Iberdrola

In the World 3rd October 2023

Iberdrola closes €465 million agreement with GIC to grow networks in Brazil

Banc Sabadell| Iberdrola (IBE) and GIC, Singapore’s sovereign wealth fund, have closed the €465 million (BRL 2.4 billion ) deal to develop new electricity transmission networks that they had announced in April and which has already been approved by the National Electricity Agency (ANEEL) and the Administrative Council for Economic Defence (CADE). Both companies will invest in operational transmission assets in Jalapao, Santa Luzia, Dourados, Atibaia, Biguacu, Sobral, Narandiba and…

Relevant News Item 1st October 2023

Iberdrola could recover around €700m of ScottishPower and Energy East acquisition bonuses following EGC ruling

Banc Sabadell: The General Court of the European Union (EGC) has ruled that the tax relief of the corporate income tax deduction for goodwill generated by the indirect purchase of shareholdings in companies abroad, both in direct and indirect acquisitions, is lawful. Thus, the EGC rejects the EC’s arguments that they are unlawful state aid and incompatible with the internal market. Assessment: Positive news, although with limited impact due to…

In the World 20th September 2023

Iberdrola reach final stretch in Maverick project: sale of 49%-50% of Avangrid’s renewables portfolio worth €6-7 billion

Link Securities| Iberdrola’s Maverick Project, an operation that consists of the search for a partner to support it financially in the development of renewables in the US, is entering its final stretch, as highlighted in today’s edition of Expansión newspaper. The candidates are the state funds Norges, from Norway; Masdar, from the emirate of Abu Dhabi; and GIC, from Singapore; as well as the American fund GIP. The finalists aim…

In the World 18th September 2023

Iberdrola, via Avangrid subsidiary, to boost revenues by $1.36 billion due to new tariffs in New York

Link Securities| Avangrid, Iberdrola’s US subsidiary, expects to obtain almost $1.36 billion in additional revenues from the increase in its electricity and gas rates in New York, according to elEconomista.es today. The company’s new tariff plan, which covers the period 2023-2026, includes double-digit increases and is expected to come into effect next month. The extra revenue, regulated by the state of New York, will be spread over three fiscal years:…

World economy 28th August 2023

Iberdrola, very active in the US, starts up photovoltaic plant to supply Meta in Texas and promotes first solar project in California

Link Securities | Iberdrola’s US subsidiary Avangrid has begun construction of the 240-megawatt (MW) True North photovoltaic plant in Falls County, Texas, which will provide renewable energy to supply operations in the region of Meta Platforms (META-US), Facebook’s parent company, according to La Vanguardia newspaper. The project aims to power Meta’s upcoming data centre in Temple City, its second such facility in Texas. Starting in 2020, the global operations forecast…

Companies, Relevant News Item 16th August 2023

Iberdrola launches Carbon2Nature to develop high-impact nature-based solutions projects

Alphavalue/DIVACONS| The Spanish utility company has launched Carbon2Nature (C2N) with the aim of developing high-impact nature-based solutions projects that reduce the global carbon footprint, improve biodiversity and promote a sustainable economy, the energy company said. Iberdrola said the company was born out of the conviction that investing in nature is “essential to act against the climate and diversity crisis, while at the same time acting as a formula for creating…

Companies, Ibex, Relevant News Item 7th August 2023

Iberdrola reduces debt maturities in 2023 to less than €2 billion

Link Securities | Iberdrola (IBE) has reduced its debt maturities in 2023 to less than €2 billion, after obtaining €4.855 billion in new financing and extending the duration of €6.1 billion so far this year, as reported on Monday by Expansión newspaper based on Europa Press. Specifically, the electricity company has received the support of the market, having executed some 30 operations between loan extensions and new financing in the…

Relevant News Item 17th July 2023

Iberdrola to repower Hagshaw Hill wind farm, one of Britain’s oldest

Alphavalue/DIVACONS | The Spanish utility company, through its subsidiary ScottishPower, will repower the Hagshaw Hill onshore wind farm, one of the oldest in Britain, which will allow it to generate five times more “green” electricity with almost half as many turbines. The farm, which has a total capacity of 16 MW, with its 14 new and more powerful turbines -almost half of the current ones- will have an installed capacity…

Spanish economy 5th July 2023

Iberdrola completes €154,773,000 capital reduction through share redemptions

Link Securities | The executive chairman of Iberdrola (IBE) has declared closed and executed the capital reduction through the redemption of treasury shares approved by the General Shareholders’ Meeting of the Company held on 28 April 2023, in exercise of the powers conferred by the Board of Directors. Iberdrola’s share capital has been reduced by €154,773,000 through the retirement of 206,364,000 treasury shares. The share capital resulting from the reduction…

Spanish economy 26th June 2023

Iberdrola signs alliance with Crédit Agricole to grow offshore wind in France

Bankinter : The electricity company is finalising an agreement with Crédit Agricole to incorporate it as a partner in the development of offshore wind projects in France. The two groups will jointly participate in the tenders that the French government will hold in the coming weeks to award hundreds of megawatts of offshore wind power. One will award 250MW in Brittany and the other 500MW in the Mediterranean. Assessment: Good…

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