Iberdrola achieved record installed capacity in renewable energy sources

Iberdrola remains steadfast in executing its strategy to spearhead the energy transition, expedite decarbonization efforts, and diminish reliance on fossil fuels. In the past year alone, the company has successfully installed nearly 3,000 MW of new renewable energy capacity, totaling 41,303 MW of renewable energy capacity by the end of September.

Due to substantial investments in renewable energy assets, Iberdrola achieved a notable 6.1% rise in global clean energy production from January to September this year compared to the corresponding period last year. Throughout the initial 9 months of this year, the company generated a total of 58,742 GWh of green energy.

Significant growth in photovoltaics

Over the past year, Iberdrola has seen remarkable growth in its photovoltaic capacity, soaring by 45.6% with an addition of 1,697 MW. Photovoltaic installations now constitute 13% (5,420 MW) of the total installed capacity within Iberdrola’s renewable energy project portfolio.

Remaining at the forefront of wind energy, Iberdrola has augmented its offshore project capacity by 28.6%, incorporating 360 MW of new installations. As of September this year, the company has achieved 1,618 MW in offshore wind farms. Notably, the completion of the Saint-Brieuc offshore wind farm, situated off the coast of Brittany, France, stands as a significant accomplishment, marking the region’s first large-scale offshore project and France’s second.

In the realm of onshore wind energy, Iberdrola recorded a 4.5% increase in installed capacity, adding 900 MW over the past year. Consequently, the company now boasts 20,764 MW of onshore capacity.

Additionally, during the third quarter of this year, Iberdrola successfully replaced the Dardanelos and Telepires hydroelectric power plants in Brazil.

Ambitious investment plan

Iberdrola is actively executing its ambitious investment plan valued at EUR 47 billion spanning 2023–2025, aimed at installing 52,000 MW of renewable energy by 2025. Within offshore wind energy, the company has outlined investments surpassing EUR 11 billion by 2026.

The integration of new renewable energy assets into Iberdrola’s global portfolio has propelled the zero-emission production rate to 81%. Across various regions, the company has achieved impressive emission-free generation capacity, boasting over 86% in Spain, 91% in the US, 88% in Brazil, and a complete 100% in the UK. Notably, Iberdrola maintains CO2 emissions at approximately 66% lower than its European counterparts, underscoring its commitment to sustainability and reducing carbon footprints.

Source: press release