Tag: Iberdrola

Iberdrola and Microsoft strengthen their partnership with two long-term PPAs for 150MW and the use of new global AI solutions

Stuart Mitchell

Microsoft and Iberdrola have announced a new partnership to deepen their work together on energy and artificial intelligence projects. The partnership builds on the success of previous initiatives and includes the signing of two long-term power purchase agreements (PPAs) in Spain, the first that the two companies have signed in Europe. The agreement envisages expanding the use of Microsoft’s Azure computing and cloud platform, the deployment of Microsoft Copilot and security and regulatory compliance solutions to boost Iberdrola’s digital capabilities and promote the use of AI throughout the Group. Iberdrola has…

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Iberdrola issues €1 billion in the first EU Green hybrid bond

Stuart Mitchell

Iberdrola has returned to the capital markets, this time to refinance a hybrid bond maturing early next year. The company has placed €1B in green hybrid bonds, as reported to the Spanish National Securities Market Commission.  Like all the hybrids it issues, the bond is perpetual but has a repurchase option that begins in August 2031. The coupon was set at 3.75%, making it the lowest of all the hybrids issued this year, and also the lowest in this type of transaction since March 2022. As it did with its…

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Iberdrola and Echelon create a joint venture to develop data centres in Spain

Stuart Mitchell

Iberdrola and Echelon Data Centres, a leading owner and operator of large-scale data centre infrastructure in Europe, have announced a strategic joint venture to build and operate data centres in Spain. This is the largest binding agreement of its kind in Europe between an energy company and a developer of this type of technology infrastructure. Under this agreement, Iberdrola will hold a 20% stake through its subsidiary CPD4Green and will be responsible for identifying and securing land with connection to the electricity grid where the centres will be developed. It…

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Iberdrola signs a €2.5 billion credit line with 32 international banks

Stuart Mitchell

Iberdrola has signed a €2.5 billion credit line, as it continued to strengthen its liquidity and diversify its funding sources. The deal, closed with 32 international banking institutions, was oversubscribed by 45%, reflecting the confidence of the banking sector in Iberdrola’s creditworthiness and strategy. Iberdrola is the largest utility in Europe and one of the two largest in the world by market capitalisation. The credit facility has a term of five years, with the option to extend for a further two years. It is a multi-currency facility and has the most competitive…

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National Wealth Fund backs ScottishPower to boost UK grid upgrades

Stuart Mitchell

The National Wealth Fund (NWF) has announced a £600m commitment to help Iberdrola and ScottishPower upgrade the British electricity grid – supporting hundreds of jobs and helping to pave the way for a new era of clean electricity. The investment forms part of a £1.35bn financing package, led by Bank of America as Sole Debt Arranger and including Bank of America, BankInter, BNP Paribas, Caixabank, Lloyds Bank, NatWest and Banco Sabadell as lenders. NWF’s financing will support the delivery of seven of ScottishPower’s priority transmission grid upgrade projects. These will…

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