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More than half of the 68 billion euros of organic growth will go to wind, solar and onshore and offshore hydropower
Iberdrola has launched an investment plan of 75 billion euros for 2020 to 2025, a significant part of which will be devoted to doubling its renewable energy capacity
The Spanish energy supplier said that 90% of this investment volume, 68 billion euros, will be organic and will aim to consolidate its economic model, based on « more renewable energies, more networks, more storage and smarter solutions ”for its customers
The remainder, 7 billion euros, corresponds to the recently announced acquisition of the American company PNM Resources
More than half of organic growth (51%) will go to renewable energies and 40% to networks
Renewable energy capacity is expected to double to 60 GW in 2025, compared to 32 GW in 2019
At the end of the period, the clean energy portfolio will be split between onshore wind (26 GW), offshore wind (4 GW), solar (16 GW) and hydropower (14 GW) ), said Iberdrola
Planned investments in networks will exceed 27 billion euros by 2025 and the regulated asset base will reach 47 billion euros in 2025, after a 1-fold increase compared to 2019
This expenditure rate will represent an average annual investment of € 10 billion between 2020 and 2022, and € 13 billion per year over the period 2023 and 2025
The plan includes ‘targeted investments’ in countries with climate ambitions and an A rating, with the US and UK accounting for € 34 billion of investment, or 50% of the total
It also includes a 60% increase in investments in Spain, with more than 7 billion euros allocated to renewable energies and more than 4 euros5 billion to networks
Iberdrola expects to achieve gross operating income (EBITDA) of € 15 billion by 2025, an increase of € 5 billion compared to 2019, with average annual growth of 7%
Net profit would rise to 5 billion euros, after 6% to 7% annual growth during the period, Iberdola said
Ignacio Galan (photo), President of Iberdrola, declared: “After 20 years of anticipating the energy transition, our economic model positions us as a key player in the transformation of the industrial fabric
« Through our experience, our commitment to society and our financial strength, we are advancing a model of long-term sustainable economic growth capable of meeting the current challenges of society »
Investments and the acquisition of goods and services from Iberdrola’s more than 22,000 suppliers will help maintain up to 500,000 jobs worldwide by 2025
In line with European stimulus plans, Iberdrola said it plans to install 600 MW of green hydrogen capacity by 2025 (800 MW by 2027 with Fertiberia)
Renews provides business news focused on current events in the renewable energy sector with leading coverage of the offshore and onshore wind market
Iberdrola, renewable energy, 2025, Montel, plan
News from the world – United States – Iberdrola targets renewable energies with an investment plan of 75 billion euros
SOURCE: https://www.w24news.com
