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To respond to this increase in demand, the company has once again recorded a new record for renewable production
Electricity distributed by Iberdrola reaches all-time highs
This new all-time record comes thanks to the investments made to continue accelerating the deployment of renewable energy.
Electricity distributed by Iberdrola reaches all-time highs [PDF] - The electricity distributed by Iberdrola worldwide stood at 177,943 GWh in the first nine months, an increase of 2.5%
- Iberdrola's renewable energy production reached 63,300 GWh during the first nine months, 7.4% more than in the same period last year
- The company has installed more than 2,800 MW of renewable energy in the last twelve months, up 7%, highlighting the 47.5% increase in offshore wind capacity, to almost 2,400 MW thanks to new wind farms in Continental Europe (France and Germany)
- The group's emission-free production stands at 84% and in the United Kingdom, France, Italy, Germany, Poland, Portugal, Greece and Bulgaria it stands at 100%
Iberdrola's distributed electricity has reached an all-time high, registering 177,943 GWh in the first nine months, an increase of 2.5% compared to the same period last year.
The good performance in electricity distribution was driven by the recovery of electricity demand in all the markets where the company is present.
To respond to this increase in demand, in the first nine months Iberdrola has once again set a new record for renewable generation, reaching 63,300 GWh, an increase of 7.4% compared to the same period last year. Offshore wind leads the growth, with an increase of 18%.
This new all-time record, which adds to those obtained in the first two quarters of the year, comes thanks to the investments made to continue accelerating the deployment of renewable energy and the increased production and management of clean energy, especially manageable technologies such as pumped storage hydro.
The company has installed more than 2,800 MW of renewable energy in the last twelve months, which represents an increase of 7% compared to the same period last year. The expansion of offshore wind leads the way, which grew by 47.5% in this period, to almost 2,400 MW of capacity, thanks mainly to new offshore wind farms in France and Germany.
The group's total renewable capacity now exceeds 44,100 MW, as reported today by the company to the National Securities Market Commission (CNMV). By renewable technologies, wind power represents more than 41% of the company's total energy mix, followed by hydroelectric, which represents 23.3%.
Leading clean energy
The capacity to manage renewable resources in Spain has also supported record generation in the country. More than 25,600 GWh of renewables production was recorded in Spain in the first nine months of 2024, an increase of 24.8% compared to the same period last year. The lower production of onshore wind was offset by the increase in hydroelectric generation- supported by pumped storage hydro.
Currently, 84% of the company's production is emission-free. In countries such as the United Kingdom, France, Italy, Germany, Poland, Portugal, Greece and Bulgaria, the group generates 100% emission-free energy. In Spain this percentage stands at 91%.
With its new capacity, Iberdrola will continue to promote energy self-sufficiency and electrification, to deliver greater energy and economic efficiency for customers.
The company's total production stands at more than 100,000 GWh (-19%), taking into account that the company sold 8,500 MW of combined cycle plants in Mexico in the first quarter of 2024.
Commitment to electrification
For more than two decades Iberdrola has been at the forefront of the energy transition, with investments that exceed 160 billion euros in that period. Looking forward, Iberdrola is delivering an investment plan that will reach 46 billion euros – 41 billion euros announced the company’s strategic plan, plus 5 billion for the acquisition of ENW in the UK.