News
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09/08/2022Green hydrogen plant to decarbonize UK's largest freight port The Iberdrola group is planning to build a large green hydrogen plant at the port of Felixtowe (England) which, with an investment of some €170 million (£150 million), will contribute to the decarbonisation of the largest freight port in the United Kingdom. The facility, which will be operational in 2026, will, in a first phase, have the capacity to produce 14,000 tonnes per year of renewable H2, which can be doubled in the future. The plant will supply hydrogen to vehicles and machinery used by the port and will be capable of fuelling up to 1,300 green hydrogen trucks. It will also be used to provide clean fuel for trains transporting goods to the port. It will also have the potential to be used for the production of green ammonia or ethanol, which could provide clean fuels for shipping and create opportunities for export to other international markets. The project - to be developed by ScottishPower , the group's UK subsidiary, together with Hutchison Ports - is expected to be located on brownfield land within the port, similar in size to a football pitch. The green hydrogen will be produced through an electrolyser that splits water into hydrogen and oxygen using electricity from renewable sources. The port of Felixtowe is located in the vicinity of the offshore wind farms that Iberdrola is developing in British North Sea waters. The company has already commissioned the 714 megawatt (MW) East Anglia ONE in this area and plans to build the East Anglia Hub offshore wind macro-complex, which will bring together three projects with a total installed capacity of 2,900 MW: East Anglia ONE North, East Anglia TWO and East Anglia THREE. Driver of major green hydrogen projects The Iberdrola group is currently promoting the main green hydrogen projects in the United Kingdom, to which the plant at the port of Felixtowe has now been added. In partnership with Storegga, the company will develop a project in Comarty, north of Inverness, which will enable the decarbonisation of distillery heating processes. In the first phase, which will come on stream from 2024, it will produce up to 4,000 tonnes per year, with the potential to expand to a total of 20,000 tonnes in the future. In addition, Iberdrola will install a green hydrogen plant at its Whitelee wind farm outside Glasgow, capable of generating 3,000 tonnes of H2 per year, which will come on stream in 2023 and will be able to supply enough emission-free hydrogen to power up to 550 buses a day to and from Glasgow and Edinburgh. The project is supported by the UK government, which has committed more than €11 million (£9.4 million) from the Department for Business, Energy and Industrial Strategy's (BEIS) energy innovation portfolio to its construction. In its commitment to driving the energy transition, the Iberdrola group is leading the development of green hydrogen with more than 60 projects in eight countries (Spain, United Kingdom, Brazil, United States, among others) to respond to the needs of decarbonisation. As it did with renewables 20 years ago, the company has once again pioneered the new technological challenge of producing and supplying green hydrogen. Iberdrola is thus at the forefront of this new renewable revolution, helping the hard-to-electrify industry to reduce its polluting emissions. The group currently has a portfolio of green hydrogen projects that will require investments of 9 billion euros by 2030, with the objective of developing 400,000 tonnes/year of green hydrogen. Among the projects promoted by the company, of note is the installation in Puertollano (Ciudad Real) of the largest green hydrogen plant for industrial use in Europe, capable of producing 3,000 tonnes of emission-free H2 per year, thanks to the use of renewable sources Scottishpower also supports decarbonisation through green hydrogen projects across the British Isles. READ MORE
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08/08/2022Iberdrola teams up with Minsait to detect fires in the vicinity of power lines Iberdrola, through i-DE's Global Smart Grids Innovation Hub (GSGIH) , and Minsait are joining forces to fight fires. The Indra subsidiary is developing a solution that will enable the early detection of fires in the vicinity of power lines and alert i-DE's Distribution Operation Centres, which will send the alarm to the Fire Brigade. To do this, it will use an algorithm capable of interpreting images from cameras installed on electricity pylons. The fight against deforestation and the conservation of natural areas is one of the objectives of Iberdrola, which is seeking solutions that enable the early detection of fires to reduce the environmental impact and the impact on electricity supply. With this initiative, it will implement preventive actions to minimise the impact on customers and disconnect the lines in the area to avoid greater damage. In addition, this project provides critical information to environmental agencies to identify the origin of the fire. The collaboration between Iberdrola and Minsait is part of the company's PERSEO start-up programme, which aims to facilitate access to the technologies of the future while fostering the development of a global ecosystem of start-ups in the electricity sector with a focus on sustainability. i-DE's GSGIH set a challenge earlier this year to find solutions for early detection of fires in protected areas close to power lines, with the aim of reducing the environmental impact, the extent of the fire and minimising the impact on the continuity of supply to customers Leading smart grids Iberdrola has more than 1.2 million kilometres of transmission and distribution power lines in the United States, Brazil, the United Kingdom, and Spain. This network consists of more than 4,500 high to medium voltage substations and more than 1.6 million medium to low voltage distribution transformers, built and operated to provide a high quality and reliable service to more than 32 million electricity supply points. In Spain alone, electricity lines cross 19,314 kilometres of protected areas, and there are 144 substations, 8,793 transformer stations, 31 reservoirs, and 14 wind farms in these types of locations. The areas where Iberdrola carries out its activities serve as habitats for a variety of wild flora and fauna that, in some cases, are even under some type of protection (biosphere reserves, natural parks). Iberdrola's commitment to the protection and conservation of natural areas is carried out in accordance with the principles established in its biodiversity policy, through its environmental management, action plans, and monitoring of restored and compensated habitats in accordance with the principle of positive conservation. Perseo, an example of commitment to start-ups Since its creation in 2008, PERSEO has invested more than 100 million euros in start-ups that develop innovative technologies and business models, focusing on those that improve the sustainability of the energy sector through further electrification and decarbonisation of the economy. The programme has focused its activities on analysing business opportunities and technological collaboration with start-ups and emerging companies around the world, analysing 300 companies each year and creating an ecosystem of almost 7,000 entrepreneurial companies. This investment instrument currently holds a portfolio of eight companies. Through PERSEO, Iberdrola carries out more than 25 real tests of technologies per year, which serve as a first step towards establishing a commercial relationship or partnership with start-ups. In addition, in the last two years the group has launched a total of fourteen challenges in which 700 start-ups have participated. In the case of initiatives related to grids, these are carried out in collaboration with the GSGIH, a global benchmark in smart grids, based on open collaboration and co-working between i-DE technicians, suppliers, start-ups and different organisations from all over the world. Beyond the financial contribution, PERSEO's support to these companies has been key in defining their product and business, offering them its knowledge and access to Iberdrola's market. On the other hand, the work carried out with the start-ups has served Iberdrola as a technological antenna to find out where their sector is heading. READ MORE
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04/08/2022Iberdrola will take control of the operation of Vineyard Wind I Iberdrola has reached an agreement to take over management of the assets and operation and maintenance of Vineyard Wind 1 , the first commercial-scale offshore project in the United States. The group is participating in the construction of this facility through a 50/50 joint venture between AVANGRID, its subsidiary in the country, and Copenhagen Infrastructure Partners (CIP). Under the agreement reached between the partners, the company will take control of the operational phase of the project and will assume responsibility for controlling the operation and management of the facility once construction is completed and commercial operation begins. Iberdrola's services for the project include operations management, supervision of tasks such as turbine, cable and substation maintenance, contractor coordination, 24/7 control centre services, marketing and asset management. With 800 megawatts (MW) of power, Vineyard Wind 1 will generate clean, renewable and affordable energy for more than 400,000 homes and businesses across the Commonwealth of Massachusetts and prevent the emission of more than 1.6 million tons of CO2 per year. Its construction will generate up to 3,600 full-time equivalent jobs. "Offshore wind represents a tremendous opportunity to advance America's ambitious climate goals, and the successful completion and operation of Vineyard Wind 1 will lay the foundation for continued industry growth for decades to come, including AVANGRID's robust 4.9-gigawatt project portfolio," said Pedro Azagra, CEO of AVANGRID. Under the agreement, Iberdrola will create a technically qualified team that will receive intensive training at the offshore wind farms the group already operates in the UK and Germany. "AVANGRID is proud to be a pioneer in the US offshore wind industry and, thanks to the Iberdrola group's global experience and a skilled and talented local workforce, we are well positioned to maximise the operation and performance of the landmark Vineyard Wind 1 project, a leader in the country," said Azagra. Vineyard Wind 1 is scheduled to begin supplying clean energy to Massachusetts in 2023 and to enter commercial operation in 2024. In addition to its stake in this project, AVANGRID owns 100% of Commonwealth Wind (1,200 MW in Massachusetts), Park City Wind (804 MW in Connecticut) and Kitty Hawk Wind (2,500 MW off the coast of North Carolina). In total, the group has a forecast of 5,000 MW of offshore wind energy on the east coast of the United States, enough to supply more than two million homes. Offshore wind power, key to Iberdrola's growth Just as the Iberdrola group pioneered the development of onshore wind power more than two decades ago, the company is now leading the development of this technology, one of the keys to the company's growth. Thus, of the 7,000 MW of wind power currently under construction or secured with PPAs, more than 5,500 MW (78.5%) correspond to offshore projects. Iberdrola already has three large offshore complexes in operation: East Anglia ONE and West of Duddon Sands in the United Kingdom (more than 1,100 MW together) and Wikinger (350 MW) in Germany. In the past year, Iberdrola has invested in new growth platforms in other countries such as Poland, Sweden, Ireland, Japan and Australia, increasing the size of the group's global offshore wind portfolio to 31,700 MW. READ MORE
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01/08/2022Iberdrola to supply green energy to RIU Hotels & Resorts' hotels and headquarters in Spain Iberdrola and RIU Hotels & Resorts have signed a long-term contract for the supply of green energy to the hotels and headquarters of the hotel company in Spain, which represent an annual consumption of approximately 70 gigawatt hours. The agreement, which came into force in August, will allow the hotel group to sustainably serve guests staying overnight in its more than 11,000 rooms in its 27 RIU hotels in Spain with 100% renewable energy, which will avoid the emission of 30,000 tons of CO2, equivalent to the capture of approximately 300,000 trees. In addition, Iberdrola and the RIU group are studying the possibility of extending this contract to establishments located in countries where both companies operate, such as other European countries and Mexico, for which the different international sections of the companies have already initiated preliminary contact. The Chief Procurement officer of RIU Hotels & Resorts, Bartolomé Enseñat, considers that this agreement "is a great step forward in our goal of having an increasingly sustainable operation. We are proud to be able to tell all our customers and colleagues that all the energy we use in Spain from now on has a renewable origin certified by the CNMC. Iberdrola has been the ideal partner to meet this goal and we hope that this is just the beginning, as our sustainability goals are ambitious”. For his part, Iberdrola's delegate in the Balearic Islands, Miquel Cardona, thanked the RIU group for "having selected the company's green energy to supply its customers in Spain in a more sustainable and environmentally committed way, and we hope to continue collaborating on different projects to go hand in hand and increase the electrification of its activity". Iberdrola with green energy as the basis for a sustainable economy Iberdrola committed 20 years ago to a sustainable growth strategy based on electrification. The company plans to invest €150 billion by 2030 in renewable energies, electricity grids and energy storage in order to remain at the forefront of the energy revolution. This pioneering commitment has enabled the Iberdrola group to become a global energy leader, with more than 38,300 MW of green power installed, of which 19,300 MW are in Spain (2,200 MW of which are solar). The company aims to achieve carbon neutrality by 2050 and to reduce its global emissions intensity to 50 gCO2 / kWh by 2030, having already reached an emissions intensity of 60gCO2 /kWh in Europe, thanks to its commitment to the energy transition and the Paris Agreement. RIU is committed to sustainability in its establishments The creation of the energy purchasing department is one of this year's achievements of RIU's Sustainability area and this agreement is its first major project. Working on the reduction of CO2 emissions is one of the main objectives of the chain, which is also working on other projects related to the circular economy, a very comprehensive commitment that involves the management and reuse of waste, as well as the positive impact on the local economy; the digitalisation of processes, which allows the reduction of paper use and the improvement of processes and working conditions, and sustainability certifications, which represent a global commitment of the hotel's operation. READ MORE
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31/07/2022Iberdrola to expand its renewable capacity in Poland with 98 MW of wind and solar projects Iberdrola has closed a preliminary agreement for the acquisition of 98 megawatts (MW) of wind and solar projects in Poland with Augusta Energy sp. z o.o., a joint venture between Greenvolt subsidiary V-ridium Power Group and asset manager KGAL. The transaction includes two wind farms with a combined capacity of 50 MW and six PV plants totalling 48 MW. All projects are currently under construction and are part of a 15-year PPA agreed with T-Mobile Polska, indexed to the consumer price index (CPI). The projects are expected to be commissioned in 2023. Iberdrola is expanding its presence in Poland, a key growth market for the company, and this transaction will increase its installed renewable capacity to 261 MW. The acquisition follows the purchase in 2021 of the operational wind farms Zopowy (30 MW) and Korytnica I (82.5 MW), and the Korytnica II wind project (50.5 MW), the construction of which Iberdrola started in June this year and whose operational phase will also start in 2023. Iberdrola is also developing several offshore wind technology projects in Poland and is participating in the Polish government's call for tenders for different areas of the Baltic Sea. The projects will be incorporated into the Baltic Sea Hub, the group's hub that will act as the epicentre of its renewable activity in Germany, Poland and Sweden. Iberdrola is a world leader in renewable energy, with an installed capacity of almost 39,000 MW, making its power generation fleet one of the cleanest in the energy sector. READ MORE
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28/07/2022Iberdrola and BP to collaborate to accelerate EV charging infrastructure and green hydrogen production Iberdrola and BP today announced their plan to form a strategic collaboration aiming to help accelerate the energy transition . Together, the companies intend to collaborate to significantly expand fast EV public charging infrastructure to support the adoption of electric vehicles, as well as to develop large scale green hydrogen production hubs in Spain, Portugal and the UK. The Chairman of Iberdrola, Ignacio Galán, has stated: “with BP, we intend to help advance in the decarbonization and energy self-sufficiency through the electrification of two key sectors of our economy, transport and industry. The scale of this challenge requires alliances between companies such as Iberdrola and BP, which have the technology and knowledge necessary to help accelerate Europe's industrial development and generate, at the same time, well-being and new opportunities for all through clean energy." Bernard Looney, CEO, bp: “Creating the lower carbon energy solutions that our customers want and need requires the integration of different technologies, capabilities and forms of energy. We can deliver this faster and at scale when we work in partnership with others. We have enormous respect for Iberdrola who have been an early leader in the energy transition - and are very excited about what we can deliver together.” "We expect the strategic agreement with Iberdrola to become a clear example of this: from renewables to large engineering projects, to customers and digitalization, we have the necessary complementary expertise and capabilities. Working together, we can offer innovative solutions that respond to the challenge of decarbonization at scale to accelerate the energy transition," added the head of bp. Accelerating EV fast charging Iberdrola and BP plan to form a joint venture that intends to invest up to €1 billion to roll-out a network of up to 11,000 rapid and ultra-fast[i] EV public charge points across Spain and Portugal, significantly expanding access to charging for consumer and fleet customers thus accelerating electric mobility. The plan includes installing and operating an initial 5,000 fast charge points by 2025, and up to a total of 11,000 by 2030, including Iberdrola’s existing fast charging hubs. The companies are also looking at options to jointly serve EV customers in the UK. Iberdrola offers comprehensive mobility services to cover the needs of electric vehicle users: residential, business and public charging, including solutions for urban and heavy transport (electrification of buses and trucks). Iberdrola leads the public charging infrastructure in Iberia with more than 2,500 points in operation and others under development, with renewable energy to decarbonize transport end-to-end. Through its app, any user can access more than 100,000 recharging points throughout Europe with a fully digital experience. It also has an extensive customer base (34 million customers worldwide). BP aims to rapidly expand its EV charge points globally and continues to invest in rapid and ultra-fast charging. Customers already have access to its European network of over 10,000 charge points, mainly in the UK and Germany. BP expects to use some of its extensive and conveniently located network of 1,300 retail sites in Spain and Portugal as locations for charging hubs for the joint venture. EV drivers would be able to charge in safe locations with access to additional convenience services. Integrated large scale green hydrogen production The companies also plan to form a joint venture for large-scale integrated green hydrogen production in Spain, Portugal and the UK, as well as production of derivatives such as green ammonia and methanol, which could be exported to Northern Europe. This strategic collaboration will combine Iberdrola’s world-class track record in renewables development and its global customer base, with BP’s experience in gas processing, trading and its global customer portfolio.The companies aim to jointly develop advantaged hydrogen production hubs in Spain, Portugal and the UK with total capacity of up to 600ktpa, integrated with new renewable power. The green hydrogen project at bp's Castellón refinery will be part of the agreement. The two companies, together with the Instituto Tecnológico de la Energía, have submitted the Castellón project to the Spanish government's hydrogen value chain PERTE call. Likewise, Iberdrola's industrial hydrogen projects under development, as well as new projects, will be part of the agreement.Based on this collaboration in Spain, Portugal and the UK, Iberdrola and bp intend to explore potential future opportunities for green hydrogen production in other geographies. Iberdrola and BP aim to finalize both joint venture agreements by end 2022, subject to regulatory approvals. READ MORE
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27/07/2022Iberdrola's net profit reached €2.07 Bn thanks to the international business Iberdrola continues to advance its role in the energy transition towards a more sustainable energy system that is less dependent on fossil fuels. Thanks to over €4.7 billion of investments in the first part of the year and its international business, and despite the drop in results in Spain, consolidated net profit grew to €2.075 billion in the first half of 2022 , driven by the good performance of international businesses, as reported today to the Spanish National Securities Market Commission (CNMV). Strong growth, mainly, in the United States, Brazil and the United Kingdom, as was the case in the previous quarter, offset the adverse result of Iberdrola Spain, where it recorded a 26% drop, including the effects of high energy prices which have not been passed on to customers with previously agreed fixed prices. Operating cash flow generated in the first half of the year across the group amounted to €5.56 billion, an increase of 31% over the same period of the previous year. Shareholders have obtained a remuneration from 2021 earnings of €0.449 per share, which is up by 6.4% from previous year. This was approved at the General Meeting held last month with a quorum of 72% where shareholders supported all the items on the agenda with an average favourable vote of 98%. Intense investment towards the energy transition The company has invested €4.74 billion in the first half of 2022, up 5%, totaling more than €10.2 billion over the past 12 months. Of this amount, 90% was allocated to renewables and smart grids to accelerate the energy transition in the countries and regions where it is present. The Chairman of Iberdrola, Ignacio Galán, said: "At Iberdrola, we continue to increase our investments to strengthen energy self-sufficiency and accelerate the green transition, reducing our dependence on fossil fuels. The projects we have underway in Spain and around the world are enabling us to generate economic activity and support 400,000 jobs at more than 19,000 suppliers." As a result of the investments already made, the group has installed 3,400 MW of new renewable capacity in the past 12 months – 1,241 solar photovoltaic, 996 MW onshore wind, almost 1,000 MW of hydroelectric storage and 116 MW of batteries – while strengthening its renewable energy leadership by almost 39,000 MW of green capacity worldwide. It also has a project pipeline of 95,000 MW, of which 10,800 MW are under construction or secured under long-term contracts. By country, Iberdrola has continued to promote its commitment to decarbonization in Spain, where it has allocated almost €1.1 billion of investment in the first half of the year, 23% of the total. It also invested €1.24 billion in the United States, €837 million in Brazil, €801 million in the United Kingdom, €153 million in Mexico and €619 million in the rest of the countries. In recent months, the company has strengthened its strategic plan with several new projects. In renewables, the company has been awarded 2,094 MW in the United Kingdom - 1,372 MW offshore, 396 MW of onshore wind and 326 MW of photovoltaic-, which will represent an investment of £3.7 billion – €4.4 billion . In networks, Iberdrola has accelerated growth in the United Kingdom, where the new distribution framework RIIO-ED2 will entail investments of £3.4 billion – about €4 billion – from next year to 2028, for a total of £6 billion – €7.1 billion – including investment in transmission networks. In addition, the company has been awarded 2,000 kilometers of new transmission lines in the latest auction held in Brazil, making a total of 8,000 km the transmission projects awarded over the past few years. These projects underpin the company's future growth, which will be described in greater detail at the next Capital Markets Day, to be held in November. Commitment to society In the current context, Iberdrola has once again demonstrated that growth is fully compatible with the generation of value for all its stakeholders. The company advocates a fair tax contribution in all of the countries where it operates. In 2021, its global tax bill surpassed €7.83 billion, 5% more than the previous year, a €361 million increase. Nearly half of this amount, €3.46 billion, corresponds to Spain. Iberdrola placed orders for €8.2 billion in the first half of the year with its more than 19,000 suppliers, thus giving visibility to a supply chain that generates 400,000 jobs worldwide. In addition, it has hired more than 2,100 people in the first six months of the year, exceeding 5,000 over the past 12 months. All this work is carried out in a company that promotes a fairer society, both within the company and in society as a whole. According to its Diversity and Inclusion Report, there is no salary gap at Iberdrola, employees of 79 nationalities of all races work at the company, and women now account for 34% of positions of responsibility. A context-resilient business model The company has once again strengthened its balance sheet with more than €8 billion of financing over the past six months – 77% of which is ESG (environmental, social and governance) – on favorable terms. The group is thus anticipating its financing needs for the year as a whole. In fact, in recent weeks, the company has signed a new sustainable credit line with 24 financial institutions for €2.5 billion at an historically low rate and has closed a new loan of €550 million with the EIB. The group has once again demonstrated its leadership in green and sustainable finance, with €43.8 billion available. It also has liquidity of €25 billion, enabling it to continue operating for the next 27 months without recourse to the market. The company improved its credit to net debt ratio to around 25%. Also, in an inflationary context, 75% of its debt is financed at a fixed rate and the group has managed to reduce its financing cost by 4 basis points to 2.86% at the end of June, excluding Neoenergia whose income is indexed to inflation. The Chairman stressed that Iberdrola is prepared to face the current macroeconomic context, as it has a sustainable business model, based on renewables, networks and storage. 90% of its production in Europe is emission-free, toalling only 55 grams of CO2 per KWh, much lower than its competitors’ average. Furthermore, it has insisted that it is not dependent on Russian gas nor oil. Performance during the first half and expectations for the second half of the year, allow Iberdrola to reaffirm its prospects of achieving a net profit of between €4 billion and €4.2 billion for the year as a whole. READ MORE
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27/07/2022Sandra Sánchez receives the Iberdrola Golden Handprint diploma from Ignacio Galán This morning, the karateka Sandra Sánchez was received at Iberdrola's facilities by the company's chairman, Ignacio Galán, who presented her with the Iberdrola Golden Handprint diploma in recognition of her sporting career. The athlete, who after winning gold at the World Games in Birmingham (USA) announced her retirement from competition, has stamped her handprints on a plaster cast, a souvenir that will be exhibited at the electricity company's offices in Madrid. Iberdrola thus wished to recognise the brilliant career of the best kata karateka of all time, while at the same time thanking her for her involvement in equal opportunities as an ambassador for the company, a drive that Galán highlighted for having contributed to creating female role models and serving as a model of perseverance, discipline and hard work, values that Iberdrola also carries with it. For her part, the Talaverana also thanked the company for its support and promotion of women's sport, highlighting the excellence of many women who, like her, have had to overcome obstacles to achieve their dreams. Promoted by Iberdrola since 2017 and ambassador for equality in sport, Sandra, with 60 consecutive medals, hangs up the karategi after winning the only medal she was missing, gold at the World Games. The karateka has won more than 80 medals, including gold at the World Games, gold at the Olympic Games, two World Championships and seven European Championships, and is in the Guinness Book of Records for the number of medals she has won on the world circuit. It was with his last medal, gold at the World Games, that she completed her medal haul and brought her career to an end after 40 years of dedication. Since 2016, Iberdrola has been a pioneer in promoting women's equality through sport in Spain, benefiting more than 600,000 women athletes through its support to 32 national sports federations, that is, 2 out of every 3 federated women. Since then, Iberdrola's initiatives have led to a 42% increase in the number of women's licences in the Federations supported and it has more than 100 competitions with their own name, including 32 leagues. READ MORE
