Iberdrola has asked the Energy Minister to authorise the closure of its thermal power plants in Lada, Asturias and Velilla in Palencia, the only two operational coal power plants the group has left. With their closure, it will conclude the process of shutting down its thermal plants across the globe.
Iberdrola, Enel and EDP, along with other European energy groups, have sent a letter to the European Commission and the European Parliament calling for more ambitious objectives with respect to renewable energies in the EU.
Spain’s big utility companies have accused the Energy Ministry of “driving investors away” with their strategy of revealing the next milestones in the energy reform to the large investment banks. The main electricity firms (Iberdrola, Endesa, Gas Natural and REE) saw almost 3 billion euros shaved off their market capitalisation in just one day.
Iberdrola is sounding out possible acquisition opportunities in the European energy sector and Innogy is on its radar. According to financial sources, the Spanish firm could be interested in launching a bid for the German utility company.
The Basque region-based industries, like the automotive and aerospace, are global and cutting hedge. They export between 70% and 90% of their production, achieving surpluses for the region’s trade balance, of some 5 billion euros in one of the last few years.
Neoenergia’s shareholders (Banco de Brasil, Previ and Iberdrola) have reached an agreement for Neoenergia to incorporate Elektro’s business and activity. This operation was on the cards and will be very positive for Iberdrola and its stock price
Iberdrola has signed a loan worth 500 million euros with BBVA to finance energy efficiency and renewable energy projects. The so-called green loan offers the company more advantageous conditions (no details have been provided on the cost or maturity).Furthermore, the company…
UBS | Based on our latest conversations with investors, the following three questions emerged on Iberdrola: Could we see EPS growth upgrades following the strategic update on Feb-2017? Could renewables growth plans in the US be at risk? And, Is the company likely to pursue inorganic growth as suggested by recent press articles?
Spanish power company Iberdrola is involved in the electricity and gas generation and distribution businesses in the US. It also has 5.504MW of installed capacity in Mexico, mainly in combined gas cycles. This is one of the pillars of future growth for Iberdrola as it is constructing 4.000 MW to reach a 2020 target of 10.000 MW of installed capacity.
Spain’s three biggest utility companies, Iberdrola, Endesa and Gas Natural, earned 30% less in 2015, recording a combined profit of € 5.0009,6 billion in 2015, 29.6% less than a year earlier.