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Construction begins on subsea electricity superhighway

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Iberdrola announced that construction of the Eastern Green Link 1, a subsea electricity superhighway, has officially started.  The £2.5 billion project is a joint venture between SP Energy Networks and National Grid Electricity Transmission. It will transport renewable energy to power two million homes through over 190 km of undersea cables connecting Scotland and England. The project, approved by Ofgem last year, has now begun onshore construction, with offshore works scheduled to start in the…

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bp and Iberdrola begin construction of green hydrogen plant in Spain

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The joint venture (JV) between bp and Iberdrola España has commenced construction of a 25 MW green hydrogen plant in Spain.  The initial phase includes earthworks and the development of a 20,000 square meter plot of land next to the bp refinery in Castellón. The first major equipment, including electrolysers, will arrive and be installed in the second half of 2025. These electrolysers will produce green hydrogen by separating hydrogen and oxygen molecules from water…

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Iberdrola secures green loan for photovoltaic plant in Sicily

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Iberdrola has finalized a €100m ($103m) green loan agreement with the European Investment Bank (EIB), guaranteed by SACE under the Archimede scheme, to construct a new photovoltaic plant in Sicily, Italy.  This marks the first collaboration between the EIB and Iberdrola backed by SACE. The plant, expected to be operational by 2025, will have a capacity of 242.78MWp, producing 400GWh annually—enough to meet the energy needs of approximately 154,000 households.  Located in the provinces of…

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Kansai acquires stake in Windanker offshore wind farm in Germany

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Japanese utility Kansai Electric Power has entered into a share purchase agreement with Iberdrola to acquire a 49% stake in the Windanker offshore wind farm project in Germany.  Kansai’s subsidiary, Windanker Investco, will hold the stake, subject to approval from German authorities, while Iberdrola will retain the remaining 51%. This marks the beginning of Kansai’s collaboration with Iberdrola on international renewable energy projects. The Windanker project will be Kansai’s fifth offshore wind farm overseas, increasing…

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Iberdrola explores sale of UK smart metering business to raise £1bn

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Spanish utility Iberdrola is considering the sale of its UK smart metering business, aiming to raise £1 billion ($1.27 billion), according to Reuters. The company is working with the Royal Bank of Canada as an adviser on the deal, though the sale process is in its early stages and no deal is guaranteed. The potential sale is part of Iberdrola’s larger £24 billion investment plan for its UK arm, ScottishPower, which includes a focus on…

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Iberdrola secures licence for 274 MW wind project in Portugal

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Iberdrola has received a production licence from the Portuguese Directorate-General for Energy and Geology (DGEG) for a 274 MW wind project in Vila Real and Braga.  The project involves an investment of €350 million ($369 million) and will integrate with the Tâmega hydroelectric system. This marks Portugal’s first hybrid wind and hydro energy project, with a production capacity of 601 GWh annually. It is part of the Tâmega power plant system, which includes the Alto…

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Spain to build largest pumped storage hydro power plant in Europe

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Spain is set to become a leader in renewable energy with the construction of the continent’s largest pumped storage power plant.  Managed by Iberdrola, the Conso II project will be located in Ourense, Galicia, and will involve an investment of over 1.5 billion euros. The Conso II facility will feature an innovative design that connects two reservoirs using the region’s natural slope, allowing for efficient electricity generation.  With a capacity of 1,800 MW and the…

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ABL secures marine warranty survey contract for Iberdrola’s Windanker wind farm

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Energy and marine consultancy ABL, part of the ABL Group, has been awarded a contract to provide marine warranty survey (MWS) services for Iberdrola’s 315 MW Windanker offshore wind farm in the Baltic Sea, 25 km offshore Germany. ABL Germany, based in Hamburg, will oversee the offshore transportation and installation of foundations, inter-array cables, and wind turbine generators for the project, which will include 21 turbines, each with 15 MW capacity. Installation activities are planned…

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Iberdrola invests in RTS for insulation innovation, advances UK subsea cable project

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Iberdrola, through its Perseo start-up programme, has invested in Revestimientos Técnicos Sostenibles (RTS), an Andalusian company specializing in thermal insulation and anti-corrosion coatings.  The collaboration focuses on advanced materials such as cork, hollow ceramic microspheres, and aerogel for use in offshore wind structures and building renovations.  Iberdrola aims to incorporate these materials into the construction and maintenance of its offshore wind farms, enhancing energy efficiency and sustainability. RTS, based in Utrera, Seville, Spain, joins Iberdrola’s…

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Iberdrola acquires 88% stake in Electricity North West

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Iberdrola has finalized the acquisition of an 88% stake in UK-based Electricity North West (ENW), valuing the entire company, including debt, at €5 billion ($5.4 billion). ENW serves approximately 5 million people across northwest England, including Manchester and the Lake District, managing 60,000 km of distribution networks. This acquisition is strategically significant for Iberdrola, as ENW is situated between the existing ScottishPower network regions in Scotland and areas in Merseyside and North Wales. The move…