will supply the wind turbines for the 471 MW in the development phase: Siemens Gamesa. To be specific, Siemens Gamesa will install 136 model SG132 wind turbines, with 3.4 MW of capacity per unit and a commitment to supply the energy by 2023. It is one of the newest and most efficient wind turbines on the market, with 65-metre-long blades. This project will help boost local employment, since it is estimated that Iberdrola will hire more than 1,200 employees to construct the facilities. Moreover, the turbines will be manufactured in the plant Siemens Gamesa has in Camaçari, in the state of Bahia. Thanks to all these new facilities, Neoenergia has nearly 1,000 MW between wind farms in operation and those under construction in Brazil, which is the Latin American country with the most wind power potential for the Iberdrola Group. Neoenergia, a giant in Latin America With the absorption of Elektro by Neoenergia, Iberdrola has brought about the creation of one of the largest electricity companies in Brazil and the birth of an energy leader in Latin America. It is a company committed to the energy, economic and social development of Brazil and the Brazilian people, present in 16 states throughout the country through the generation, transport, distribution and marketing of electricity. Neoenergia has around 13.6 million supply points, served by its four companies: Coelba, Celpe, Cosern and Elektro. Their concession area covers nearly 840,000 km2 and serves a population of more than 34 million people. READ MORE
