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

03/04/2020 10:30 Renewable

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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.

Source: renews.biz

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