Iberdrola scales up wind and solar projects

Iberdrola scales up wind and solar projects

As a global energy leader, Iberdrola SA is the number one utility of wind power and one of the world’s biggest electricity utilities in terms of market capitalization. The company accompanies the energy transition towards a sustainable energy strategy to face the challenges of climate change and the requirement for a clean and reliable business model. The company has set itself a target to be carbon neutral in Europe by 2030 and to reduce the CO2 emissions globally to 50g/kWh by the end of the decade. Already today Iberdrola generates 100% of its energy with zero emissions in countries such as Germany, Portugal, and the United Kingdom.

In this decade, the company invests €150 billion to triple the renewable capacity until it will operate carbon neutral globally by 2050. On Oct. 11, 2020, South Australia achieved a global milestone, as it was powered solely by solar energy. 100 per cent of energy demand was satisfied by solar energy for just one hour on this day. One of the power companies that made this possible was Iberdrola.

Last year Iberdrola Renewables Australia announced that it had entered into a bid implementation agreement with Infigen Energy Limited and Infigen Energy RE Limited to expand its global footprint in renewable energies. Infigen owns among others onshore wind generation facilities with an installed capacity of 670 MW and a portfolio of wind and solar projects in different stages of development for a total capacity of more than 1 GW.

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Iberdrola’s stock chart