COVID-19: Iberdrola ‘will stick to 9GW expansion plan’

03/04/2020 10:30 Renewable


Renewables heavyweight Iberdrola will stick to its investment strategy to build 9GW of new capacity over the coming years and is accelerating €3.8bn in procurement orders to support the supply chain during the COVID-19 pandemic.

The Spanish utility will shell out €10bn in 2020 as part of its multi-year spending programme that will see 4.5GW of new projects, which are currently in construction, delivered by the year-end, said chairman Ignacio Galan (pictured) in a bullish update at the company’s AGM.


Some 30 solar projects, 50 onshore wind farms and a slew of offshore projects like Saint-Brieuc in France and Baltic Eagle in Germany are part of a further pipeline of 4.5GW that is advancing in the face of the public health crisis, he said.


Galan laid out an ambitious procurement plan to give visibility to the entire supply chain that will, he hopes, promote economic activity and jobs during the pandemic.


Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.

06/07/2020 10:40:00

Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.


Swinoujscie terminal receives 100th LNG shipment

06/07/2020 10:05:00

The Swinoujscie gas terminal in north-western Poland received its 100th liquefied natural gas cargo on Friday. The 90,000 tonnes LNG shipment came from Qatar Liquefied Gas Company Limited (Qatargas) aboard the Al-Safliya LNG tanker.


Russia's Novak sees global oil output cuts easing from August

06/07/2020 09:56:00

Russian Energy Minister Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.