News
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07/05/2020Iberdrola acquires French renewables company Aalto Power for 100 million euros Iberdrola has signed an agreement for the acquisition of the French renewable energy company Aalto Power , owned by Aiolos and Caisse des Dépôts et Consignations, for 100 million euros. The company led by Ignacio Galán, which will make a record investment of 10 billion this year, is leading one of the first corporate operations in the European market since the start of the health crisis. Founded in 2005 and headquartered in Marseilles, Aalto Power already has 118 megawatts (MW) of onshore wind generation operating in France and has a portfolio of onshore wind projects in the country in different stages of development to add another 636 MW. The operation is part of Iberdrola's commitment to strengthening its presence and growth in renewable energy in France. In fact, the purchase of Aalto Power will not only bring Iberdrola its first operating megawatts on French soil, it will also bolster its plans in the area of renewable generation, thanks to the company's projects, its team of professionals and its experience in the development of this type of infrastructure. In France, Iberdrola is already developing the Saint-Brieuc offshore wind farm, having acquired 100% of the capital last March, which will involve an investment of approximately 2.5 billion euros. The 496 MW capacity of this complex, which will begin construction in 2021, will come into operation in 2023, generating enough clean energy to meet the electricity consumption of some 835,000 people. Located in Brittany, about 16 kilometres from the coast, the Saint-Brieuc wind farm will feature 62 Siemens Gamesa turbines, each with a nominal power of 8 MW, and extend over an area of 75 square kilometres. The turbines will have a total height of 207 metres. Iberdrola, continuing to grow in France The acquisition of Aalto Power is also intended to bolster Iberdrola's ambitious growth plans in the French electrical energy marketing sector, where it aims to have one million customers by 2023. In addition, the company does not rule out purchasing other companies in the French renewables sector in the coming months READ MORE
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07/05/2020Time is running out for young researchers to apply for Iberdrola grants relating to the energy of the future The call for Iberdrola research grant applications for the 2020-2021 academic year, which is managed through the company's foundation, is about to expire. With total funds worth 400,000 euros available, the registration process will end on 15 May. Fundación Iberdrola España will then choose up to 20 research projects related to renewable energy, environmental protection, the fight against climate change, and the efficiency of the energy system. With this initiative, the organisation seeks to promote research in areas such as energy and environmental sustainability, and, in particular, innovation in modern energy sources and the fight against climate change. The aim is to promote an energy transition capable of improving people's quality of life and providing development opportunities for communities. All those interested can consult the terms and conditions and complete the application form on the Fundación Iberdrola España website . The grants will be for a maximum amount of €20,000 per project and will last for a year. As well as candidates' academic qualifications and language ability, other factors such as their previous experience and references and the research project's area of interest will be taken into account when selecting successful candidates. Once this pre-selection stage is complete, the Foundation will interview candidates personally to assess their individual attributes, overall preparation and motivation. Applicants must have the backing of the team and centre at which they intend to undertake the research, which may be any university or research centre in Spain. Since 2011, Fundación Iberdrola España has set aside over €3m to fund the development of 180 researchers at prestigious universities and research centres. The energy system of the future - a top priority This time around, the projects must focus on the principle technologies associated with future energy systems, as characterised by decarbonisation and electrification. They must, therefore, consider the main technological innovations in areas such as: * Clean generation: photovoltaic technology, advanced wind generation technologies and other renewable energy sources. * Electricity networks and systems: transmission and distribution technologies, advanced technologies for energy storage and smart grids. * Customers and demand: management of demand and distributed energy resources. * New vectors for the electrification of the economy: electric vehicles and energy efficiency. * Cross-sector areas: digitalisation and new information technologies in the electricity sector, sustainable innovation in access to energy and in the fight against climate change to overcome poverty; the circular economy and recycling, environmental protection and biodiversity. Iberdrola, supporting excellence in training This new invitation to apply for research grants is part of Iberdrola's commitment to excellence in training, and its support for research as an optimum tool for generating knowledge and innovation to contribute to the development of a sustainable energy model. Fundación Iberdrola collaborates with grant programmes from other prestigious institutions such as the Fulbright Commission, which every year offers Iberdrola-Fulbright grants; the Carolina Foundation, with a programme for Mexican and Brazilian students; and the restoration workshops at the National Prado Museum and the Bilbao Museum of Fine Arts, which give future specialists the chance to complete their training on the conservation and restoration programmes run by these institutions. READ MORE
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06/05/2020Iberdrola Group, through Iberdrola Clientes, has made a million masks, medical gowns and protective goggles available to the state security forces and bodies Iberdrola Clientes, Iberdrola Group’s company in Spain, has provided the Ministry of the Interior with almost a million masks[1], 20,000 pairs of protective goggles and 5,390 medical gowns, which will be distributed among their units during the coming days. The company has proceeded in compliance with ministry guidelines. This new consignment is part of a global initiative run by the Iberdrola Group during the coronavirus health crisis, which includes procurement of essential medical equipment worth €30 million, weighing a total of 80 tons, harnessing its global access to supplies to benefit the government. The delivery of medical supplies, which took place on the Iberdrola Campus in San Agustín de Guadalix (Madrid), was witnessed by senior staff from Iberdrola Clientes, who handed the goods to the director of the National Centre for Infrastructure Protection and Cybersecurity of the Ministry, Fernando Sánchez; the commander of the Guardia Civil, Ana María Muñoz Rodríguez, and National Police Inspector, Leandro Gobierno López. Iberdrola group chairman Ignacio Galán sent a message of support and gratitude to the State security forces and bodies: “Just as they have always done, the National Police Force and the Civil Guard have made heroic efforts during this crisis, toiling on the front line to serve citizens and particularly healthcare professionals”. The medical supplies and preventive equipment were purchased in coordination with the authorities as part of Iberdrola’s global response to the COVID-19 outbreak, which includes employees, suppliers and the general public. Since the threat of the virus was detected, the Iberdrola group in Spain has launched more than 150 health and safety measures to protect the population, safeguard supplies and support essential facilities such as hospitals and health centres. With increased safety in place for employees in the field and 95% of office staff working from home, the company has also offered its customers payment facilities and free services for its vulnerable people. More investment and more jobs for a green recovery Once we have overcome this health crisis, Iberdrola is certain that the road to recovery must lie in the transition toward a decarbonised economy. In this regard, group chairman Ignacio Galán said that “the road to recovery must be a green road”. We have clear plans for this, both in Europe, with the European Green Deal, and in Spain, with the PNIEC (Integrated National Energy and Climate Plan). The measures adopted in recent weeks show that Iberdrola is fully committed to this task”. To achieve this, the company expects to speed up investment to a record 10bn euros in 2020 and will hire 5,000 new workers this year, who will join the 3,500 recruits who joined in 2019. Likewise, Iberdrola is prioritising the security of the supply chain. To do so, it has placed advance orders of up to 4bn euros from more than 10,000 suppliers, double the amount in 2019. Specifically, and according to the company's data, March was the busiest month in this regard, with orders worth almost 2.9 billion euros placed, almost 75% of the total for the quarter. At the same time, 24% of the total amount was allocated to suppliers based in Spain (more than 940 million euros). This volume of resources will mobilise projects, industrial activity throughout the value chain and innovation in areas such as renewable energy, smart grids and large-scale storage systems. In short, Iberdrola’s response to the COVID-19 crisis is “entirely consistent” with the model that it has been applying for decades, geared to sustainable value creation for shareholders, employees and society in general. [1] 50,000 FFP3, 48,530 FFP2 respiratory masks and 900,000 surgical masks. READ MORE
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29/04/2020an increase of 5.3%, thanks to record investments of nearly €10 billion since the beginning of 2019 Iberdrola obtained ordinary net profit of €968 million in the first quarter of the year, 5.3% more than in the same period of 2019. EBITDA increased in line with this, growing by 5.8% to €2.75 billion. These results were possible thanks to the record investments that Iberdrola carried out between the beginning of 2019 and the end of the first quarter of 2020, amounting to €9.88 billion. Of this amount, €1.73 billion was invested in the first three months of this year, representing an increase of 24.2% compared with last year. 91% of investments were in Renewables and Networks: €810.2 million and €765.9 million respectively. The group continued to move ahead with 8,500 megawatts (MW) of projects under construction worldwide. Between January and March alone the group installed 1,200 new MW, and in the last 12 months it has added 5,500 MW of installed capacity, reaching a total of 53,270 MW. At the same time cash flow increased by 3.7% to €2.11 billion. Early management of COVID-19 and measures to mitigate its effects Iberdrola is accelerating investments in order to drive the recovery of the economy and of employment. Iberdrola Chairman Ignacio Galán stated that “there is complete consensus that the road to economic recovery must be green, with the fight against climate change at its core. The European Green Deal and the National Energy and Climate Plans across the EU already provide a clear pathway. Iberdrola is fully prepared to help deliver these targets.” During the first quarter the company activated its global action plan to respond to the pandemic, focusing attention on employees, suppliers and society at large. In terms of jobs, Iberdrola maintains its forecast of hiring 5,000 new recruits in 2020. Safety measures for field personnel were strengthened, and 95% of office staff are working remotely, thanks to investments made in digitisation. Support for industry has also been maintained. As well as record investments, the supply chain benefited from the acceleration in procurement, which has amounted to €3.8 billion in the first quarter. The company also continues its work to reinforce the supply of electricity, particularly to essential facilities such as hospitals, and payment facilities have been made available to customers. Additionally, €30 million worth of urgently needed medical supplies has been donated, in coordination with the authorities. The impact of the pandemic will be largely cushioned by a number of factors. The strength of a business model based on networks and renewables, the continuity of business thanks to the additional measures put in place, the 8,500 MW of new capacity under construction, as well as further mitigation actions. Iberdrola also has solid financials, with a sound liquidity position, which at the end of the first quarter stood at €14.4 billion, enough to cover its financial needs for 30 months in a normal scenario. Its ability to access markets on the best terms was once again demonstrated with the recent issues of green bonds for €1.8 billion. Liberalised and Renewables offset downturn in Spain Total group EBITDA amounted to €2.75 billion for the quarter, 5.8% up on the same period last year. This result was driven by the Deregulated and Renewables businesses, which improved by 26.5% and 6.1% respectively to €759 million and €725 million in EBITDA terms. The Regulated business EBITDA fell by 4.7% to €1.25 billion, due to accounting adjustments in the U.S. and the lower remuneration in Spain in accordance with the regulatory framework in force. Specifically, EBITDA of Iberdrola España fell by 3% and net profit fell by 7%. Investments in the country increased by 51% compared with the first quarter of 2019, both in networks and in new renewable projects. Meanwhile mainland demand for electricity fell by 3.2% and wholesale market prices fell by 37%, in both cases being much affected by the state of alarm declared in respect of COVID-19. Reported net profit, which includes non-recurring items, reached €1.25 billion. This amount reflects the positive impact of the sale of the company’s 8.07% stake in Siemens Gamesa, which generated proceeds of € 1.1 billion and a capital gain of €484 million in the quarter. Iberdrola maintains the dividend and its profit outlook The Board of Directors of Iberdrola has approved the implementation of a new edition of ‘Iberdrola Flexible Remuneration’, after the General Shareholders’ Meeting, attended by 77% of shareholders, approved all the proposed resolutions with an average of 98% votes in favour. In this way the Company fulfils its commitment to its more than 600,000 shareholders, who will receive a complementary dividend of at least €0.232 gross per share. This amount, added to the €0.168 gross per share paid in February, gives a total shareholder return on 2019 of €0.40 gross per share. The company thus reaches the dividend floor initially set for 2022 three years in advance. Looking ahead to the rest of the year, the scheduled investments of €10 billion, the measures adopted in response to COVID-19 and the effect of the non-recurring income from the sale of Siemens Gamesa allow Iberdrola to maintain its forecast for the year. The company therefore expects to grow in terms of both net profit and dividend. Expansion of the certification of sustainable events In line with its commitment to boosting compliance with the UN Sustainable Development Goals (SDGs) , Iberdrola has extended its ISO 20121 certification for sustainable events beyond the General Shareholders' Meeting to include its Capital Markets Day and Earnings Presentations. Thus, it has become the first company certified by AENOR to extend the scope of its sustainable events management system to the Results Presentations. This recognition is proof that these events generate social and economic benefits for the community while reducing the events’ environmental impact. READ MORE
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29/04/2020Galán discusses Iberdrola’s results of the first quarter of 2020 on CNBC Iberdrola chairman Ignacio Galán spoke to Geoff Cutmore and Steve Sedgwick on CNBC´s Squawk Box program to discuss Iberdrola´s first quarter results. He highlighted: * The current situation in Spain in terms of managing the Covid-19 pandemic. * Business performance in the first quarter and growth of Ebitda and increasing investment * Measures put in place to support customers financially * Green recovery and the importance of investing in renewables READ MORE
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29/04/2020Galán presents on Bloomberg Iberdrola’s first quarter of 2020 results Iberdrola chairman Ignacio Galán spoke to Francine Lacqua and Tom Keene on Bloomberg TV’s Surveillance program to discuss Iberdrola´s first quarter results. Here are some of the main ideas he discussed: * The impact of the Covid-19 pandemic on energy demand and prices. * Oil prices and the outlook for renewable energy * The management of the pandemic in Spain and Iberdrola’s response READ MORE
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28/04/2020Iberdrola and union representatives agree on a back-to-work plan for employees Iberdrola and union representatives in the company have reached a unanimous agreement regarding the Back-to-Work Plan for the company’s employees in Spain to reduce the risk of exposure to COVID-19 during the health crisis. The measures established cover three areas: hygiene, personal protective equipment (PPE) and social distancing. In principle, the measures in the agreement, which are in addition to the 150 steps already taken, will be implemented on 11 May* in line with the government’s calendar and government guidelines. They are designed to safeguard two essential premises for the company: occupational health and safety for its people and the essential nature of the service it provides; doing its utmost to maintain a work-life balance as far as possible. The measures, which will be tailored to the specific conditions and regulations, will be adapted as the health crisis develops. Working from home, social distancing and protective equipment Among the measures included in the staggered back-to-work plan are to continue rotating working from home for more than 70% of staff and ensuring a two-metre safety separation between workstations. To achieve this, the company has designed a specific layout for each workplace. It will also continue supplying masks and other PPE to employees who need them for their jobs. The protective measures will apply to common areas, with non-essential services like canteens, cafeterias, etc., temporarily suspended. Screens will also be installed at customer service stations. Signage and recommendations Posters and signs will be displayed in all workplaces with information about basic rule for protection, warning employees to practice social distancing, recommending using the stairs, information about the use of lifts and general hygiene and protective instructions. Given the strategic, essential nature of the services that the company provides, the company will start testing staff with serological tests to check whether the virus is not present and the amount of antibodies in an initiative coordinated by Iberdrola’s Medical Service, which now has internal action protocols for dealing with COVID-19. The company will maintain and, if necessary, strengthen cleaning and disinfection measures that it implemented in its workplaces in early March, as well as restrictions on in-person meetings, visits from outsiders and travel. Before they return to work, Iberdrola will provide employees with a document containing self-protective measures they should take between leaving home and reaching the workstation and vice-versa, to minimise the risk of exposure to the virus. *The current date established for the end of the State of Alarm READ MORE
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27/04/2020The Spanish Football Federation and Iberdrola launch ‘GamHer’ as the first online women’s tournament with players from the Primera Iberdrola league to support the fight against COVID-19 The Spanish Football Federation – RFEF – is teaming up with Iberdrola to launch a charity challenge: GamHer, an online FIFA20 tournament that will involve the players in the Primera Iberdrola league clubs for the first time, enabling women's football to join the battle against COVID-19. This charity initiative will get the ball rolling with the match draw tomorrow, 29 April, aiming to fulfil a dual purpose: to make women's football more visible and help combat the coronavirus pandemic by raising money for Doctors of the World. All funds raised will go to providing infection prevention, control and mitigation systems for hospital staff and patients, which includes buying protective gear and implementing safe circuits in all hospital areas. The tournament will have a national stage and an international stage. Stage one will involve selecting the player who will represent Spain in the international stage, in which a match will be played between the Spanish team and a foreign team. The championship will be presented by sports journalist Rubén Martín, aided by some of Spain’s most famous YouTubers such as DjMariio. It will be available to watch on the Spanish Football Federation’s official digital channels (Twitch and YouTube ). The quarter and semi finals will be held on 1 May at 6 pm, with the national final set to take place at the same time on the evening of 3 May. Once over, the international stage will begin, bringing the top players representing the Spanish national team and the foreign national team up against each other on 8 May. As well as the prestigious Primera Iberdrola players, the tournament is also backed by Iberdrola’s sports ambassadors, who are going to be mentoring the players, supporting them and guiding them through. These elite sportswomen include Sandra Sánchez, María Vicente, Teresa Portela, Loida Zabala and many more. GamHer emerged with the aim of making women’s football and the Primera Iberdrola league more visible, in addition to encouraging players to train and explore new fields such as e-football. As this charity championship progresses, Iberdrola will be making donations as the main sponsor of the Women’s Absolute National Team, the Primera Iberdrola league, the Queen’s Cup and the Under-19s and Under-17s Teams: * Tournament Final prize: €50,000 * As well as €500 for every goal scored during the first matches * €1,000 per goal scored in the two finals: national and international Plus, throughout the event we will be encouraging companies and anyone wishing to support the Doctors of the World cause to make donations via the WORLDCOO platform https://bit.ly/donar_gamher . Iberdrola, committed to women in sport Iberdrola is the first company to make a global commitment to encouraging women’s participation in sport as a way of promoting equal opportunities – a pledge that reflects the basic values of the company. By getting behind women's sport, the company is helping to create new role models for society and encourage healthy habits at an early age. READ MORE
