Log in
E-mail
Password
Show 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
  1. Homepage
  2. Equities
  3. Spain
  4. Bolsas y Mercados Espanoles
  5. Iberdrola, S.A.
  6. News
  7. Summary
    IBE   ES0144580Y14

IBERDROLA, S.A.

(IBE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Iberdrola S A : awards installation of Baltic Eagle foundations and inter-array cables to Van Oord

07/23/2021 | 06:28am EDT

23 July 2021

PRESS RELEASE

Wind farm off the island of Rügen progresses as planned - ready for operation by the end of 2024

Iberdrola awards installation of Baltic Eagle foundations and inter-array cables to Van Oord

  • Commissioning will provide sustainable energy for 475,000 households, saving nearly one million tons of CO2
  • Iberdrola plans to have 1.1 GW of installed capacity in the German Baltic Sea by the end of 2026, a key market for the company

Iberdrola and Van Oord have signed a contract for the transportation and installation of Baltic Eagle's monopile foundations, as well as the supply, transportation and installation of the inter-array cables. With a production capacity of 476 MW Baltic Eagleoffshore wind farm will supply renewable energy to 475,000 households, while saving nearly one million tons of CO2 emissions each year. It is scheduled to be fully operational by the end of 2024.

Iris Stempfle, Country Manager for Iberdrola in Germany, said: "Iberdrola is one of the leading developers contributing to the energy transition by investing in offshore wind projects around the globe - in Germany, our Baltic Hub will have an installed capacity of 826 MW by the end of 2024. Tapping into the expertise of Van Oord yet again makes us confident that Baltic Eagle offshore windfarm will be delivered as planned."

Arnoud Kuis, Managing Director of Van Oord Offshore Wind, said: "We are very pleased to be working with Iberdrola again, this time on the Baltic Eagle project in the German Baltic Sea. Combining the installation of foundations and the supply and laying of cables will ensure efficient project execution."

For the installation of the 50 foundations, Van Oord is deploying its 8,000-ton heavy lift installation vessel Svanen which thus far has installed more than 700 foundations across Europe, including the vast majority of monopiles in the Baltic Sea. The offshore works for the Baltic Eagle project will start in 2023. Van Oord's cable laying vessel Nexus and trencher Dig-It will be deployed for the inter-array cable laying. Due to challenging soil conditions in the Baltic Sea, the trencher Dig-It will be customised to ensure proper execution of the cable laying works.

Offshore wind developments in the Baltic Sea

The Baltic Sea holds an incredible potential of 93,000 MW for offshore wind in Europe. Alongside Germany, several countries, such as Poland, Sweden and Estonia are exploring new opportunities for offshore wind developments. By 2024, Iberdrola's Baltic Sea Hub will comprise 826 MW (Wikinger with 350 MW in operation since 2017 and Baltic Eagle with 476 MW) and will act as a centre for offshore and onshore services, as well as providing local content for Iberdrola's projects in the Germany-Poland-Sweden axis. In the German Baltic

1

Internal Use

23 July 2021

PRESS RELEASE

Sea alone, Iberdrola is planning to increase installed capacity to more than 1,1 GW by end of 2026.

Iberdrola`s current offshore wind portfolio includes projects in the German Baltic Sea (Wikinger and Baltic Eagle), in the North Sea (East Anglia ONE and East Anglia Hub), the Irish Sea (West of Duddon Sands), the coast of Massachusetts (Vineyard Wind) and France (Saint Brieuc).

The significant expansion of the offshore wind pipeline over the past twelve months - 20,000 MW at the end of the first quarter of 2021 - bolstered by new growth markets with high potential, such as Japan, Poland, Sweden and Ireland, will enable the group to have 12,000 MW offshore wind in operation by 2030.

Green investments to promote economic recovery

Iberdrola believes that the energy transition can act as a key driving force in the transformation of industry, a green economic recovery and job creation.

With this focus Iberdrola has launched a major €75 billion investment plan for the 2020-2025 period, with the aim of doubling its renewable capacity and taking advantage of the opportunities created by the energy revolution in the world's major economies.

After twenty years driving the energy transition, with investments of over €120 billion, Iberdrola is a leader in renewable energy, with an installed capacity of more than 33 GW, making its generation fleet one of the cleanest in the energy industry.

With CO2/kWh emissions already two thirds lower than the European average, the investment strategy in clean energy and networks will lead Iberdrola to become carbon neutral in Europe by 2030.

About Iberdrola

Iberdrolais one of the world's biggest energy companies, a leader in renewables, which is spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. It carries out renewables, networks and commercial activities in Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia, and, as growth platforms, it is present in markets such as Japan, Ireland, Sweden and Poland, among others.

With a workforce of more than 37,000 and assets in excess of €122.5 billion, in 2020, it achieved a turnover of €33 billion and a net profit of over €3.6 billion. The company contributes to sustain 400,000 jobs along its supply chain, with ann ual procurement of €14 billion. A benchmark in the fight against climate change, it has allocated more than €120 billion over the last two decades to building a sustainable energy model, based on sound environmental, social and governance (ESG) principles.

Media Contact

Eduardo González +34 638 146 175 egonzalezf@iberdrola.es

2

Internal Use

Disclaimer

Iberdrola SA published this content on 23 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2021 10:27:03 UTC.


ę Publicnow 2021
All news about IBERDROLA, S.A.
09/21IBERDROLA S A : To Install EV Chargers In Leroy Merlin's Shops In Spain
MT
09/21IBERDROLA S A : to electrify Leroy Merlin shop car parks in Spain
PU
09/21IBERDROLA S A : Unit To Acquire Two Offshore Wind Projects In US
MT
09/21Iberdrola's Avangrid to Take Full Ownership of Two US Offshore Wind Projects
DJ
09/21AVANGRID, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhi..
AQ
09/21AVANGRID, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financia..
AQ
09/21S&P Expects Record Offshore Installations In Europe For 2021
MT
09/20IBERDROLA SA : Receives a Buy rating from Morgan Stanley
MD
09/20IBERDROLA SA : Goldman Sachs reiterates its Buy rating
MD
09/17Analysis-Europe's power firms locked out of record price bonanza
RE
More news
Analyst Recommendations on IBERDROLA, S.A.
More recommendations
Financials
Sales 2021 36 843 M 43 179 M 43 179 M
Net income 2021 3 614 M 4 235 M 4 235 M
Net Debt 2021 44 469 M 52 116 M 52 116 M
P/E ratio 2021 16,6x
Yield 2021 4,67%
Capitalization 57 640 M 67 542 M 67 553 M
EV / Sales 2021 2,77x
EV / Sales 2022 2,64x
Nbr of Employees 38 006
Free-Float 95,5%
Chart IBERDROLA, S.A.
Duration : Period :
Iberdrola, S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends IBERDROLA, S.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 9,33 €
Average target price 11,71 €
Spread / Average Target 25,4%
EPS Revisions
Managers and Directors
JosÚ Ignacio Sßnchez Galßn Chairman, President & Chief Executive Officer
JosÚ Sßinz Armada Chief Financial & Resources Officer
Fernando Lucero Batalla Head-Information Technology & Finance
Maria Dolores Herrera Pereda Compliance Director
Juan Carlos Rebollo Liceaga Group Director-Administration & Control
Sector and Competitors
1st jan.Capi. (M$)
IBERDROLA, S.A.-20.22%67 542
NEXTERA ENERGY6.18%160 256
ENEL S.P.A.-17.35%81 571
DUKE ENERGY CORPORATION8.82%76 657
SOUTHERN COMPANY4.12%67 722
DOMINION ENERGY, INC.-0.80%60 313