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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Iberdrola, S.A.    IBE   ES0144580Y14

IBERDROLA, S.A.

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Iberdrola S A : puts the Puylobo wind farm in Aragon into operation

12/01/2020 | 05:42am EST

NewsBack

30/11/2020

A doubling of the renewable commitment in the region with 500 new 'green' MW

Iberdrola puts the Puylobo wind farm in Aragon into operation
  • Its construction, in record time and during the pandemic, has involved 120 workers. The civil works have been done by Aragonese firms, and many of the turbine components were manufactured in Spain
  • Part of the plant's production will supply green energy to the 13,500 supply points of Vodafone's own network in Spain

Iberdrola continues to make progress with its investment plans in renewables to keep driving the energy transition forward, and with it the recovery of the economy and employment. This is the background for the commissioning of the Puylobo wind farm, in the province of Zaragoza, following its completion in the record time of eight months during the pandemic.

Located in the province of Zaragoza, in the municipalities of Borja and Mallén, the project has 49 MW of installed power and comprises fourteen SG 3.4-132 wind turbines, a model with a 64.5 m long blade, optimal for medium and high wind locations. The entry into operation of Puylobo will avoid the annual emission of 19,000 t/CO2 and part of its output will supply 100% renewable energy to the 13,500 supply points of Vodafone's own network in Spain as from January, as a result of the long-term Power Purchase Agreement (PPA) signed by the two companies.

The construction of the wind farm has involved over 120 workers with a significant local contribution: civil works by local companies, and many of the turbine components - towers, nacelles, generators, gears and transformers - have been manufactured in Asturias, Cantabria, Soria and Burgos.

Puylobo marks the completion for Iberdrola over the last year and a half of 122 renewable megawatts (MW) in Aragon, including the El Pradillo wind farm (23 MW), in Zaragoza - operational since January - and its first photovoltaic plant (Azaila) of 50 MW, which is nearing completion in Teruel. This takes the company to nearly 500 renewable MW installed in the region.

A doubling of the renewable commitment with 500 green MW in progress

Aragon is one of the regions in which Iberdrola has decided to keep investing, doubling its renewable commitment in recent years, with nearly 500 green MW in progress. These are the Peñaflor, Fuendetodos and Escatrón photovoltaic plants, plus a co-developed wind power installation in Pancrudo, Teruel. All the projects have connection access and environmental analysis.

Additionally, Iberdrola intends to develop wind and photovoltaic projects of 700 MW installed capacity in various areas of the region.

Green investment to promote the recovery of the economy and employment

Iberdrola is convinced that the energy transition can act as a key vector in the transformation of the industrial fabric and the green recovery of the economy and employment. With this in mind, Iberdrola has launched a historic investment programme worth €75bn for 2020-2025, with the aim of doubling its renewable capacity and taking advantage of the opportunities provided by the energy revolution that the world's major economies are facing.

Investments for Spain for the period amount to nearly €14.3bn, half of which - over €7bn - will be earmarked for new renewable projects, while €4.5bn will go towards fortifying and continuing to digitalise the electricity grids.

After 20 years promoting the energy transition in Spain, Iberdrola leads in renewable energy in the country, with an installed renewable capacity exceeding 16,700 MW at September 2020 - an amount that rises to more than 33,000 MW worldwide, making its generation facilities among the cleanest in the energy sector.

With CO2/kWh emissions already two-thirds below the European average, the investment strategy in networks and clean energy will make Iberdrola a 'carbon neutral' company in Europe by 2030.

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About Iberdrola

Iberdrola is a global energy leader, the number one producer of wind power and one of the world's biggest electricity utilities in terms of market capitalisation. The Group supplies energy to almost 100 million people in dozens of countries including Spain, the United Kingdom (ScottishPower), the United States (AVANGRID), Brazil (Neoenergia), Mexico, Australia (Infigen), Germany, Portugal, Italy and France. With a workforce of more than 35,000 and assets in excess of €122 billion, it recorded a turnover of over €36.4 billion and a net profit of over €3.4 billion in 2019.

Iberdrola is leading the transition towards a sustainable energy model through its investments in renewable energy, smart grids, large-scale energy storage and digital transformation in order to offer the most advanced products and services possible to its customers. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark as a result of its contribution to the fight against climate change and for sustainability.

Disclaimer

Iberdrola SA published this content on 30 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2020 10:36:03 UTC


© Publicnow 2020
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Sales 2020 36 447 M 44 036 M 44 036 M
Net income 2020 3 732 M 4 509 M 4 509 M
Net Debt 2020 39 983 M 48 309 M 48 309 M
P/E ratio 2020 20,5x
Yield 2020 3,51%
Capitalization 73 002 M 88 262 M 88 203 M
EV / Sales 2020 3,10x
EV / Sales 2021 3,05x
Nbr of Employees 35 816
Free-Float 94,3%
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Number of Analysts 26
Average target price 11,60 €
Last Close Price 11,92 €
Spread / Highest target 21,7%
Spread / Average Target -2,62%
Spread / Lowest Target -27,8%
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Managers and Directors
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
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