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

IBERDROLA

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Iberdrola : starts formalities to develop its first 350 MW photovoltaic plants in Castilla y Leon

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12/20/2019 | 08:44am EST

Iberdrola is continuing to invest in clean energy in Spain, and has just started processing the formalities for its first two photovoltaic projects in Castilla y Leon, which will be located in Ciudad Rodrigo (300 MW) and in Villarino (50 MW) in the province of Salamanca.

These new solar plants will further establish Iberdrola's leadership in Spain, particularly in Castilla y Leon, where it already manages more than 5,100 MW of hydraulic and wind plants, making this the company's number-one region in terms of green megawatts installed.

The photovoltaic plant in Ciudad Rodrigo, which is expected to be built in 2021, will consist of 826,200 solar panels and will create jobs for 800 workers at the height of the building activity. The company's investment in solar generation in this region will also include another photovoltaic plant (50 MW) in Villarino de los Aires and Trabanca, Salamanca.

As well as these initiatives, Iberdrola has also secured grid access for a further 500 MW renewable power capacity, consisting of a large wind farm (300 MW) and a 200 MW photovoltaic plant.

RENEWABLE INVESTMENT STRATEGY 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.

At present, and with these processes under way, Iberdrola's projects under construction or in the pipeline -wind and photovoltaic- in Spain total more than 4,000 MW in regions such as Extremadura, Castilla-La Mancha, Castilla y Leon, Navarra, Aragon, Andalusia, Murcia, Cantabria and Andalusia.

In Castilla y Leon, Iberdrola operates more than 5,100 MW of hydraulic and wind generation facilities. Among its most recent activities in the region is the acquisition of the BaCa wind complex (Ballestas and Castona), with an installed capacity of 69.3 MW. These facilities have just come on stream and their output will provide clean energy to the equivalent of 25,200 homes per year, preventing the emission of 40,000 tonnes of CO2 a year.

In Spain, Iberdrola is the leader wind developer -with an installed capacity of more than 5,800 MW- and renewable energy leader, with 16,000 MW installed (over 30,300 MW worldwide), making its generation fleet one of the cleanest in the energy sector.

Iberdrola's choice of a decarbonised economic model has entailed investments of almost EUR10bn euros a year around the world, having allocated almost EUR100bn in this area 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 3,41%
P/E ratio 2019 21,0x
P/E ratio 2020 19,4x
EV / Sales2019 2,86x
EV / Sales2020 2,78x
Capitalization 72 143 M
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Average target price 9,93  €
Last Close Price 11,18  €
Spread / Highest target 9,41%
Spread / Average Target -11,1%
Spread / Lowest Target -32,0%
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José Ignacio Sánchez Galán Chairman, President & Chief Executive Officer
José Sáinz Armada General Director-Finance & Resources
Fernando Lucero Batalla Head-Information Technology & Finance
Íñigo Víctor de Oriol Ibarra External Director
Samantha Catherine Barber Independent Director
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