Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Iberdrola    IBE   ES0144580Y14

IBERDROLA

(IBE)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Iberdrola : Clean technology projects line up bids for $1 billion EU support

share with twitter share with LinkedIn share with facebook
07/03/2020 | 01:00pm EDT
FILE PHOTO: European Commission vice-president in charge of European Green Deal, Frans Timmermans, speaks during a news conference on Green and Just Recovery at the European Commission headquarters in Brussels

By Kate Abnett

Clean technology projects are readying bids for a billion-euro support package from the European Union under a flagship scheme for funding breakthrough low-carbon technologies.

The EU Innovation Fund will support projects such as floating wind farms, carbon capture mechanisms and energy storage, all of which could help clean up sectors such as cement and steelmaking.

"These large-scale investments will help restart the EU economy and create a green recovery that leads us to climate neutrality in 2050," EU climate chief Frans Timmermans said.

The European Commission on Friday invited projects to bid for 1 billion euros (901.96 million pounds) in grants from the fund, which is fed by EU carbon market revenues.

Further funding will follow over the next decade. The fund's size will depend on the EU carbon price. At current prices, it would be worth roughly 12 billion euros.

Spain-based renewable energy giant Iberdrola told Reuters it was working on submitting various projects.

These include generating hydrogen from renewable sources and energy storage systems that help integrate renewables into the grid, Chief Innovation and Sustainability Officer Agustin Delgado told Reuters.

Waste-to-energy company Fortum Oslo Varme told Reuters it would apply for funds to install carbon capture and storage (CCS) technology at its facility in Oslo, Norway, if the project does not secure enough support from the Norwegian government.

The cost of using CCS to reduce emissions is substantially higher than the price EU companies pay for their CO2 emissions, said, Jannicke Bjerkas, the company's CCS director.

"The Innovation Fund will be crucial to help close the gap when developing these early-phase projects," she said.

The 4.3 billion Norwegian crown (363.92 million pounds) project, which is part of a bigger 13.1 billion crown CCS initiative, aims to capture 90% of the waste-to-energy facility's emissions, roughly 400,000 tonnes of CO2 each year.

In a letter to Fortum Oslo Varme in May, seen by Reuters, the Norwegian government said state support was not guaranteed and encouraged the project to apply to the EU Innovation Fund.

(Reporting by Kate Abnett, additional reporting by Isla Binnie, editing by Marine Strauss and Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
FORTUM OYJ 2.13% 17.765 Delayed Quote.-20.91%
IBERDROLA -0.14% 10.85 End-of-day quote.18.19%
share with twitter share with LinkedIn share with facebook
Latest news on IBERDROLA
08/05IBERDROLA : The Company reports the Regulations of the Board of Directors
PU
08/05IBERDROLA : La sociedad remite el reglamento del Consejo de Administración
PU
08/03IBERDROLA : contributes to the economic development of Asturias with investments..
PU
08/02Australia's Infigen forecasts "materially lower" earnings
RE
07/31AVANGRID : Management's Discussion and Analysis of Financial Condition and Resul..
AQ
07/31Nordex close to selling European development pipeline to RWE
RE
07/31IBERDROLA : is ramping up investment as part of its drive to support industry an..
PU
07/30IBERDROLA : SEAT, Iberdrola and Volkswagen Group Espana Distribucion join forces..
AQ
07/30IBERDROLA : SEAT, Iberdrola & VGED agreement
AQ
07/30IBERDROLA : SEAT and Volkswagen Group Spain Distribution join forces to boost el..
AQ
More news
Financials
Sales 2020 37 493 M 44 170 M 44 170 M
Net income 2020 3 777 M 4 449 M 4 449 M
Net Debt 2020 40 061 M 47 196 M 47 196 M
P/E ratio 2020 18,5x
Yield 2020 3,85%
Capitalization 67 704 M 80 199 M 79 761 M
EV / Sales 2020 2,87x
EV / Sales 2021 2,79x
Nbr of Employees 35 058
Free-Float 97,1%
Chart IBERDROLA
Duration : Period :
Iberdrola Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends IBERDROLA
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 10,51 €
Last Close Price 10,85 €
Spread / Highest target 17,1%
Spread / Average Target -3,13%
Spread / Lowest Target -29,0%
EPS Revisions
Managers
NameTitle
José Ignacio Sánchez Galán Chairman, President & Chief Executive Officer
José Sáinz Armada Chief Financial & Resources Officer
Fernando Lucero Batalla Head-Information Technology & Finance
Íñigo Víctor de Oriol Ibarra External Director
Samantha Catherine Barber Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
IBERDROLA18.19%80 199
NEXTERA ENERGY16.79%138 477
ENEL S.P.A.9.30%93 078
DOMINION ENERGY, INC.-3.85%66 830
DUKE ENERGY CORPORATION-7.67%61 882
SOUTHERN COMPANY-16.17%56 915