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Today, Iberdrola has once again demonstrated its support for the Basque industrial fabric by signing five new agreements, each with leading suppliers, Ingeteam, Tamoin, Ormazabal-Velatia, MESA and the Arteche group, for the supply of equipment and services aimed at furthering the energy transition.

These agreements are in addition to the more than 2.2 billion euros awarded by Iberdrola to Basque companies in the last 18 months alone, of which 500 million euros went to the five companies mentioned.

The signing of these agreements took place this morning during an event held at the Iberdrola Tower, under the banner Iberdrola group agreements with Basque companies for the supply of equipment and services. The energy transition, a motor for growth and employment, which was attended by Iberdrola's Chairman, Ignacio Galán, and the Lehendakari, Íñigo Urkullu.

The Basque Councillor for Economic Development and Infrastructures, Arantxa Tapia, the President of Biscay Regional Council, Unai Rementería, and representatives of the five signatory suppliers were also present: Javier Ormazabal, Chairman of Ormazabal Velatia; Teresa Madariaga, Chairwoman of Ingeteam; Alexander Arteche, Chairman of Grupo Arteche; Antonio Barrenechea, Chairman of Tamoin, and Frederic Alves Ferreira Rebelo, Managing Director of MESA.

"A magnificent opportunity for Basque industry”

In his speech, Galán affirmed that the signing of these contracts makes it very clear that “Basque Country industry is a forerunner in Europe in an area denoted by the European Commission as key to the recovery and future of the continent: energy transition”.

In this sense, he indicated that both the Next Generation EU in Brussels and the National Integrated Energy and Climate Plan “represent a magnificent opportunity for Basque industry, which has excellent experience and competitiveness in areas such as intelligent networks, electric vehicles and recharging systems, electrification of air conditioning and, of course, renewable energies”.

We are only at the beginning of a great transformation. The consensus on the huge investments needed to make the energy transition a reality is unanimous. And we have access to the talent, technology and financial resources to make it possible.

So, in 2020, Iberdrola's investments will accelerate to reach 10 billion euros, almost doubling the average of recent years. To achieve this objective, the company has advanced orders for 4,200 million euros to its suppliers in recent months, which has allowed it to continue to exert a driving force on the business and industrial fabric of the regions in which it is present.