Iberdrola Exceeds 42,000 MW Renewables and Consolidates its
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This news is classified in: Sustainable Energy Wind

Feb 12, 2024

Iberdrola Exceeds 42,000 MW Renewables and Consolidates its Position As One of the Cleanest Companies in the World

  • In the last 12 months, the company has added 3,250 new renewable MW, which is 8% more than the capacity for 2022
  • Thanks to its renewable production, which is close to 80 billion kWh, 6.3% more than the previous year, the company avoids releasing nearly 14 million tons of CO2 into the atmosphere.

Iberdrola continues to make progress in its fight for decarbonisation, as the only way to have a more sustainable planet. For this reason, the company has closed 2023 with a renewable capacity that exceeds 42,000 MW -specifically, it is at 42,175 MW-, after adding some 3,250 new MW in the last 12 months, as reported by the company to the National Securities Market Commission (CNMV). In doing so, it will continue to promote self-sufficiency, electrification and, consequently, greater energy and economic efficiency for all consumers.

Thanks to its renewable production, which is close to 80 billion kWh, 6.3% more than the previous year, the company avoids releasing nearly 14 million tons of CO2 into the atmosphere. That is equivalent to the emissions of 1 million cars driving 100,000 km each.

Excluding Brazil, affected by the hydroelectric situation, renewable production increased by 10%. In Spain, renewable production grew by 24% in the year. Hydroelectric reserves increased by 13% to 6,298 GWh.

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Given the company's commitment to renewable energies, the Group generates 100% emission-free energy in countries such as the United Kingdom, Brazil, France, Italy, Germany, Poland, Portugal, Greece, Romania and Bulgaria. Emission-free production reaches 87% in Spain.

Leading the way in clean energy
Iberdrola has strengthened its global leadership in wind energy after reaching 22,676 MW installed at the end of the year, 6% more than in 2022. The company has 20,883 MW in onshore wind power, after adding 655 new MW.

Thanks to an investment of close to 6 billion euros, Iberdrola has connected to the grid a new offshore wind farm in France (Saint-Brieuc), the first large-scale wind farm in Brittany, and this year will start up another off the coast of Massachusetts (Vineyard Wind), which will become the first offshore wind farm in the United States.

The growth in offshore wind is offsetting the lower production of onshore wind in countries such as the United Kingdom, where, after growing by 13% in the year, offshore wind now accounts for 50% of total production.

Iberdrola Energía Internacional's commitment to offshore wind power in Germany and France led to a 28% increase in production in the quarter, which now accounts for 10% of the Group's total renewable production in the period.

In addition, the company continues to increase its hydroelectric storage capacity: 160 MW have been added corresponding to the last dam of the Alto Támega complex (Portugal), which constitutes the company's largest gigabattery. Thanks to this, Iberdrola now has 100 million kWh of storage, equivalent to supplying 24 million homes for about 12 hours, which allows it to integrate a growing flow of clean energy, promote greater electrification and continue to provide the best service to its customers 24 hours a day, 365 days a year.

Iberdrola has continued to offer a quality service to the 100 million people it supplies energy to around the world.

 


Iberdrola S.A