Iberdrola

Spanish economy 25th April 2023

Court ruling allows Avangrid (81.5% Iberdrola) to continue construction of power line between US and Canada

As reported by Europa Press, Avangrid, the US subsidiary of Iberdrola (IBE), has won a court battle in the United States for a large power line that would transport renewable energy between Canada and the New England region (United States). A Maine jury has granted a reprieve for Avangrid’s proposed $1 billion (around €911.4 million) New England Clean Energy Connect (Nec) transmission line. The transmission line between Quebec (Canada) and…

Relevant News Item, Spanish economy 5th April 2023

Iberdrola sells Mexican government a large part of its business in the country for €5,478 million

Iberdrola announced on Tuesday a major sale of natural gas assets in Mexico, putting an end to several years of tensions with the country’s government. As the company, headed by Ignacio Sánchez Galán, informed the CNMV late in the afternoon, the subsidiary Iberdrola México and the state fund Mexico Infrastructure Partners (MIP) have signed an agreement of intent whereby a trust headed and managed by MIP will acquire 8,539 MW…

Companies, Spanish economy 28th March 2023

Iberdrola to lead green hydrogen consortium, Atmosphere

Alphavalue / Divacons | The Spanish utility has announced that it will lead the ‘Atmosphere’ consortium, a project that will integrate different companies to innovate in new technologies that can be applied to the critical equipment of green hydrogen generation plants, thus covering the entire value chain, as reported by the company in a statement. The consortium will also include Ingeteam Power Technology, Inerco Ingeniería Tecnológica y Consultoría, ABC Compressors,…

Companies, In the World 21st March 2023

Iberdrola begins work on photovoltaic plants in Texas and Ohio, combined capacity 523.5 MW

Link Securities | The company, through its US subsidiary Avangrid, has begun construction of two of its largest photovoltaic plants in the country, located in Texas and Ohio. These are the True North and Ohio Powell Creek projects, with a combined capacity of 523.5 megawatts (MW). The Ohio Powell Creek farm, which is being built in Putnam County (Ohio), will have a capacity of 202.5 MW and will generate enough…

Companies, European economy, In Europe 16th March 2023

Iberdrola and Haizea Wind Group sign €200m+ contract to supply East Anglia Three wind farm

Alphavalue/Divacons | The chairman of the Spanish utility, Ignacio Sánchez Galán, said that it is necessary to “run” and “accelerate” the commitment to a system based on clean energy so that Europe does not continue “with the anguish” of energy supply that it is experiencing and makes progress towards the self-sufficiency that “renewable energies provide”. On the other hand, Iberdrola (IBE) and Haizea Wind Group signed a contract worth more…

Spanish economy 23rd February 2023

Iberdrola profit in 2022 up 11.7% to €4,339m

Bankinter : Main figures compared to estimates: EBITDA €13,228M (+10%) vs €12,939 est;. EBIT €7,984M (+9%) vs. €7,780M est; BNA €4,339M (+11.7%) vs. €4,193M est; Funds Generated by Operations (FFO) €11,123M (+24.8%); Net Debt €43,749M vs. €39,119M in December 2021. Dividend per share against 2022 results stands at €0.49/share, after proposing a final dividend of €0.31/share to be paid in July. Good results helped by the positive performance of the…

Companies, Ibex, Spanish economy 31st January 2023

Iberdrola tops 7,500 employees in US, its main investment destination

Norbolsa | Iberdrola has surpassed 7,500 employees at its US subsidiary Avangrid, while at the same time generating a total of 70,000 jobs in the country through its purchases and investments. As the electricity company explained in a statement, the United States is the main destination for its investments, with more than $21,500 million (€19,723 million) for the three-year period 2023-2025. Regulatory stability and the commitment of the different administrations…

Spanish economy 18th January 2023

Iberdrola sells Norges 49% of €1,225-million renewable assets portfolio

Iberdrola has signed a strategic alliance with the Norwegian sovereign wealth fund, managed by Norges Bank Investment Management, to co-invest in 1,265 megawatts (MW) of new renewable capacity in Spain – 20% wind and 80% photovoltaic. This renewable portfolio will have the capacity to power more than 700,000 homes each year. The valuation of 100% of this portfolio of assets amounts to approximately €1,225 million. Iberdrola will control and manage…

Companies, Ibex, Spanish economy 24th December 2022

Iberdrola: Pontegadea could enter negotiations to buy a stake in Proyecto Romeo’s renewables; Norges Bank has exclusivity on the deal for 1 month

Bankinter | Norges Bank Investment Management, which manages Norway’s sovereign fund, is in exclusive talks with Ibedrola to buy a stake of up to 49% in a mega portfolio of renewable assets owned by the Spanish utility. The portfolio is called Proyecto Romeo and is valued at 1.2 billion euros. It includes wind and solar projects in different phases of development with a total output of 1.266MW. Of the whole…

Companies, Ibex, World economy 21st December 2022

Iberdrola will build a hydrogen and green methanol planta in Australia with €1.1 B investment

Bankinter | Iberdrola has reached an agreement with the Abel Enery group to build a hydrogen and green methanol production plant in Bell Bay, in northern Tasmania (Australia). The investment required will be 1.1 billion euros. The project, called Bell Bay Powerfuels, is backed by the Australian government and will be one of the biggest plants in the world. The production capacity of the new plant will be 200.000 tonnes…

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