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    IBE   ES0144580Y14

IBERDROLA, S.A.

(IBE)
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Iberdrola S A : to plough $8.2 billion into mega UK offshore wind farm

10/18/2021 | 05:52pm EST
FILE PHOTO: The logo of Spanish power company Iberdrola is seen on top of Iberdrola's main office building in Madrid

MADRID (Reuters) - Global wind power leader Iberdrola will pour six billion pounds ($8.24 billion) into a wind farm complex in the North Sea off the east coast of Britain, in its biggest project investment worldwide, it said on Monday.

Iberdrola said in a statement it would foot the bill for the East Anglia Hub site, whose soaring turbines will have capacity to generate 3.1 gigawatts of electricity, enough to power more than 2.7 million homes.

Positioning turbines in the sea allows generators to capture high wind speeds free of any of the barriers present on land and is a key component in the decarbonisation plans of some of the world's biggest economies.

The investment is contingent on Britain giving planning permission for the site, and contracts for difference, which guarantee a minimum price for the electricity it generates.

It adds to the 10 billion pounds Iberdrola has already pledged to invest in Britain between 2020 and 2025.

Britain aims to have installed 40 GW of offshore wind capacity by 2030, up from its current 10.4 GW. Iberdrola trades in Britain through Scottish Power, which it bought in 2007.

Green Investment Group, an arm of Australian bank Macquarie owns 40% of one of the parks within the East Anglia Hub.

($1 = 0.7280 pounds)

(Reporting by Isla Binnie, Editing by William Maclean)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
IBERDROLA, S.A. 1.58% 10.06 Delayed Quote.-15.35%
MACQUARIE GROUP LIMITED -0.53% 195.69 End-of-day quote.41.31%
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Financials
Sales 2021 37 528 M 42 490 M 42 490 M
Net income 2021 3 596 M 4 071 M 4 071 M
Net Debt 2021 43 290 M 49 014 M 49 014 M
P/E ratio 2021 17,4x
Yield 2021 4,42%
Capitalization 62 124 M 70 355 M 70 338 M
EV / Sales 2021 2,81x
EV / Sales 2022 2,72x
Nbr of Employees 39 569
Free-Float 96,6%
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Number of Analysts 26
Last Close Price 9,90 €
Average target price 11,62 €
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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
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