Noticias
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15/01/2024ScottishPower unveils £5.4bn worth of contract opportunities as it turbo charges its next phase of electricity network investment The early new year boost for the supply chain by its SP Energy Networks business is the company’s biggest issued contract opportunity ever and will see major investment in green energy infrastructure and green jobs which will bolster the grid for decades to come. With electricity demand forecast to double in the next 10 years, the International Energy Agency says the UK needs more than 600,000km of new or upgraded electricity lines to meet its needs. ScottishPower is at the forefront of unlocking green growth and now has billions of pounds in contracts on offer for the supply chain to support its electricity network ambitions and a net zero future. Keith Anderson, ScottishPower CEO, said: “We’re kickstarting the largest overhaul of the grid since its inception. Our investment plans will help grow our electricity networks, grow our workforce and will provide a massive opportunity for the supply chain whilst unlocking growth for the wider economy." “It is vital we get serious about getting on with the job of consenting and getting this new grid built so that we can take advantage of clean green renewables, transport it around the country and lock in our energy security and maintain the UK’s track record in leading on decarbonisation” ScottishPower’s grid business, SP Energy Networks, is now encouraging companies with the skills and experience to bid for contracts to design, develop and upgrade new and existing strategic transmission infrastructure. This will include new high voltage substations, overhead line construction as well as design, engineering, construction, and electrical works. Vicky Kelsall, CEO of SP Energy Networks, said: “This is one of the most significant infrastructure roll outs to upgrade the grid to support the electricification of the wider economy. We’ve got the plans and we’ve got the financial capital to invest, and the UK supply chain stands ready to benefit to the tune of billions.” The £5.4bn worth of contracts will cover the next 10 years and includes transmission projects across central and southern Scotland. It will help move more green energy across the country to help deliver a low carbon future, connecting 80-85GW of clean renewable energy to the GB transmission system and reduce the UK’s reliance on fossil fuels. In November, the UK Government announced plans to halve the time it takes to build high voltage power lines and cut the time it takes to connect to the grid. Its package of measures aims to support economic growth and cement the UK as one of the best countries in the world to invest in renewables. READ MORE
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12/01/2024Iberdrola and ANFACO-CECOPESCA sign an agreement to help decarbonise the industrial fishing chain Iberdrola has signed an agreement with ANFACO-CECOPESCA – an entity representing the marine-industry chain – by which the 255 companies associated with this cluster of the marine-industry chain that wish to do so, will receive personalised advice on how to reduce their carbon footprint by implementing decarbonisation solutions adapted to their industrial processes. Iberdrola will also make its GGE (Global Green Employment) platform available to members, which focuses its activity on the dissemination of green jobs. Through this portal, any citizen can consult the demand for professionals in this sector and access information on all jobs worldwide. Find out more about this news in the Iberdrola España Communication Room . READ MORE
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11/01/2024Iberdrola partners with ZeroAvia to explore green hydrogen solutions in the UK aviation sector Iberdrola, through ScottishPower, its UK subsidiary, has reached an agreement with aircraft manufacturer ZeroAvia to explore the development of green hydrogen supply solutions in the UK aviation sector. This collaboration will allow ScottishPower and ZeroAvia to analyse the necessary infrastructures to enable the use of this fuel on certain flights. Scottishpower also supports decarbonisation through green hydrogen projects across the British Isles. You can find more information about this news in ScottishPower's Communications Room. READ MORE
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10/01/2024Iberdrola brings Olympic champion Ana Marcela on board as a women's sports ambassador in Brazil Iberdrola, through its Brazilian subsidiary Neoenergia, has already brought on board the sportswoman Ana Marcela as a women's sports ambassador in its ambassador programme, whose focus is on promoting gender equality and boosting Brazilian women's sport . Ana Marcela Cunha, the first Brazilian woman to win Olympic gold in open water, also wants to win gold at the next Paris 2024 Olympic Games. To fulfil this dream, the athlete counts on the support of Neoenergia – which will help her to raise the quality of her preparation for competitions in France. Find out more about this news in the Neoenergia Communication Room . READ MORE
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09/01/2024Iberdrola reopens the hybrid green bond market with an issue of €700 million Iberdrola is reopening the hybrid bond market in Europe with a €700 million issue, as reported to the National Securities Market Commission (CNMV). The bond issued is perpetual, but has a repurchase option within 7 years. The coupon has been set at 4.871%. It ranks as the most competitive hybrid operation in the last 12 months. The demand demonstrates fixed income investors interest in Iberdrola. It reached €3.4 billion, 4.8 times oversubscribed, and consists of more than 200 international investors, mainly from Europe and the United Kingdom. It is the first hybrid bond issue on the Euromarket for two months. The demand and the coupon rate show investors’ confidence in Iberdrola’s fiscal strength, business outlook and growth plans. The operation refinances the €700 million issued in 2018, which will be repurchased shortly, keeping the company's hybrid volume stable at €8.25 billion. The funds obtained will be used to refinance the same revolving assets that were included in the operation in 2018. The improvement in both interest rates and credit margins since the end of last year has allowed Iberdrola to benefit from better financial conditions than those available in H2 2023, when the market environment was more volatile. Iberdrola's flexibility to analyse evolving market conditions and refinance this operation in a more positive environment helped to ensure the successful placement. Hybrid bonds count as 50% capital, in accordance with the methodology of the main rating agencies, so this operation contributes to maintaining the group's credit ratings. The last issuance of this type of debt by Iberdrola was in January 2023. Eight top-tier international banks participated in the placement: JP Morgan, Barclays, Crédit Agricole, BBVA, Natwest, Deutsche Bank, Caixabank and Royal Bank of Canada, which facilitated access to investors. International Trust Investor confidence in Iberdrola remains strong. At the end of December the company signed its largest credit line in history for €5.3 billion with 33 international banks. The transaction was completed at competitive rates for Iberdrola, with prices similar to those in 2019, and the operation was oversubscribed by more than 40%. It highlighted the banking world’s strong confidence in Iberdrola, Europe leading electricity company by market capitalisation and the second largest in the world. In addition, yesterday Iberdrola expanded its partnership with the World Bank, securing a €300 million green loan for renewable projects in countries dependent on fossil fuels, such as coal, including Morocco, Poland and Vietnam. Global leader in sustainable and green finance Iberdrola has established itself as a global benchmark in sustainable finance. The company was the first Spanish group to issue green bonds in 2014 and is now the world's leading private issuer of green bonds. The group currently has almost €20 billion of outstanding green bonds. Iberdrola agreed its first green loan in 2016 for €500 million, thereafter focusing its strategy for loans and credit lines to be aligned with sustainability objectives. This financial strategy strengthens Iberdrola’s record €47 billion investment plan announced in November 2022, for the period 2023 through 2025. The plan aims to boost the decarbonisation of the economy and the move away from fossil fuels, with a strong commitment to smarter electricity grids and renewables. Iberdrola will update this plan in March 2024 at its next Capital Markets Day. READ MORE
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08/01/2024Iberdrola and the World Bank extend their partnership with a 300 million green loan for renewable projects in emerging countries Iberdrola receives new recognition from the World Bank, through its private sector investment arm – International Finance Corporation (IFC) –. The institution and the electricity company have signed a loan, linked to ESG criteria (environmental, social and corporate governance), of 300 million euros for renewable projects in countries that depend on fossil fuels, such as coal, including Morocco, Poland and Vietnam. 170 million euros of the agreed amount have already been committed to finance onshore wind energy projects in Poland. In addition, both institutions continue to analyse options for collaboration to support the development of new innovative clean energy projects in emerging countries, such as offshore wind and green hydrogen generation. The current loan is subject to meeting two strategic ESG targets for the group. The first goal is to reduce the company's absolute direct and indirect greenhouse gas emissions by more than 60% by 2030 compared to the 2020 baseline, including Scopes 1, 2 and 3, from the company's operations, customers and supply chains. The second goal is to more than double Iberdrola's installed capacity by 2030, which at the end of the third quarter of 2023 exceeded 41,000 clean MW. The loan is part of the collaboration signed in May last year to promote energy transition in emerging countries. At that time, a green loan linked to sustainability targets of $150 million (approximately €136 million) was signed to finance digitalisation and energy efficiency improvements in the electricity distribution networks operated by Iberdrola's subsidiary in Brazil. Earlier, in 2022, IFC had already granted Neoenergia a loan for $115 million. José Sainz Armada, Iberdrola's Director of Finance, Control and Corporate Development, said: "This loan will allow Iberdrola to continue contributing to the energy transition, decarbonisation and electrification in developing countries – which are still highly dependent on fossil fuels. It also consolidates IFC as one of Iberdrola’s major allies in providing financing for renewable projects.” Alfonso Garcia Mora, IFC Vice President for Europe, Latin America and the Caribbean said: "This loan is a significant step in the global IFC-Iberdrola Energy Transition Partnership, which aims to support Iberdrola's expansion and re-entry into emerging markets that need to decarbonise their energy matrix". "We look forward to partnering with Iberdrola on projects that can accelerate a just and equitable transition to a low-carbon and sustainable energy future in developing and emerging markets." IFC, committed to emerging markets IFC, with an AAA credit rating, is the World Bank Group's private sector lending arm in more than 100 emerging countries, to enable them to improve their own private sectors by investing in companies through loans, equity and guarantees. The goal is to mobilise capital from other investors, and to advise companies and governments to stimulate private investment. Last year, the institution made an investment record amount of $43.7 billion (40 billion euros) to private companies and financial institutions in developing countries. IFC empowers the private sector to end poverty and boost shared prosperity as economies grapple with the impacts of crises. Iberdrola, leader in sustainable finance Iberdrola is a leader in green finance. Last December, Europe's leading electricity company and the world's second largest by stock market value signed its largest ever credit line for €5.3 billion with 33 banks at similar prices to those agreed in 2019 and with a cost linked to the fulfilment of a series of ESG objectives. IFC's relationship with Iberdrola dates back to 1998 with financing for Iberdrola's subsidiaries in Bolivia. 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 the first Spanish company to issue a bond of these characteristics in 2014. The group currently has almost 20,000 million euros of outstanding green bonds. READ MORE
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05/01/2024We increase our interim dividend by 12.2% and will pay 0.202 euros per share. Iberdrola's interim dividend corresponding to the fiscal year 2023 will amount to €0.202 gross per share, as reported today to the Spanish National Securities Market Commission (CNMV). Investors opting for the cash dividend will receive the corresponding amount on 31 January. The company once again offers its shareholders three options in this edition of Iberdrola Retribución Flexible : to receive the interim dividend in cash –the aforementioned €0.202 gross per share–; to sell their allocation rights on the market; or to obtain new bonus shares in the group free of charge. This interim dividend corresponding to the fiscal year 2023 will be completed with the final dividend that the company expects to pay in July, if approved by the company's General Shareholders' Meeting. Shareholders who opt for the option to receive new shares must hold 58 free allocation rights in order to receive a new share in the company. The three options –to receive the interim dividend in cash, to sell the rights in the market, or to receive new Iberdrola shares– are combinable, so the shareholder could choose one of the alternatives or combine them according to his or her preferences. The Iberdrola Retribución Flexible system assigns by default the option to receive new shares, so those shareholders who prefer to receive their remuneration in cash must notify their bank between 9 and 23 January. In order to implement this new edition of the remuneration system, a capital increase with a maximum reference market value of 1.3 billion euros will be carried out. Calendar of the ‘Iberdrola Retribución Flexible’ programme January 2024 5 January 2024 Notification of the number of free allocation rights required to receive one share and the amount of the gross Interim Dividend per share. 8 January 2024 Last day on which shares are traded with the right to participate in the dividend. 9 January 2024 Start of the election and trading period on the stock market for the free-of-charge allocation rights. 23 January 2024 End of the election and trading period on the stock market for free-of-charge allocation rights. 31 January 2024 Delivery of shares/payment of interim dividend. 2 February 2024 Expected date for the start of trading in the new shares. READ MORE
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04/01/2024Macroeconomic uncertainties will not halt progress on the energy transition in 2024 and beyond. COP28 will be remembered as the summit that snatched a remarkable victory from the jaws of defeat. For the first time, the world has new agreed language on transitioning away from all fossil fuels, and more than 110 countries have agreed to triple renewable energy capacity by 2030. The new commitments brokered by its president, Dr. Sultan al Jaber, were made possible by months of intense preparation and climate change diplomacy in the run-up to the summit, and constitute a pivotal moment in the fight against the climate crisis. An obvious question I was asked several times at COP, and one that is top of mind for many people, is whether these ambitious goals are feasible, especially against a backdrop of macroeconomic uncertainties. Given that delivering on the targets needs to start today, the question of feasibility is valid, bearing in mind the sheer scale of investment required to transition away from fossil fuels towards green energy. But I believe emphatically that in the next six years, the goals are achievable. Costs and benefits are shifting In 2023 global investment in clean energy reached a record $1.75 trillion, according to the IEA , and this trend is expected to continue to be driven by the need for additional energy sources to support economic growth. If you want to build new electricity capacity, renewables are better value than any other generation technology in terms of costs, security, risks, and environmental benefits. New versus new, it’s not even a close call. And by substituting aging and polluting fossil-based generation for renewables, many developed countries, such as those in the EU, are improving the balance of payments by reducing their vast energy imports. The industry has already shown it can meet ambitious targets. When the EU launched the 20/20/20 initiative in 2010, few believed we could disrupt the status quo in a meaningful way to cut emissions by 20% and increase the amount of green energy in the system to current levels. We have proved that change is possible. The challenge of high interest rates Cost inflation has affected renewables, as it has all other industrial sectors. Some recent auctions for renewable energy projects–such as the recent AR5 auction in the U.K. –did not recognize this fact. And in other instances, there were long lead times between auctions concluding and the time investments were made. This has created pain points, especially for companies that did not have the chance to hedge their costs. However, policymakers are already responding, recognizing that renewables remain the best way to secure new electricity capacity, and new auction designs and mechanisms are being put in place. The newly announced AR6 offshore wind turbine auction in the U.K. is a clear example. By setting a realistic maximum price, which allows for increases in supply chain costs and lending rates, companies will have the right incentive to bid and compete. This has been the basis for the massive cost reductions experienced in the renewables sector over decades. Of course, delivering on the goals set at COP28 will not be easy, nor will it happen by inertia. But rather than macroeconomic issues or lack of ambition, progress rests on urgent action to address the barriers that have held us back in the past. This includes ensuring stable, positive frameworks for investments, simplifying permitting processes, implementing a truly “green” tax system, bolstering global supply chains to ensure they are robust and secure, investing in green skills to drive the energy transition forward, and promoting the consumption of green products. The transformation may appear massive–but it is already under way. As we embark on a new year, fresh from a “COP for action” that has forged a global alliance for change, we are in the best position ever to deliver a real revolution in energy. * This article originally appeared on Fortune.com READ MORE
