Iberdrola is selling its entire stake in German turbine manufacturer Siemens Gamesa, representing 8.07 % of its share capital. The price for the transaction is €1.1 Bn, which equals to €20 per share, plus a premium of 32%.
Iberdrola will promote via its subsidiary Scottish Power Renewables a marine wind mega-project, called East Anglia Hub, which will add an installed capacity of 3,100 MW and involve an approximate investment of 6,500 million pounds (more than 7,600 million euros). The three projects will be procured together to leverage their scale with a continuous installation programme.
Banca March | The Spanish utility prepares its launching in Australia with a portfolio of renewable projects for 650 MW in the states of Queensland and South Australia, with an estimated market investment of approx. € 500M.
Bankinter | Iberdrola has detailed a little more the destinations for its investments in the 2018-22 Strategic Plan. The principal destination will be the US, where it counts on its subsidiary Avangrid and where it will invest a total of 12 Bn$ (10.7 Bn€) over the next few years. It foresees investing 6.5 Bn€ in Brazil and 4.5 Bn€ in Mexico.
Labour leader Jeremy Corbin is considering the nationalisation of the UK’s energy transportation and distribution lines, offering Treasury bonds as compensation to their owners, but at below market valuation. If this new energy policy was put into effect it would have a significant impact on Iberdrola.
Renta4 | According to media reports, the Spanish electricity company is in preliminary conversations with Neoelectra and SDCL to sell its electricty co-generation business in Spain, where it has 19 plants producing 368 MW.
S&P Global confirmed the long-term credit rating “BBB +”, with a “stable” outlook for Iberdrola, backed by “solid” operating performance in 2018 and in 1Q2019.
Bankinter | Good results for Iberdrola in Q1 2019, beating market estimates. The principal figures compared to the Bloomberg consensus are: income 12.599 billion euros (+12%) vs 2.494 billion euros; EBITDA 2.599 billion euros (+12% vs 2.494 billion euros; EBIT 1,632 billion euros (+185) vs 1.533 billion euros; Net Annual Profit 964 M€ (+15%) vs 871 M€; funds generated by operations 2.037 billion euros (+8.5%); Net debt 35.559 billion euros (vs 34.217 billion euros in December 2018).
Bankinter | Iberdrola is preparing a bond issuance in Brazil. The Spanish company’s aim is to secure financing for its Brazilian subsidiary’s new investments. Among these investments, the adjudication of network projects valued at €1.380 billion stands out.
Endesa and Iberdrola will next month begin to receive the first gas tankers from the Corpus Christi gas liquefaction plant, after this installation received the necessary permits for putting into function its first convoy. In this way, both Spanish companies put in action agreements of above 10 billion euros for the purchase of gas over the next 20 years.