Iberdrola maintains its commitment to renewables with 500 new green MW under construction

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30/05/2022

Iberdrola maintains its commitment to renewables with 500 new green MW under construction

  • The company will invest more than 350 million euros in the development of ten photovoltaic and wind power projects in three autonomous communities
  • The new plants will be able to supply 257,000 households with clean energy and will prevent the emission of more than 117,000 tonnes of CO2 per year into the atmosphere

Iberdrola maintains its leadership in promoting the development of renewable energies in Spain, where it currently has 500 new MW of wind and solar power under construction. The company is developing ten new plants, with an investment of more than €350 million. Together, these facilities will have sufficient capacity to supply 257,000 homes with clean energy and will prevent the emission into the atmosphere of more than 117,000 tonnes of CO2 per year.

Most of the new developments correspond to photovoltaic installations, in which the company will install around 720,000 panels. The Tagus I, II, III and IV plants in Extremadura, located in the town of Alcántara in Cáceres, stand out among them. With a capacity of 200 MW, these four facilities will have bifacial modules that allow for greater production as they have two light-sensitive surfaces. Thus, once they come into operation, they will together generate more than 313,650 MWh per year, which is equivalent to supplying more than 95,850 homes, avoiding the emission of 43,250 tonnes of CO2. 

Andalusia is another key region in Iberdrola's plans to develop solar energy. In this region, the company is promoting four new photovoltaic plants, declared to be of strategic interest by the Andalusian regional government. Three of them (Poleo, Cornicabra and Espliego) are part of the Guillena project, in the Seville municipality of Castilblanco de los Arroyos. These facilities, which have a total capacity of 144 MW, will supply energy to 72,000 homes and will prevent the emission of 32,000 tonnes of CO2 per year.

Iberdrola is also building the Cespedera plant in Medina Sidonia (Cádiz), which with 27 MW will generate enough green energy to cover the consumption of 15,500 households and prevent the emission of 7,000 tonnes of CO2 per year into the atmosphere. 

These projects will generate up to 680 jobs during peak construction periods, thus contributing to the development of the Andalusian economy.

In Castilla y León, Iberdrola is building the Villarino photovoltaic plant in Salamanca, which will install 50 MW of green energy. Once operational, this infrastructure will generate enough clean energy to supply a population of around 27,000 homes and will prevent the emission of 12,000 tonnes of CO2 into the atmosphere per year.

In the same community, the company is building the 50 MW Valdemoro wind farm. This wind farm will have eleven wind turbines capable of supplying more than 48,000 homes and avoiding the emission of 23,000 tonnes of CO2 into the atmosphere.
With these initiatives, the company will create up to 370 new jobs in the region, most of them local.

The company is ready to start construction of another 245 MW of renewable energy.  

In addition, Iberdrola has already obtained the Environmental Impact Statements for the construction of the Alcarria photovoltaic projects (40 MW) in Castilla-La Mancha, Peñarrubia (50 MW) in Murcia and Virgen de Areños (50 MW) in Castilla y León. The El Escudo wind farm (105 MW) in Cantabria also has this authorisation. Construction will begin once the rest of the necessary permits have been obtained. 

Iberdrola has been leading the energy transition for more than two decades. The company has launched a historic investment plan of €150 billion over the next decade - €75 billion by 2025-, with which it expects to triple its renewable capacity worldwide and double its network assets.

In Spain, the group leads the renewable sector with an installed capacity of more than 17,400 MW, which will reach 25,000 MW in the coming years thanks to its investment plan, which foresees allocating 14.3 billion by 2025 to the deployment of an ambitious renewables and smart grids plan.

Iberdrola's share price is up more than 10% with dividends so far this year; its share price is at a 13-month high and is close to record highs. The energy company's capitalisation stands at around €73 billion, the highest on the Spanish stock market, and equals the combined value of Naturgy, Repsol and Endesa. The majority of investment banks recommend buying the company's shares, recognise its historical value creation and anticipate good expectations for the market in the medium and long term.