Spain leads as Iberdrola’s renewables capacity increases in Q1 2023

Spain leads as Iberdrola’s renewables capacity increases in Q1 2023

(IN BRIEF) Spanish utility company Iberdrola reported an 11% increase in its global renewable energy production during Q1 2023. The company’s renewable energy production reached 24,137 GWh in the first three months of the year, while its installed capacity surpassed 40,000 MW, an increase of 5.3%. The growth was largely due to new solar PV installations in Australia, Spain, the US and Brazil, with photovoltaic capacity up by 40% to 4,576 MW, and onshore wind up by 4% to 20,202 MW. Spain saw the largest increase in renewables capacity with 644 MW of new capacity added, while Brazil added 549 MW and the US installed 357 MW of new renewable energy.

(PRESS RELEASE) BILBAO, 15-Apr-2023 — /EuropaWire/ —Iberdrola’s investments in renewables have increased the group’s energy production and installed capacity in the first quarter of the year. The data sent today to the CNMV shows an increase of 11 % in the group’s global renewable energy production, reaching 24,137 gigawatt hours (GWh) in the first quarter of the year.

The company exceeded 40,000 MW of installed renewables capacity, reaching 40,344 MW, which is an increase of 5.3 %. Total capacity was above 61,000 MW.

By technologies, photovoltaic capacity rose by 40 %, to 4,576 MW, due to new installations in Australia, Spain, the United States and Brazil. Onshore wind increased by 4 %, reaching 20,202 MW.

Geographically, Spain has seen the largest renewables capacity increase in the first quarter. Compared to the same period last year, 644 MW of new capacity has been added, mainly solar PV, contributing to a total renewables capacity of 19,953 MW in the country.

Brazil added 549 MW of new capacity, including the development of the Oitis wind farm and the Luzia photovoltaic plant. In the United States, the company reached 8,722 MW, with the installation of 357 MW of new renewable energy, including 200 MW of new solar in Oregon. Additionally, 489 MW of new clean capacity have been installed in other markets, with Australia contributing 250 MW.

ONE OF THE CLEANEST PORTFOLIOS IN THE WORLD

The greater contribution of renewable energy increases Iberdrola’s emission-free production ratio to 84%, rising to 90% in Spain. This ensures that the group maintains emissions levels at approximately two-thirds lower than those of its European counterparts.

In terms of installed capacity, the investments made by the company mean that more than 80% of its own capacity is emission-free, a percentage that exceeds 90% in the United States and Brazil, while the UK remains 100% green energy.

COMMITMENT TO ENERGY SELF-SUFFICIENCY

As presented at its Capital Markets Day last year, Iberdrola’s commitment to continue to support energy self-sufficiency and decarbonization in the markets where it operates will see clean energy capacity rise to 52,000 MW by the end of 2025. Across these three years, 12,100 MW of new green capacity will be installed – 3,100 MW of onshore wind, 6,300 MW of solar PV, 1,800 MW of offshore wind, 700 MW of batteries and 200 MW of hydro. The group already has 50% of the new capacity secured and around 95% of production will be contracted by 2025.

For 2030, the outlook presented at the Capital Markets Day anticipates a renewable generation capacity of 80,000 MW, with a total portfolio of 100,000 MW.

Iberdrola has committed to invest 17 billion euros between 2023-2025 in high-quality renewables projects with the best risk/return ratio. Of this amount, 46% will focus on offshore wind in France, Germany, the UK and the United States. Additionally, onshore wind will account for 25% of the investment, photovoltaic 24%, hydro 2% and batteries 3%.

Media Contact:

Tel: +34 91 784 32 32
comunicacioncorporativa@iberdrola.es

SOURCE: Iberdrola