The Spanish renewable energy giant Iberdrola has announced an impressive 11% increase in its global renewable energy production in the first quarter of 2023. The growth is a direct result of the company’s continued investments in clean energy, which have also seen the group’s installed capacity exceed 40,000 MW.
Iberdrola’s recent investments in renewables have not only increased its energy production but also expanded its global presence. With new installations in Australia, Spain, and Brazil, installed PV capacity has now surpassed 4,500 MW, marking a 40% increase in photovoltaic capacity. Onshore wind capacity also saw a 4% increase, reaching 20,202 MW.
Spain has seen the largest renewables capacity increase, with 644 MW of new capacity added. This was mainly due to new solar PV installations, contributing to a total renewables capacity of 19,953 MW in the country. In Brazil, the company added 549 MW of new capacity, including the development of the Oitis wind farm and the Luzia photovoltaic plant. In the United States, Iberdrola reached 8,722 MW, with the installation of 357 MW of new renewable energy, including 200 MW of new solar in Oregon.
Iberdrola has also made a commitment to energy self-sufficiency and decarbonization in the markets where it operates. As part of this commitment, the company plans to increase clean energy capacity to 52,000 MW by the end of 2025. This will include the installation of 3,100 MW of onshore wind, 6,300 MW of solar PV, 1,800 MW of offshore wind, 700 MW of batteries and 200 MW of hydro over the next three years. The group has already secured 50% of the new capacity and aims to have 95% of production contracted by 2025.
The greater contribution of renewable energy has increased Iberdrola’s emission-free production ratio to 84%, rising to 90% in Spain. The company’s commitment to clean energy means that more than 80% of its own capacity is emission-free, with the United Kingdom operating on 100% green energy. In terms of future plans, the outlook presented at Iberdrola‘s Capital Markets Day anticipates a renewable generation capacity of 80,000 MW by 2030, with a total portfolio of 100,000 MW.