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

IBERDROLA, S.A.

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Iberdrola : to start construction of green hydrogen plant in Spain

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07/24/2020 | 09:38am EDT
The logo of Spanish utility company Iberdrola is seen outside its headquarters in Madrid

Spanish utility Iberdrola said on Friday it is set to start construction on the largest green hydrogen plant for industrial use in Europe.

In partnership with chemical manufacturer Fertiberia, the project will be based in Puerollano, central Spain, and consist of a 100 megawatt solar photovoltaic plant and hydrogen production system which will use electrolysis to convert renewable energy into hydrogen fuel.

The hydrogen produced will be used at the Fertiberia ammonia factory in Puertollano to help make fertilisers, the company said.

The investment will total 150 million euros (136 million pounds).

The plant should be operational by 2021 and cut 39,000 tonnes of carbon dioxide emissions a year.

Hydrogen has been touted as a clean alternative to fossil fuels. When it is extracted from water with electrolysis powered by renewable energy, it is called "green" hydrogen and it is still costly at around $6/kg today.

Earlier this month, the EU launched a strategy to promote green hydrogen as it tries to reach net zero emissions by 2050.

(Reporting by Nina Chestney, editing by Louise Heavens)


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Financials
Sales 2020 36 783 M 42 944 M 42 944 M
Net income 2020 3 736 M 4 361 M 4 361 M
Net Debt 2020 39 559 M 46 185 M 46 185 M
P/E ratio 2020 17,7x
Yield 2020 4,06%
Capitalization 62 617 M 73 014 M 73 104 M
EV / Sales 2020 2,78x
EV / Sales 2021 2,69x
Nbr of Employees 35 816
Free-Float 94,7%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 11,05 €
Last Close Price 10,22 €
Spread / Highest target 24,3%
Spread / Average Target 8,10%
Spread / Lowest Target -15,9%
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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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