Iberdrola announces €15.5 billion of renewable investments

Over 50% will go to offshore wind projects in the US, UK, France and Germany. 100% of the investment will go to projects currently in construction.

“The electrification of energy is unstoppable and will expand exponentially in the years ahead, supporting decarbonisation, boosting energy security, and reducing the volatility caused by fossil fuels. Customers are already driving this change. People are not returning to fossil fuels after they move to electric. Those who flip from petrol to EVs do not move back, likewise for customers replacing gas boilers with heat pumps,” said Ignacio Galan, Iberdrola’s Executive Chairman. “Our strategy will focus on delivering enhanced grid to support security of supply, now 60% of our total investment, as well as a strong expansion of renewables capacity, driven by the substitution of fossil technologies and additional demand. We also recognise an increasing role of storage technologies to preserve the balance between supply and demand 24 hours a day.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global’s Spring 2024 issue

The Spring 2024 issue of Energy Global starts with a guest comment from Field on how battery storage sites can serve as a viable solution to curtailed energy, before moving on to a regional report from Théodore Reed-Martin, Editorial Assistant, Energy Global, looking at the state of renewables in Europe. This issue also hosts an array of technical articles on electrical infrastructure, turbine and blade monitoring, battery storage technology, coatings, and more.

Read the article online at: https://www.energyglobal.com/wind/21032024/iberdrola-announces-155-billion-of-renewable-investments-by-2026/