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At Davos Forum, the Executive Chairman of Iberdrola, Ignacio Galán, defended the importance of energy storage to boost investment in renewables – during his participation in the session Tripling Renewables: Make It Rapid and Responsible, together with the European Commissioner for Energy, Kadri Simson, and the American politician and US Special Presidential Envoy for Climate, John Kerry.

"We need to invest in electricity distribution networks and in storage: not only short-term storage such as batteries, but long-term storage such as hydroelectric pumping, as well as promoting interconnections between countries," explained the Executive Chairman of Iberdrola.

Regarding the goal of tripling renewables, Galán is optimistic: "We already have the technology, financial resources and ambition to make it happen. But we need to move faster”.

He also emphasised the importance of involving local communities in promoting renewable installations. "I have 25 years of experience. I grew up in a village; I know countryside people, and big companies have to get involved with local communities". In this sense, he reiterated that "agreements must be reached with local communities before starting anything.” 

In this context, alternatives must be proposed to generate new industries and create employment, "and the electricity sector is in a position to do this", he asserted.

In Galan’s opinion, the most important thing is to transmit this idea to the population. Communities "have to see an opportunity not in electricity production but in creating a new economy around it," he explained.

Finally, he highlighted the future of the electricity sector together with Artificial Intelligence. "We have to optimise our production, especially in the areas where it is most needed.”