News
2023-12-07 15:10:00.0Ignacio Galán: "If we want to achieve zero emissions, we must act faster"
Ignacio Galán, Executive Chairman of Iberdrola, in his CNBC interview
- The Executive Chairman of Iberdrola has shown his confidence in the goal of tripling renewable energy capacity by 2030 thanks to the ambition, technology and funds to achieve it.
Ignacio Galán, executive chairman of Iberdrola, took part in an interview with CNBC, where he indicated that Iberdrola is sticking to its goal of tripling its renewable energy capacity by 2030, stating that it has the ambition, technology and funds to do so. However, he also confirmed that this requires governments to pass predictable and stable rules to help investment in renewables and reduce the risk of renewables.
Galán also pointed out that renewable energies are currently cheaper than fossil fuels. This is because new renewable plants are always equated with existing fossil fuel plants, when the creation of two plants from scratch should be compared, making fossil fuel plants more expensive.
For the future, Iberdrola's executive chairman points out that we need to move faster if we want to achieve the targets, but that will also depend on governments and the sanctions they impose. He believes that by 2024 the economy will stabilise and the commodities market will be more stable despite inflation and rising interest rates, so that investment in renewable technologies and storage will come to normalise.
If you want to see Ignacio Galán's interview, you can find it here.