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.
Avangrid, the company born of the merger between Iberdrola and UIL assets, is going to launch a $ 9.600 billion investment plan until 2020.
LONDON| By UBS analysts | Mexico is the eleventh largest country in the world by population. Yet, when it comes to energy infrastructure and consumption per capita, it ranks poorly especially compared to developed, western regions. The energy policy recently introduced provides a major capex opportunity: about €100bn over the coming ten years. Estimates for EU utilities reach investments of €18bn, which would allow for a potential net income increase of €1.1bn. In this context, most of the companies eyeing the region are from Southern Europe, with Enel and Iberdrola remaining as the sector top picks.
MADRID | By Julia Pastor | First Spanish energy company in terms of market value Iberdrola- which is also fifth in Europe- is likely to sell 25% of its Spain’s supply business. Iberdrola said earlier on Tuesday that “to date, the company has not made any decision in connection to divestments of its assets.” If finally confirmed the eventual sale could be seen as response to the Spanish energy reform which strongly affected renewables. The firm already announced investment cuts in Spain for the next two years and an increase in the UK.
MADRID | By Jaime Santisteban | Spain’s unemployment rate climbed to nearly 26 per cent in 1Q, official data showed Tuesday, despite the positive growth figures the government is proudly showing. Markets are weighing the effects of those numbers on the country’s sluggish recovery, the same day Spanish bank Santander announced an 8% profit increase in 1Q. Spain only accounts for 14% of the entity’s profits, while the UK is already 20%.