Tag: Iberdrola

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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Iberdrola and Amazon further expand their global renewable energy partnership and harness the AWS cloud to scale Iberdrola’s business

Stuart Mitchell

Amazon and Iberdrola, one of the world’s largest clean energy companies, have added an additional 476 megawatts (MW) of renewable energy PPAs (power purchase agreements) to their global renewable energy partnership, expanding its presence into five countries.  The new power purchase agreements include Amazon’s first PPA in Portugal for 219 MW from the Tâmega Wind Complex, the largest wind farm in Portugal, scheduled to begin construction in early 2025. The partnership also expanded into Spain, with two utility scale PPAs agreed for a total 257 MW of solar and wind…

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Iberdrola closes its largest issue of green bonds in sterling for 15 years with strong support from investors

Stuart Mitchell

Iberdrola continues to diversify its sources of financing. The company, chaired by Ignacio Galán, has issued 12-year green bonds for 500 million pounds (600 million euros). This is Iberdrola’s largest issue in sterling since 2009. The company last issued a bond in Sterling in 2019, through its subsidiary Scottish Power Transmission. In addition, it is its first green bond Iberdrola has issued in sterling. Iberdrola becomes the only European utility able to access EUR, GBP and CHF in 2024. Demand exceeded 2.1 billion pounds (2.5 billion euros), and this has…

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