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

IBERDROLA, S.A.

(IBE)
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Iberdrola S A : takes part in the New York wind power auction with its Liberty Wind offshore project

10/23/2020 | 08:05am EST

NewsBack

22/10/2020

Further advances towards leadership in this technology

Iberdrola takes part in the New York wind power auction with its Liberty Wind offshore project

Ignacio Galán, presidente de Iberdrola, durante una visita al parque eólico marino Wikinger, en aguas alemanas del mar Báltico

  • The offer was put forward through its subsidiary Vineyard Wind and would mean putting 1,300 MW off offshore wind power into operation
  • This new installation could supply clean energy to 700,000 homes in the state and contribute towards New York's commitment to the creation of green jobs

Iberdrola, through Vineyard Wind, has taken part with its Liberty Wind project in the second auction of wind power held by New York State. Specifically, this development would entail putting into operation a total capacity of up to 1,300 megawatts (MW), which could supply clean energy to around 700,000 New York homes and businesses.

The proposal presented by the company to develop Liberty Wind offers six options for the development of this large facility. One of them, as it has been proposed, would represent the greatest commitment of direct economic benefit that has ever been considered in the US offshore wind sector. In this way, Liberty Wind would help reinforce New York's leadership in creating green jobs and equal opportunities.

Along these lines, the recent request for proposals by the New York State Energy Research and Development Authority (NYSERDA) is part of the state's general effort to achieve 9,000 MW of offshore wind power generation by 2035.

'We are pleased to bring Liberty Wind closer to New York legislators and look forward to building on broad community participation that is the hallmark of our US offshore wind business', said Lars T. Petersen, CEO of Vineyard Wind. 'As pioneers of offshore wind power in the country, we believe that setting positive precedents for development will bring new and better standards to the entire industry - standards that ensure that local communities receive the greatest possible benefits with minimal impacts', he added.

Iberdrola, aiming for world leadership in offshore wind power

Iberdrola continues to advance towards global leadership in offshore wind energy, keeping ahead of the game as it did with onshore wind power 20 years ago. The group, led by Ignacio Galán has a portfolio of some 13,000 MW in offshore rights, to which are added the 9,000 MW of options in Sweden. As of the end of the third quarter of 2020, the company has added 14,000 new MW to its portfolio - of which approximately 90% is offshore wind - which now exceeds more than 70,000 MW globally.

At the end of September, Iberdrola had an installed capacity of this technology of 1,258 MW, with facilities such as East Anglia ONE, in the United Kingdom, and Wikinger, in German waters of the Baltic Sea.

In the United States, the group, through Vineyard Wind, is making progress with the Vineyard Wind ONE marine farms (800 MW of capacity off the coast of the state of Massachusetts), Park City Wind (also in Massachusetts waters and with a capacity of 804 MW), and Kitty Hawk (Virginia), at a more preliminary phase.

Disclaimer

Iberdrola SA published this content on 22 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 October 2020 12:04:04 UTC


© Publicnow 2020
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Financials
Sales 2020 36 428 M 43 412 M 43 412 M
Net income 2020 3 728 M 4 443 M 4 443 M
Net Debt 2020 40 113 M 47 804 M 47 804 M
P/E ratio 2020 19,5x
Yield 2020 3,70%
Capitalization 69 203 M 82 394 M 82 471 M
EV / Sales 2020 3,00x
EV / Sales 2021 2,93x
Nbr of Employees 35 816
Free-Float 94,7%
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 11,26 €
Last Close Price 11,30 €
Spread / Highest target 15,1%
Spread / Average Target -0,33%
Spread / Lowest Target -23,9%
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Managers
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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