Link Securities| According to data from the energy balance sheet at the end of March reported by the company to the Spanish National Securities Market Commission (CNMV), summarised by Europa Press, Iberdrola (IBE) generated 10,489 GWh with renewable energy in Spain in 1Q2024, representing an increase of 19.4% over the same period and the highest in the last decade. This figure for the group’s renewable generation in Spain was driven by new installed capacity and increased rainfall in 1Q2024.
IBE has installed more than 1,750 MW of renewable capacity in Spain in the last 12 months, mainly photovoltaic (1,300 MW) and wind (340 MW), bringing its total renewable capacity to 21,708 MW. In addition, hydroelectric reserves are close to 80%. Globally, the group has managed to consolidate the 24,000 GW of renewable generation in 1Q2024 -a record figure-, despite the negative performance of onshore wind, which has been offset by the increase in hydroelectric generation. By country, in addition to Spain’s positive performance, there were notable increases in renewable generation in the UK (+4.3%), Mexico (+5.6%) and the rest of the world (+30.4%).
The group’s installed renewable capacity reached 42,387 MW at the end of March, after adding more than 2,800 MW in the last 12 months. IBE has installed more than 1,600 MW of photovoltaic and more than 1,200 MW of onshore and offshore wind..
