Iberdrola breaks record for distributed energy in 2024
Image courtesy Iberdrola
Utility giant Iberdrola has broken a record for distributed energy, transporting 238,164GWh in 2024, a 1.9% increase compared to the year prior, as reported to the National Securities Market Commission (CNMV).
The company attributes the good performance of their electricity distribution business to the recovery of demand in all countries where they operate electricity grids, namely Spain, the United Kingdom, the United States and Brazil.
The increase in electricity demand strengthened Iberdrola’s renewable production, which also reached a record of almost 83,300GWh, a 5% increase on the previous year.
The company’s total production stands at 132,499 GWh (-21.4%), taking into account that the sale of 8,500MW of combined cycle plants in Mexico closed in the first quarter of 2024.
In addition to the two previous milestones, Iberdrola’s renewable capacity ended 2024 on a historic figure of 44,478MW, after adding 2,440 new MW in the last 12 months.
According to the company in a release, this triple record is due to their investments, which accelerate the deployment of electricity grids and renewable energy, especially manageable technologies such as pumped storage.
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Iberdrola’s positive performance
Iberdrola, Europe’s leading electricity company by market capitalisation, generates 100% emission-free energy in countries such as the United Kingdom, Brazil, France, Italy, Germany, Poland, Portugal and Greece. Emission-free production has also reached 90% in Spain.
This positive performance of the energy balance is part of the company’s roadmap, which aims to continue promoting electrification as the only way to achieve energy autonomy and, thus, greater energy and economic efficiency for all consumers.
The aim is to keep contributing to this end in the future, with investments that will reach €46 billion ($47.4 billion) – €41 billion ($48.5 billion) announced in the strategic plan to which ENW’s €5 billion ($5.2 billion) will be added – and could reach €100 billion ($103.1 billion) in the coming years.
In the second half of September, the company plans to update the 2024-2026 Strategic Plan.
