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

IBERDROLA

(IBE)
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Iberdrola : to Replace Remaining Coal-Fired Power Plants With Renewables

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12/02/2019 | 05:08am EST

By Maitane Sardon

Iberdrola SA (IBE.MC) said Monday that it will replace its two remaining coal-fired power plants with renewable energy projects as it works toward aligning its activities with the Paris Agreement on climate change.

The Spanish energy company's Chairman and Chief Executive Ignacio Galan said at the 25th summit of the United Nations Climate Change Conference that Iberdrola will close its last remaining coal power plants in the Spanish towns of Velilla and Lada, which have a combined capacity of 874 megawatts and are scheduled to be decommissioned in 2020.

The company will replace the plants with wind and solar parks with a capacity of up to 500 megawatts and will relocate all the existing workforce. Some of the employees will work in renewable energy facilities and some will undertake decommissioning works in the coal-fired plants, it said. Iberdrola expects the decommissioning works to last four years and said the sites where the coal mines are will undergo a landscape restoration.

Write to Maitane Sardon at maitane.sardon@wsj.com

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Financials (EUR)
Sales 2019 38 252 M
EBIT 2019 5 987 M
Net income 2019 3 332 M
Debt 2019 35 959 M
Yield 2019 4,32%
P/E ratio 2019 16,5x
P/E ratio 2020 15,4x
EV / Sales2019 2,40x
EV / Sales2020 2,37x
Capitalization 55 929 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 9,34  €
Last Close Price 8,79  €
Spread / Highest target 32,4%
Spread / Average Target 6,24%
Spread / Lowest Target -13,6%
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Managers
NameTitle
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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