Tag: Iberdrola

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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Iberdrola launches Carbon2Nature to reduce the global carbon footprint through nature-based solutions

Stuart Mitchell

Iberdrola launches Carbon2Nature (C2N) with the mission of developing high-impact nature-based solutions projects that reduce the global carbon footprint, improve biodiversity, and promote a sustainable economy. The company was born out of the utility’s conviction that investing in nature is essential to act against the climate and biodiversity crisis, while at the same time acting as a formula for sustainable value creation and profitability. Carbon2Nature harnesses the potential of carbon credit markets, driving the development of in-house or collaborative projects that will generate high quality carbon credits, which Carbon2Nature will…

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Iberdrola and bp sign a strategic alliance to accelerate the deployment of electric mobility

Stuart Mitchell

Iberdrola and bp have signed a strategic collaboration agreement aiming to help accelerate the decarbonisation of transport.  The companies announced their intention to form a Joint Venture (JV) in July 2021, intending to invest up to €1 billion to roll-out a network of up to 11,000 rapid and ultra-fast EV public charge points across Spain and Portugal. The signing of the strategic collaboration agreement brings the companies one step closer to the formation of the JV which is subject to the necessary regulatory and competition approvals and expected to close…

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