Noticias
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28/06/2024 - 15:00 UTC +02:00Iberdrola, double prize-winner at the 9th Expansión Jurídico Awards For the third consecutive year, Iberdrola's Legal Services have won an Expansión Jurídico Award for Excellence in the Practice of Business Law. And, once again, in the category of Most Innovative Project. Furthermore, this year the company also received an award for the Best Transaction for the sale of 55% of Iberdrola's business in Mexico to Mexico Infrastructure Partners. A total of 111 law firms and legal consultancies of large companies competed in the ninth edition of these awards, which have become the benchmark of the legal sector in Spain and which, on this occasion, have reached a record level of participation. READ MORE
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28/06/2024 - 15:00 UTC +02:00Vineyard Wind 1 becomes the largest operating offshore wind farm in the US Iberdrola, through its US subsidiary Avangrid, has commissioned 10 wind turbines that already generate 136 MW to the grid in the US region of New England. The facility already supplies enough clean energy to power more than 64,000 homes and businesses in Massachusetts. Thus, the new renewable facility is now officially the largest operating offshore wind farm in the United States. You can read the full story in the Avangrid Press room . READ MORE
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28/06/2024 - 10:00 UTC +02:00Iberdrola hits new milestone in offshore wind as it enters the delivery phase of €1 billion Windanker Iberdrola’s record global offshore wind drive continues to move forward at pace as the company has announced that the €1 billion Windanker project in Germany has advanced to the delivery phase. All supply chain contracts for major components are now locked-in for the 315-megawatt (MW) project and fabrication work is set to get underway next month (July 2024). The Windanker project will support more than 1200 jobs in construction, working with 130 different suppliers located across 22 countries. A total of 20 vessels will be involved in delivering the project. As a leader in offshore innovation, Iberdrola has selected to use 21 next-generation offshore wind turbines, each with an output of around 15 megawatts (MW) – amongst the most powerful available on the market. In a record year for Iberdrola’s offshore wind activity , the company has recently fully energised the 496 MW Saint-Brieuc project in France and achieved first power generation at both the 804 MW Vineyard Wind 1 project in the US (the country’s first large-scale offshore wind project), and the 476 MW Baltic Eagle project, also in Germany. Beyond this, Iberdrola has started the construction of the East Anglia THREE offshore project in the UK – the company’s largest ever wind energy project globally with a capacity of 1,400 MW. Of the €15.5 billion to be invested in renewables as part of Iberdrola’s strategic plan up to the end of 2026 , around €8.4 billion (54% of the total) is being committed to offshore wind. This will help the company to grow its offshore wind capacity by more than 160% in just three years, from 1,800 MW in 2023 to 4,800 MW in 2026. Windanker will be fully commissioned in 2026, with 100% of its generation already sold to industrial and commercial customers through long-term power purchase agreements (PPAs). It will produce enough clean energy to meet the equivalent demands of 315,000 households per year while reducing CO2 emissions by approximately 500,000 tonnes per year. Ignacio Galán, Executive Chairman of Iberdrola, said: “This positive progress on Windanker is another pleasing milestone for Iberdrola in our most active year ever for delivering offshore wind. In 2024 we have been constructing major projects in four countries, including two now active in Germany, with billions of euros being invested to support thousands of jobs across hundreds of suppliers in dozens of countries. “Offshore wind is a key technology for our clean energy growth in the years ahead, with all capacity from these projects secured via long-term PPA contracts or supported by government mechanisms. All our construction activity across the world is progressing well, and we look forward to adding Windanker to our portfolio of operational projects by the end of 2026.” Windanker is one of three large-scale projects in Germany that will form part of Iberdrola’s “Baltic Hub”. The company already operates the 350 MW Wikinger wind farm and is finishing the construction of the 467 MW Baltic Eagle projec t (a joint venture with Masdar), which will be completed in 2024. Together, these offshore wind farms will have a total capacity of more than 1.1 GW in 2026, with combined investment of around €3.7 billion. READ MORE
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26/06/2024 - 11:43 UTC +02:00Iberdrola receives the EDGE international certificate − the leading certification standard for Diversity, Equity and Inclusion Iberdrola has received EDGE (Equity, Diversity, and Gender Equality) certification − leading global assessment methodology that assesses and certifies companies and institutions for their efforts to promote gender equality in the workplace. Among the institutions certified by EDGE are the United Nations, the OECD and the World Bank. To obtain this certification, an independent external assessment was carried out in which the policies and practices of the Group's companies were comprehensively reviewed, statistical data were analysed and employee perception surveys were conducted. Iberdrola has received the second level of certification (EDGE Move), which shows that the organisation has not only made a commitment to gender equality, but has also taken concrete steps to transform this commitment into action. It also highlights that equitable practices have been sustainably integrated into the organisation and represent a key strategic area for its future success. It is unusual for a company to obtain this second level in its first year applying to get this certification. In addition, Iberdrola is committed to achieving the highest EDGEplus certification in 2026, which also values commitment to diversity of gender, ethnicity, sexual identity/orientation, age, disability and nationality. Iberdrola is one of the 3 energy companies in the world that currently have this certification and, in Spain, it is the only company in the sector that has it. Since the launch of this certification at the World Economic Forum in 2011, only 750 companies in 61 countries have received this seal. Iberdrola’s Executive Chairman Ignacio S. Galán stressed that "receiving this certification is further proof of our commitment to equality, diversity and inclusion, which we have been promoting for decades among our over 40,000 employees; and also outside the Company through initiatives such as promoting women's sports. In the last 20 years, we have doubled the percentage of women in our workforce, we have more than 90 nationalities among our employees and our goal is to continue to advance along this path to contribute to a more inclusive and diverse world and, therefore, a fairer world for everyone". Iberdrola's commitment to equality, diversity and inclusion Iberdrola has been deepening its commitment to diversity and inclusion in its broadest sense for years. Only in the last year, the Company increased the presence of women in the team by 8%, and the percentage of women in positions of responsibility has now reached 34.5% − a figure that practically meets the 2025 target. In the last 20 years, Iberdrola has doubled the percentage of women in the workforce. In terms of diversity, the Company now has professionals of 93 different nationalities in the Group and has made progress in generational balance thanks to promoting and developing youth employment. Iberdrola has a Global Committee and local Diversity and Inclusion committees, which ensure that all initiatives are deployed in accordance with the particularities and specific needs of each territory. Among other awards in this area, Iberdrola has been selected for the sixth consecutive year to form part of the Bloomberg Gender Equality Index, and Forbes has placed the Company among the ten top companies in the world in terms of inclusion of women as part of its World's Top Female Friendly Companies index. READ MORE
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26/06/2024 - 09:00 UTC +02:00Iberdrola launches DestElla to empower women through sport in Mexico Iberdrola, through its subsidiary in Mexico, Iberdrola Mexico, has presented DestElla, a programme that seeks to promote the growth and empowerment of women through sport, as part of its commitment to equity and inclusion. "We are proud to present DestElla, an initiative that seeks to empower women and be an engine of change to move towards a fairer and more equitable world, where everyone can develop their full potential in different areas of life," said Katya Somohano, general manager of Iberdrola Mexico. DestElla aims to increase girls' and young women's in sporting activities organised in schools and universities, improve female players' community by donating sports equipment and training gear, access to gyms, and to support high-performance athletes with resources for accommodation and living expenses at pre-competition training camps. Iberdrola Mexico has other social programmes dedicated to women, such as Impulso STEM, which promotes learning scientific and technological careers, and ComunidadEs Igualdad, an initiative that aims to eliminate gender violence and reduce inequality gaps by raising awareness of human rights. You can read the full story in the Iberdrola Mexico Press Room page. READ MORE
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25/06/2024 - 16:52 UTC +02:00Iberdrola diversifies its financing sources in the debt capital markets with a public green bond for 335 million Swiss francs Iberdrola, Europe's leading electricity company by market cap (circa €80 billion), has today issued a green bond for 335 million Swiss francs (€350 million) in two tranches, diversifying its sources of financing. The first tranche for 145 million Swiss francs was placed over four years with an interest rate of 1.38%, and the second tranche was for 190 million Swiss francs over seven years with a rate of 1.56% (equivalent to an average of 3.5% across both tranches converted to euros). High demand made it possible to narrow the cost levels below the lower ranges anticipated at the beginning of the operation. The spread for the four-year tranche tightened to 47 basis points in the final review (Initial Price Thoughts were at 50-55 basis points) and 62 basis-points for the seven-year tranche (from 65-70 basis points initially). The transaction was carried out following the recent interest rate cut by the Swiss Central Bank. It is the first Swiss franc deal from Iberdrola since 2012, and the first green bond placement in the Swiss market. The demand and final conditions demonstrate strong confidence in Iberdrola and its business strategy and outlook. The company will invest €41 billion between 2024 and 2026, including €21 billion in electricity grids and €15.5 billion in renewables. The funds of this transaction will be used to finance green projects that meet the eligibility criteria established by Iberdrola's Framework for Green Financing. The coordinating banks for the issuance were UBS and Deutsche Bank. Iberdrola has established itself as a global benchmark in sustainable financing. It was the first private group in the world to issue green bonds, and the group currently has more than €21 billion of outstanding green bonds. International financing Investor confidence in Iberdrola has been consistent. Last January, Iberdrola issued €700 million in hybrid bonds, keeping the company's volume of hybrids stable at €8.25 billion. The funds obtained were used to refinance renewables. 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 competitive levels for Iberdrola, with prices similar to those in 2019 and the operation was oversubscribed by more than 40%. In addition, Iberdrola expanded its partnership with the partnership with the World Bank with a 300 million green loan for renewable projects in countries dependent on fossil fuels such as coal, including Morocco, Poland and Vietnam. READ MORE
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24/06/2024 - 15:00 UTC +02:00Brazil's Minister of Energy meets Ignacio Galán and visits Iberdrola's green hydrogen plant Brazil’s Minister of Mines and Energy, Alexandre Silveira, held a working meeting, at Iberdrola's offices today in Madrid, with Ignacio Galán, the Company’s Executive Chairman . During the meeting, they discussed the main current issues in the sector, especially in Brazil. During his trip to Spain, the Minister also visited Iberdrola's green hydrogen plant in Puertollano − the largest plant of this technology for industrial use in Europe. During the tour, the Company explained how green hydrogen can be a key enabler for accelerating the energy transition when it comes to energy uses that are difficult to electrify. Neoenergia currently has a green hydrogen research and development (R&D) project, overseen by the National Electric Energy Agency (Aneel), for implementing a pioneering green hydrogen plant in Brazil. The plant is under construction in Brasilia and is expected to be launched next year. The unit will be powered by a 150kWp photovoltaic plant, and will help in the decarbonisation process of segments that are still difficult to reduce CO2 emissions, such as transport. This project will be one of the first green hydrogen supply points in the country for supplying buses and light vehicles. Furthermore, Neoenergia has five cooperation agreements with governments and companies for low-carbon green hydrogen projects in Rio Grande do Norte, Ceará, Pernambuco, Rio Grande do Sul and Rio de Janeiro. In addition, this Iberdrola's subsidiary has specific projects, at an advanced stage of maturity, which could involve over R$500 million in investments. The visit comes just days after the Brazilian government approved a decree regulating the early extension of electricity distribution concessions for 30 years. In accordance with its 2024-26 plan , Iberdrola will allocate a total of €4.5 billion to Networks in Brazil over the next three years. Eduardo Capelastegui, the CEO of Neoenergia, Iberdrola's subsidiary in Brazil, also attended the meeting and reinforced the Company's interest in investing in green hydrogen and derivatives in Brazil. The Company is confident that the recent approval of PL 2.308/2023 in the Federal Senate, which establishes the regulatory framework for the production of green hydrogen, will ensure greater legal and regulatory certainty for investors' decision-making. The Company aims to be one of the catalysts for the advancement of this technology in the country. Some notes on Iberdrola in Brazil Iberdrola operates in Brazil through Neoenergia, a leading grid company with almost 730,000 kilometres of power lines. Neoenergia is present in 18 states and the federal district of the country and has five electricity distributors and almost 4,500 megawatts of renewable energy installed. Neoenergia distributes electricity to around 40 million Brazilians through 16 million supply points, and employs more than 15,000 people and creates 28,000 jobs in the country through its activities. READ MORE
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21/06/2024 - 15:00 UTC +02:00Iberdrola, awarded by the Brazilian Institute of Executives for its corporate operations in Brazil The company received the Golden Tombstone award, which aims to recognise companies for innovation and relevance in financial transactions. Iberdrola's subsidiary in Brazil, Neoenergia, was awarded in the Mergers and Acquisitions (M&A) category for the Spring Project, which involved an exchange of generation assets with the Eletrobras Group. In addition, the company was recognised with the second prize for its alliance with GIC for the development of transmission networks in Brazil for 2.4 billion Brazilian reais (456 million euros). Neoenergía was the only company in the electricity sector selected for the final in the M&A category and this is the first time that a company has won both the first and second prize in the same category. The award reflects the relevance of corporate development operations, the excellence of internal teams and the Iberdrola group's commitment to creating value for its shareholders. Iberdrola has had an active alliance policy, which has allowed it to complete in just one year the asset rotation and alliance targets for 2022-2025, and even exceeded them by raising more than €8 billion. In fact, in recent months, the company has achieved the following targets: * Extend the alliance with Norges to accelerate decarbonisation and currently have a portfolio of 2,500 MW. * In December, Iberdrola closed a deal with Masdar to co-invest €15 billion in offshore wind and green hydrogen in Germany, the UK and the US, following the successful investment agreement announced in July to co-invest in the Baltic Eagle offshore wind farm. * Last September, the Company teamed up with GIC for expanding transmission networks in Brazil for €430 million. * The company has sold more than 8,400 MW of combined cycle gas plants in Mexico for $6.2 billion. * In March, Iberdrola and BP also signed a strategic alliance to deploy 11,700 fast-charging points in Spain and Portugal, and launched their joint venture on 1 December. * Iberdrola and MAPFRE have made further progress in their strategic alliance by adding 150 new MW through a joint venture, which already has 450 MW. * In January 2023, the electricity company signed an alliance with Norges Bank Investment Management to developes 1,265 MW of renewables in Spain. * In addition, a few months ago Iberdrola signed an alliance with Energy Infrastructure Partners to co-invest in the Wikinger offshore wind farm and boost its offshore wind portfolio. READ MORE
