Noticias
-
02/08/2024 - 14:56 UTC +02:00Iberdrola acquires €5 billion valued Electricity North West in the UK Iberdrola has today signed an agreement to acquire 88% of Electricity North West (ENW) in the UK for an equity value of £2.1 billion (€2.5 billion). The deal values 100% of the company, including debt, at approximately €5 billion. This acquisition is consistent with Iberdrola's strategy to invest in electricity networks and in countries with a strong credit rating, such as the United Kingdom (AA credit rating). Since the merger with ScottishPower in 2007, the UK has been one of the leading investment destinations for the company, where it has invested around £30 billion (€36 billion) in that time. ScottishPower is the only 100% green integrated utility in the UK. With the completion of the deal, the UK becomes Iberdrola’s leading market by regulated asset base, which is valued at approximately €14 billion, followed by the United States at €13.3 billion. Ignacio Galán, Iberdrola’s executive chairman, said: "This transaction reinforces our commitment to investing significantly in electricity networks, which are a critical component for supporting the electrification and decarbonization of the economy. The agreement is also consistent with our strategy to invest in countries that have ambitious investment plans and stable and predictable regulations. As a result of this acquisition, our regulated networks asset base in the UK is now valued at €14 billion. When combined with the US, these two markets now represent two-thirds of our total global regulated asset base.” Geographically, ENW is located between the two existing ScottishPower networks license areas, in central and southern Scotland and Merseyside and North Wales. ENW distributes electricity to almost five million people in the North West of England, in locations such as Manchester, Lancaster and Barrow, and has approximately 60,000 km of electricity distribution networks. The acquisition accelerates Iberdrola's commitment to grow its electricity networks business, with the company now becoming the second largest electricity network operator in the UK. Iberdrola will now distribute electricity to around 12 million people in the UK, across a network which will span more than 170,000 kilometers. In addition, Iberdrola will employ more than 8,500 people in the country. Iberdrola and a consortium of investors from Japan, led by Kansai, which will retain 12% of ENW's capital, have signed a shareholders' agreement to collaborate on a long-term basis. The acquisition is subject to the standard authorizations for this type of transaction. A growth story in the UK The merger between ScottishPower and Iberdrola in 2007 was part of the company’s long-term strategy to become a world leader in the global energy market. ScottishPower is the only vertically integrated energy company in the market. As well as being a major investor in renewable energy, ScottishPower owns and operates the transmission and distribution networks in south-central Scotland and the distribution network in Merseyside, North Wales and Cheshire. It is also one of the largest energy suppliers in the country, with 4.2 million customers. Currently, Iberdrola operates more than 111,400 km of installed power lines in the country, with 40 onshore wind farms and two offshore wind farms in operation. The total capacity of renewables in operation in the UK exceeds 3,000 MW, enough to power the equivalent of more than two million homes, free of emissions. As part of its growth plans, the company is building the East Anglia Three offshore wind farm, the second largest in the world, with a total capacity of 1,400 MW. READ MORE
-
01/08/2024 - 16:11 UTC +02:00Iberdrola, ICO, Sabadell and HSBC sign a EUR 500 million syndicated green loan with Cesce coverage Iberdrola, ICO, Sabadell and HSBC have signed a syndicated green loan for an amount of 500 million euros, which is covered by Cesce through its Green Investment Policy on behalf of the State, which is guaranteed by the Internationalisation Risk Reserve Fund (FRRI), attached to the Ministry of Economy, Trade and Enterprise. The green loan, which has a 15-year maturity, will strengthen Iberdrola's diversification of financing sources. This is the first loan aimed at promoting renewable energy projects that the ICO will finance with Next Generation funds in the second phase of the Recovery Plan. The operation is part of the ICO-Verde programme, which was activated with the signing of the agreement between the Ministry of Economy, Trade and Enterprise and the ICO. The funds from the operation will be used to finance renewable wind and photovoltaic projects, as well as battery projects in the United States, Australia and Italy. The total renewable capacity financed will reach 897 MW and is expected to be operational between 2025 and 2026. The total amount of Iberdrola's loans under the coverage of Export Credit Agencies (ECAs) is 2,500 million euros. These entities exclusively manage credit and investment insurance on behalf of the states, covering political, commercial, and extraordinary risks associated with internationalisation. This loan contributes to diversifying Iberdrola's financing, which is able to combine various sources: capital markets, financial institutions, development banks such as the World Bank or the European Investment Bank (EIB) and state agencies for the promotion of exports that reduce or eliminate the risk of operations. In this case, HSBC has been the coordinating bank for the operation. Cesce, in its role as the Spanish Export Credit Agency (ECA), exclusively manages credit and investment insurance on behalf of the State, thus covering the political, commercial and extraordinary risks associated with the internationalisation of Spanish companies. Its Green Investment Policy, in particular, covers the risks of credits granted to Spanish companies or their foreign subsidiaries for the financing of projects abroad that are considered green, as they comply with the requirements of the EU Taxonomy or Annex I of the OECD Consensus. International confidence Banking confidence in Iberdrola is constant. Last month, Iberdrola diversified its financing with a CHF 335 million green bond placement. In addition, in March it signed a EUR 700 million green loan with the European Investment Bank for the expansion of electricity grids in Spain and in January Iberdrola and the World Bank extended their alliance with a EUR 300 million green loan for renewable projects in emerging countries. In the same month, it issued 700 million in hybrid bonds , thus keeping the company's hybrid volume stable at 8.25 billion euros. The funds obtained were used to refinance the renewable assets that had been financed with the hybrid bond issued in 2018, which was replaced with this operation. At the end of December, the company signed its largest credit line in history for 5.3 billion euros with 33 international banks. The cost of this operation was at the most competitive levels for Iberdrola, with prices similar to those of 2019, and the operation was oversubscribed by more than 40%, demonstrating the strong commitment of the banks to Europe's leading utility by capitalisation and the second largest in the world. Global leader in sustainable and green finance Iberdrola has established itself as a global benchmark in sustainable financing , being the first private group in the world to issue green bonds, after becoming in 2014 the first Spanish company to issue a bond of these characteristics. The group currently has more than 22,000 million euros of green bonds outstanding. In the banking market, in 2016, the company also signed the first green loan for an energy company, in the amount of 500 million euros. That operation was followed by various loans and credit lines linked to sustainability criteria. This financial strategy complements and strengthens the historic investment plan launched by the company in March 2024, in which it announced the investment of 41 billion euros between 2024 and 2026. The plan aims to drive the electrification of the economy, with a strong boost to electricity grids and renewables. READ MORE
-
31/07/2024 - 09:00 UTC +02:00Iberdrola receives approval for El Escudo wind farm construction in Spain Iberdrola has been given the green light to proceed with preliminary construction work on a wind farm in Cantabria (northern Spain), after the developer Biocantaber − in which Iberdrola España has a stake − obtained the building permit to begin construction. The El Escudo wind farm, which will have a capacity of 101 MW, will generate renewable energy , equivalent to the annual consumption of 95,300 homes, and avoid the emission of 45,000 tonnes of CO2 per year. It is also the first farm in Spain to apply BIM (Building Information Modelling) technology, a methodology that allows detailed control of the execution of works and, among other aspects, the application of measures to reduce the impact. To read the full story visit Iberdrola España Press Room . READ MORE
-
30/07/2024 - 13:30 UTC +02:00Ignacio Galán visits Windar Renovables facilities at Port of Avilés Ignacio Galán visited Windar Renovables facilities in the Port of Avilés accompanied by Orlando Alonso, Head of the shipyard, the loading point for large onshore and offshore wind energy structures. During the visit, the representatives of both companies took the opportunity to see the loading status of the last five structures, out of a total of 62, that were leaving for the Vineyard Wind I offshore wind farm that Iberdrola is building in US waters. The contract, which has created around 800 jobs, represents a significant milestone in the trajectory of the collaboration between the two companies − confirming their ability to become a global supplier for offshore wind. The Vineyard Wind I wind farm , located in US waters, will have a capacity of 800mMW when completed and will produce enough clean energy to power half a million homes. In addition to this project, Iberdrola and Windar Renovables collaboration continues manufacturing 95 transition pieces for its East Anglia Three offshore wind farm, which will also be manufactured at Windar's facilities in Avilés. READ MORE
-
28/07/2024 - 11:22 UTC +02:00Iberdrola champions women's sport in Paris The Games have kicked off in Paris and have done so with an unprecedented milestone: they will be the first to achieve gender parity. Thus, 50% of the 10,500 athletes competing in the French capital from 26 July to 11 August will be women. This is an achievement in which Iberdrola has played a part − supporting two of the main committees , the Spanish and Brazilian. In both cases, this will be the first edition ever with more women than men. For instance, the Spanish team will have 192 female athletes, 50.3% of the total; and 190 men, 49.7%, while in the Brazilian team the proportion is 153 women, 55.4%; and 123 men, 44.6%. The Group has played a key role in the all-time records presented by Spain and Brazil at the Paris event through the implementation of numerous equality policies , in which promoting women's sport is one of their key drivers. In Spain, 24 of the 35 national federations supported by Iberdrola will participate in Paris, contributing 173 athletes, 90.1% of the total. In addition, 20 of the 35 members of the Iberdrola Ambassadors programme will be part of the Spanish team. Through this programme, the company aims to inspire and give visibility to the over 800,000 federated sportswomen who make up the 35 federations it currently supports. Neoenergia signs agreement with the Brazilian Olympic Committee In Brazil, Neoenergia has just signed an agreement until 2025 with the Brazilian Olympic Committee (COB) to become one of its main supporters in terms of gender equality and sustainability, benefiting athletes from multiple sports. With this, Iberdrola's subsidiary is furthering its commitment to strengthening women's sport in the South American country, which began with the sponsorship of the Brazilian national football team and the national club championship − Brasileirão Feminino Neoenergia. Through this partnership, Neoenergia, a benchmark in Brazil's energy transition, will support the COB in its decarbonisation goals, providing the sports body with energy solutions and implementing sustainability actions that will reduce CO2 emissions from its Centro de Entrenamiento Time Brasil (Time Brazil Training Centre), located in Rio de Janeiro. Global commitment to promoting equality through sport Brazil and Spain are not the only examples of the global and pioneering commitment to women's sport that Iberdrola began in 2016. In Scotland, its subsidiary ScottishPower is the main sponsor of Scottish Women's Football (SWF) and the Scottish league, as well as sponsor of the Scottish Youth Challenge Cups, in all three age groups, and of the Scottish Women's Highlands and Islands League. As part of its commitment to equity and inclusion, Iberdrola Mexico has launched the DestElla programme in Mexico to promote women’s growth and empowerment through sport. In this first phase, DestElla will promote the women's branch of the Mexican Rugby Federation. In Portugal, the company will be the main driver of all senior women's football until 2027, following the recent agreement reached with the Portuguese Football Federation (FPF) to sponsor the Portuguese national team and the FPF's club competitions: the BPI League, Portuguese Cup, Super Cup and League Cup. READ MORE
-
24/07/2024 - 08:17 UTC +02:00Record investments of €5.28 Bn (+16%) and strong operational performance drive H1 reported net profit of €4.13 Bn Commenting on the results, Ignacio Galán, Executive Chairman of Iberdrola, said: “Record renewables production and robust performance in our networks business has helped to deliver a strong set of results for the first half of 2024. We have also invested more than ever before in the first 6 months which will drive benefits in the second half of the year, in terms of new renewables capacity and a higher rate base in networks. This allows us to increase our profit guidance for the year. “We are making good progress on delivering against the targets in our business plan to 2026. On top of this, we also expect further medium-to-long-term growth opportunities to crystallize in the second half of the year, in our networks and storage business areas, as well as new opportunities to support the expansion of data centres.” READ MORE
-
19/07/2024 - 12:07 UTC +02:00Iberdrola increases its renewable production in Portugal with two new photovoltaic plants The Montechoro I and II PV plants, located in the Algarve region of southern Portugal, have been completed and now contribute to the country's renewable energy production capacity. With a total installed capacity of 37 megawatts (MW) and a total annual production capacity of 56.84 GWh, the projects were awarded to Iberdrola in an auction in 2019. More than 64,554 bifacial panels will generate enough energy to supply around 19,000 households, avoiding the emission of more than 21,000 tonnes of CO2 per year. With a total investment of €30 million, the installation of these plants have created around 200 jobs in the region and contributed to promoting the local economy by contracting suppliers for constructing of the grid connection and the substation. Alejandra Reyna, CEO of Iberdrola Renovables Portugal, said: ‘The completion of two additional photovoltaic plants represents an important milestone on the path towards decarbonising the economy, reinforcing the renewable energy production capacity in Portugal and contributing to socio-economic development, in line with national and global objectives to reduce emissions and promote energy autonomy’. In addition, Iberdrola continues to reinforce its commitment to protecting biodiversity, providing environmental conservation measures in the construction of these plants. Advancing the energy transition Iberdrola will continue to invest in the expansion of its production portfolio in Portugal, supporting the energy transition, improving energy security and competitiveness and creating sustainable employment throughout the value chain. Iberdrola has a portfolio of projects in operation with an installed capacity of 1,435 MW: the three Hydroelectric Power Plants (1. 158 MW) of the Tâmega Generation System, which in the future will be integrated into the largest wind farm in the country (274 MW), and which will be the largest hybridisation project in Portugal; the three wind farms (92 MW) of Catefica (18 MW), Alto do Monção (32 MW) and Serra do Alvão (42 MW); and a series of photovoltaic plants (185 MW), from the 2019 Auction, of which Iberdrola was the largest successful bidder in number and lots - Algeruz II, in Setúbal (27 MW), Conde, in Palmela (14 MW), Alcochete I and II (46 MW) and now Montechoro I (12 MW) and II (25 MW). The last of the seven lots is scheduled for completion by the end of 2024: the Carregado Photovoltaic Power Plant (62 MW). Environmental commitment In the area of environmental preservation projects, one of the highlights is the preservation of the Gruta Pequena do Escarpão, a cavity of geological interest located in the area around the Montechoro II photovoltaic plant. It is planned to support educational visits in the future to learn about local geology, clean energy generation and environmental benefits. Iberdrola has also invested in creating habitats and winter refuges for reptiles, mammals, amphibians and birds, in planting trees adapted to the area, such as strawberry, olive and carob trees, and in transplanting RELAPE (Rare, Endemic, Localised, Threatened or Endangered) species, such as ‘Narcissus bolbocodium’. Iberdrola has also planned the compensation and maintenance of 7.4 hectares of the 5330 habitat (pre-desert thermo-mediterranean scrubland) in the municipality of Albufeira, in the Algarve, as well as forest management to comply with the Albufeira Municipal Forest Fire Defence Plan, safeguarding and protecting infrastructures from rural fires. READ MORE
-
18/07/2024 - 13:01 UTC +02:00Iberdrola, Broseta and the Adecco and Prodis foundations will collaborate in a project aimed at people with intellectual disabilities Iberdrola has launched, through its Legal and Tax Services and together with the law firm Broseta, a collaboration agreement for pro bono activities with Fundación Adecco and Fundación Prodis to reduce barriers to access to the labour market for people with intellectual disabilities. This collaboration is part of the "Construyendo Juntos" ("Building Together") project, a multidisciplinary programme in which the company's legal professionals, in collaboration with over 10 law firms, provide training services and legal and tax advice of the highest quality to non-profit organisations. The signing ceremony, which took place at Iberdrola's offices in Valencia, was attended by Santiago Martínez Garrido, Iberdrola's General Secretary and Secretary of the Board; Rosa Vidal Monferrer, Managing Partner of Broseta; Valle Oñate Dancausa, Managing Director of Prodis; and Arancha Jiménez Ceballos, Director of Strategy, Fundraising and Development of the Fundación Adecco. According to Iberdrola's General Secretary, thanks to this agreement, ‘Broseta and Iberdrola's legal professionals intend that the legal knowledge transmitted through this alliance will act as a lever to reduce inequalities and in favour of the labour inclusion of people with disabilities, as well as the informed guidance of both their families and the entities that support them’. According to Broseta's Managing Partner, this alliance ‘represents a very interesting opportunity for pro bono work, a practice to which Broseta feels very committed, as well as the satisfaction of working together with Iberdrola, one of the firm's reference clients, and with the Fundación Prodis and the Fundación Adecco - with which we have been collaborating regularly on various pro bono initiatives’. The Director General of Fundación Prodis highlighted the importance of this type of alliance, that is ‘key for organisations such as Prodis, which allows us to continue supporting people with disabilities and their families - who are often uninformed. Encouraging clear, simple and reliable communication from experts such as Iberdrola's legal services and the Broseta law firm is an immense opportunity, which will undoubtedly facilitate access to the labour market for our users’. Director of Strategy of Fundación Adecco emphasised that they are ‘deeply grateful to the legal terms of Iberdrola and Broseta, who so generously put their knowledge at the service of the people who need it most. Through this collaboration we are going to respond to one of the major barriers that have traditionally hindered access to employment for people with intellectual disabilities - lack of knowledge of the legal framework, which triggers fears in both themselves and their families’. ‘After 25 years working for inclusion, we can see that when a person with an intellectual disabilities knows and understands their employment rights, they face the job search process with much greater confidence, knowing that they have the necessary resources to face the challenges and/or difficulties that may arise. Similarly, the training of families, entities and, in general, of those who accompany people with intellectual disabilities, is also decisive to support and guide, ensuring that people with disabilities can develop a fair and sustainable professional career over time’ added the representative of the Fundación Adecco. A major challenge People with intellectual disabilities continue to face major obstacles in finding a job, as the latest official figures show. In particular, their activity or labour participation rate (36.4%) is 41.4 percentage points lower than that of the rest of the population - 63.6% of people with intellectual disabilities of working age are neither employed nor looking for a job Likewise, the employment rate is another major indicator of this inequality: only 23.8% of people with intellectual disabilities are in employment, a percentage that is 27.3 points lower than the national average. Legal knowledge: key to labour market inclusion Behind these figures lie structural barriers that hinder access to employment for people with disabilities: prejudice, overprotection, lack of previous experience and a general lack of knowledge that slows down the process of inclusion. In this sense, training in the legal field is essential, not only to protect and guarantee the rights of people with intellectual disabilities, but also to open the doors to the labour market, providing them with the necessary tools to access opportunities and develop sustainable professional careers. Furthermore, it is also important to provide specific legal knowledge to the entities and those accompanying people with intellectual disabilities in their work pathway, so that they can serve as a guide and support in the most relevant legal aspects. The alliance aims to provide people with intellectual disabilities, their families and the entities that accompany them, with the legal knowledge necessary to deal conscientously with their access to employment, enabling them to make informed decisions and prevent abuse or discrimination. READ MORE
