Spanish Iberdrola invests €75 billion in renewables

Spanish energy group Iberdrola plans to build 28 GW of renewable energy power plants by 2025, Ecotown reports.

The producer launched an investment plan worth €75 billion.

“The capacity of power plants using renewable energy will increase from 32 GW in 2019 to 60 GW in 2025,” said CEO Ignacio Galán during Capital Markets Day. “In 5 years, we will have onshore wind farms with a capacity of 26 GW, solar stations – 16 GW, hydroelectric power plants – 14 GW, and offshore wind farms with a capacity of 4 GW.”

By 2030, the company plans to increase the capacity of renewable power plants to 95 GW.

“Nearly €35 billion (51%) will be allocated to renewable energy and €27 billion (40%) for the grid,” explains Ignacio Galán. “This investment will allow us to increase our net profit from €3.4 billion in 2019 to €5 billion in 2025.”

It is estimated that 34% of all investments will be made in the United States. The USA and Great Britain (16%) will have €34 billion of investments (50% of the total).

Iberdrola plans to increase investments in Spain by 60% compared to the previous plan to €14.3 billion (21% of the group's total), of which €7 billion in renewable energy and €4.5 billion in the grid. Brazil will receive 11%, which equals €8.3 billion, and Mexico will receive 2%.

Besides, Iberdrola intends to increase the number of contracts with customers worldwide and install 600 MW of hydrogen capacity by 2025 (800 MW by 2027 together with Fertiberia).

Recall that a wind park will be built on the largest lake in Sweden.

Tags: renewable energy, solar energy, wind energy, EU, investments, ecology, водородная стратегия

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