Spain's Iberdrola has unveiled a €75 billion (approximately R$ 480 billion) investment plan to double its renewables capacity from 32 GW to 60 GW of power by 2025.
At the end of the period, the sustainable park will be distributed between onshore wind (26 GW) and offshore (4 GW), solar (16 GW) and hydroelectric (14 GW).
According to the company, the objective is to get ahead and take advantage of the opportunities of the global energy revolution and achieve carbon neutrality in ten years.
Of the total invested, 90% will be based on renewables, grids, energy storage and more smart solutions for its customers. The remainder is related to the recent acquisition of PNM Resources, owner of utility companies in Texas and New Mexico, located in the United States.
“Our business model, after anticipating the energy transition by 20 years, positions us as a fundamental driving agent in the transformation of the industrial fabric, boosting social commitment and financial capacity with our experience. A long-term sustainable economic growth model capable of facing society’s current challenges,” said Ignacio Galán, president of Iberdrola.
Regarding EBITDA – a financial indicator that shows a company's cash generation potential – the Spanish group expects to obtain €15 billion (approximately R$ 95 billion) by 2025, recording an average annual growth of 7%.
Net profit, in turn, would reach €5 billion (approximately R$ 30 billion), after growing annually between 6% and 7% during the period.
green hydrogen
In line with European recovery plans, Iberdrola plans to install 600 operational MW in 2025, of which 800 MW by 2027 with the company Fertiberia.
The first projects in Spain will complement initiatives in other countries, while leading the development of the value chain and partnerships with more industrial groups.