Iberdrola Reinforces its Commitment to Renewable Energy in the Canary Islands

Source: www.gulfoilandgas.com 5/17/2021, Location: Europe

Iberdrola reinforces its commitment to the renewable energy market in the Canary Islands, after winning 11 % of the total power auctioned in Santa Cruz de Tenerife in the bidding process for wind power capacity endowed with ERDF funds (Eolcan2).

The company will develop the Aulagas wind farm in Granadilla de Abona, with a total installed capacity of 10.5 MW, made up of 4 wind turbines each with a power of 2.6 MW. The project has an Environmental Impact Statement (EIS) and its commissioning is scheduled for the end of 2022.

The construction and development of Aulagas will contribute to promoting the group's renewable energy strategy in the Canary Islands, boost employment in the area and reduce the energy cost overruns caused by the unique nature of the island territories.

In the Canary Islands, Iberdrola has been operating the Chimiche wind farm in Tenerife since 2019. With a capacity of 18.3 megawatts (MW) and an investment of more than 25 million euros, the project generated more than 200 jobs during its construction. The park supplies clean energy to an equivalent population of 15,000 homes, preventing the emission of 33,000 tons of CO2 per year.

In March 2021, Iberdrola reinforced its commitment to renewables in the region, after securing 36 % of the total power auctioned in Fuerteventura, where it will develop the Huriamen I and Huriamen III wind farms, of 6 MW and 15 MW, respectively, and another 15.5 MW of photovoltaic plants, Llanos Pelaos I, II, III and Blanca Solar, jointly promoted with Ingeniería y Aplicaciones Solares (Lasol) and Energy Projects & Investment Capital (Energy Capital).

GREEN INVESTMENTS TO PROMOTE ECONOMIC RECOVERY AND EMPLOYMENT
Iberdrola is certain that the energy transition can be a driving force in the transformation of the industrial sector and for a green recovery in the economy and the job market. The company has thus launched a historic investment plan with a value of 150 billion euros over the next decade, 75 billion euros by 2025, to triple its renewable capacity and double network assets and take advantage of the opportunities offered by the energy revolution that the world's leading economies are facing.

Investments in Spain amount to around €14.3 billion for 2025, half of which (more than €7 billion), will be spent on developing renewable energy projects.

After twenty years promoting the energy transition, Iberdrola is a leader in renewable energy with nearly 35,000 MW installed; a volume that makes its generation fleet one of the cleanest in the energy sector.

With emissions of 98 gCO2/kWh that are already two-thirds lower than the European average, the strategy of investing in clean energy and networks will lead Iberdrola to be a “carbon neutral” company in Europe by 2030.


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