Spain's Iberdrola to add 9 GW of generating capacity in next two years

27/02/2020 09:20 Renewable


Spain's Iberdrola said Wednesday it intends to continue its renewable capacity surge over the next two years as it increases its capital expenditure to record levels following the successful sale of assets ahead of schedule.

The company plans to bring online 4 GW of new generating capacity in 2020 and 5 GW in 2021 towards a total of 13 GW by 2022, building on 5.5 GW installed in 2019. This compares with an average of 1 GW in recent years, CEO Ignacio Sanchez Galan said.


The company said it will hike investment to Eur10 billion ($10.9 billion) in 2020, up from Eur8.2 billion in 2019, and 40% higher than the average of the last three years, he said.


This followed the early raising of capital from asset sales, including the disposal of the company's 8% stake in wind turbine group Siemens Gamesa last month for Eur1.1 billion, which took overall disposals to Eur4.6 billion -- ahead of its target of Eur3.5 billion by 2022.


The company was also been successful with green financing last year, leading the world in the placement of private green bonds, with Eur4 billion issued in 2019.


Daily (07.07.2020): The German Cal’21 power climbed to a 20-week high on Monday, keeping the pace with EUAs above 30 Eur

07/07/2020 11:11:00

Crude oil futures edged higher on Monday, supported by a string of data showing an economic recovery across the globe and amid improving OPEC+ compliance. However, oil continued to be pressured by the surging coronavirus cases. Hence, Brent crude from September delivery rose by 0.7%, or 30 cents, to settle at $43.10 a barrel. At the same time, U.S. WTI crude settled at $40.63 a barrel, up 1% day-on-day.


Equinor leads clean hydrogen plus CCS project in UK

07/07/2020 09:45:00

Norwegian state-controlled energy company Equinor ASA last week announced it is leading a project in the UK that combines hydrogen production and carbon capture and storage (CCS).


Enagas and BP partner on LNG, CNG as fuel in Spain

07/07/2020 09:36:00

Enagas and a unit of BP have teamed up to promote the use of LNG and CNG as fuel for the transport sector in Spain as part of a move to reduce emissions.