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

IBERDROLA

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Iberdrola : Nunez de Balboa completed Iberdrola finalizes the construction of the largest photovoltaic plant in Europe within one year

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12/30/2019 | 08:45am EST

Iberdrola has completed in record time, in just one year, construction of the Nunez de Balboa project, which recently obtained its commissioning permit from the Ministry for Ecological Transition and for which Red Electrica de Espana (REE), the national grid, has started energisation tests. Based on these processes, the plant is forecast to start operations in the first quarter of 2020.

With the completion of Nunez de Balboa, with an installed capacity of 500 megawatts (MW) and an investment of nearly 300 million euros, Iberdrola moves forward in its plan to relaunch green energy in Spain, which envisages the installation of 3,000 MW by 2022, with Extremadura at the centre of its strategy.

Nunez de Balboa extends over an area of some 1,000 hectares (2,470 acres) straddling the municipalities of Usagre, Hinojosa del Valle and Bienvenida in the province of Badajoz. The plant, promoted in collaboration with Ecoenergias del Guadiana, is a flagship renewable project that has broken records

Millions of components: with the installation of 1,430,000 solar panels,115 inverters and two substations involving delivery of a total of 3,200 containers.

Job creation: it requires more than 1,200 employees during peak-work periods; 70% of them from Extremadura

Revitalising the industrial fabric: its construction has contributed to the development of the value chain, with purchases from some thirty suppliers, many of them local, worth 227 million euros.

Action against climate change: the plant will generate clean energy to supply the needs of 250,000 people a year equivalent to the populations of Caceres and Badajoz combined and will avoid the emission of 215,000 metric tons of CO2 into the atmosphere per year.

Project funded by green financing: for its development, Iberdrola received green financing from the European Investment Bank (EIB) and the Instituto de Credito Oficial (ICO), Spain's state financial agency.

Promoting sustainable consumption: A pioneer in Spain, with long-term Power Purchase Agreements (PPAs) in place, the project will supply clean energy to major clients committed to sustainable consumption in the banking, telecommunications and retail sectors.

Education and training on renewables: Iberdrola and the Municipalities of Usagre and Llerena are working together on training students of the Campina Sur Vocational School in Extremadura, with educational site visits and practical plant experience.

ANOTHER 1,300 MW IN RENEWABLES IN THE PIPELINE IN EXTREMADURA

Iberdrola has placed Extremadura at the centre of its renewable strategy in Spain, where it plans to install more than 2,000 MW of photovoltaic energy by 2022.

In addition to Nunez de Balboa (500 MW), the company has more than 1,300 MW in renewables in six pipeline photovoltaic projects: Francisco Pizarro (590 MW), located in Torrecillas de la Tiesa; Ceclavin (328 MW), in Alcantara; Arenales (150 MW), in Caceres; Campo Aranuelo I, II and III (150 MW), in the district of Almaraz and Majada Alata and San Antonio (50 MW each), in Cedillo. Furthermore it has 300 MW grid access available with which to plan another photovoltaic project.

Thanks to the regional administration's agility in processing renewable projects, construction of the next plant, the Campo Aranuelo complex (Aranuelo I, II and III), with 150 MW, will be able to start in early 2020. This development, which could create another 200 jobs during its construction. has a high level of local involvement, the engineering and environmental works having been awarded to Badajoz-based Ecoenergias del Guadiana and the power transformers being supplied by Faramax, of Caceres. The project also includes an energy storage system involving the use of an innovative battery.

PLAN TO RELAUNCH CLEAN ENERGY IN SPAIN

Iberdrola's plan to invest in renewable energies in Spain includes the installation of 3,000 new MW by 2022. By 2030, company forecasts point to the installation of 10,000 new MW. These actions will enable jobs to be created for 20,000 people.

Currently, the company's projects in construction and at the detail design stage wind and photovoltaic amount to more than 4,000 MW in Extremadura, Castilla-La Mancha, Castilla y Leon, Navarre, Aragon, Murcia, Cantabria and Andalusia.

In Spain, Iberdrola is the leader in renewable energies, with an installed capacity of 16,000 MW (over 30,300 MW worldwide), making its generation facilities some of the cleanest in the energy sector.

Iberdrola's commitment to a decarbonised economic model has led it to earmark 10 billion euros a year for investment in renewable energies, smart electricity distribution networks and storage technologies, on top of the 100 billion already invested since 2001.

Contact:

Juan Llobell

Tel: +34 91 784 32 32

Email: comunicacioncorporativa@iberdrola.com

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2019 38 065 M
EBIT 2019 5 987 M
Net income 2019 3 340 M
Debt 2019 36 610 M
Yield 2019 3,49%
P/E ratio 2019 20,5x
P/E ratio 2020 19,0x
EV / Sales2019 2,81x
EV / Sales2020 2,74x
Capitalization 70 530 M
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