For the modernisation and digitalisation electricity distribution network in Spain, Iberdrola and The European Investment Bank (EIB) have signed a new $649 million green loan agreement. This agreement contributes to the development of the ambitious network investment plan that i-DE Iberdrola’s Spanish distributor will develop between 2021 and 2023.
- This agreement supports the development, modernisation and digitalisation of the companys electricity distribution networks in several Spanish regions.
- The EIB support will allow Iberdrola to improve the reliability, efficiency and security of the distribution of a renewable and sustainable energy supply.
- The implementation of this investment plan of i-DE will drive the green recovery of the economy and employment, making it possible for around 10 000 jobs per year to be maintained in Spain during the implementation period
The prominent expansions and deals by Iberdrola are featured below:
May 2021: In order to promote decarbonisation Iberdrola and Mitsubishi Power have signed a collaboration agreement to jointly develop competitive, clean and safe energy. The alliance will develop green hydrogen production facilities to promote sustainable energy in the world.
March 2021: In order to boost sustainable energy in Japan, Iberdrola has increased its commitment with a new 600-MW offshore wind project. Iberdrola has signed agreement with Japanese developer Cosmo Eco Power (a subsidiary of Cosmo Energy Holdings Co. Ltd.) and engineering firm Hitz to jointly develop the Seihoku-oki project.
Feb 2021: ScottishPower Renewables (SPR) a subsidiary of Iberdrola, has selected Siemens Gamesa Renewable Energy (SGRE) as the preferred bidder to supply and install offshore wind turbines for its East Anglia Hub programme.
Oct 2020: The leading energy company Iberdrola announced that its subsidiary Avangrid agrees to acquire an energy holding company PNM for approximately $4.3 billion.
July 2020: The leading fertilizer company Fertiberia had signed an agreement with energy company Iberdrola to construct the largest plant to produce green hydrogen for industrial use in Europe with an investment of approximately $170 million.
May 2020: Iberdrola announced that it signed an agreement for the acquisition of Aalto Power, a French renewable energy company for approximately $108 million. Aalto Power already has 118 megawatts (MW) of onshore wind generation operating in France.
May 2020, Iberdrola Clientes, Iberdrola Group’s company in Spain, had produced a million masks, 20,000 pairs of protective goggles and 5,390 medical gowns, which will be distributed among their units during the coming days. The company has proceeded in compliance with ministry guidelines.
March 2020, Iberdrola donated 22 million in protection and medical supplies to Spains health service. Specifically, the company has acquired 450 ventilators, 4.6 million masks, 120,000 protective coveralls and 20,000 pairs of protective eyewear by signing four major contracts with Chinese companies.
February 2020, Iberdrola expanded in Spain with the construction its first photovoltaic plant in Aragon, with 50 MW of installed power, located in the municipality of Azaila, in Teruel province.
Iberdrola, headquartered in Bilbao, Spain, is a one of the world’s biggest electricity utilities firm. The company is a global energy leader, the number-one producer of wind power. The company supplies energy to almost 100 million people in dozens of countries, has more than 600,000 shareholders, a workforce comprising more than 35,000 employees.
The European Investment Bank Group, is an international financial institution, headquartered in Luxembourg. It is a bank of European Union. The EIB Group has two parts- the European Investment Bank(EIB) and the European Investment Fund(EIF). The EIB is the lending arm of 27 members European Union. The EIF support SMEs, and it work through financial intermediaries in the Member States and in partnership with national promotional banks. EIB helps in creating jobs and improving lives for EU citizens and also helps people in developing countries.