The Diplomat
Iberdrola plans to accelerate its presence in renewables in Italy in the coming years and aims to become a key player in the country, reaching a portfolio of green projects of three gigawatts (GW) by 2025, company sources told Europa Press.
Specifically, the energy company has a total of 43 renewable facilities under development in the transalpine country, totalling 1,500 megawatts (MW).
In addition, the group has signed a development agreement with the company GreenInvest to develop 17 wind and photovoltaic facilities for a total of 327 MW. The company has also started four other projects totalling 288 MW.
Iberdrola’s current portfolio of projects under development in Italy would thus exceed 2,100 MW, with which it would aspire to almost 900 MW more to reach its target of 3 GW in just over three years’ time.
In this way, the electricity company chaired by Ignacio Sánchez Galán aims to strengthen its presence in renewables in a market such as the transalpine one, dominated by Enel, Endesa’s parent company, and on which other Spanish energy companies have set their sights for growth, such as Repsol, which also plans to expand its international expansion in renewables with its landing in Italy, or Acciona, which is already present in onshore wind power.
In fact, Iberdrola has recently started up its first photovoltaic installation in Italy, the 23 MW ‘Montalto di Castro’ project, located in the central region of Lazio.
The energy group has been present in the Italian market since 2016 as a supplier of green energy to companies and households. It is currently considered one of the largest marketers of ‘green’ electricity in the country, a leader in the production and distribution of energy from renewable sources.
Iberdrola operates 22,000 MW of clean energy and has investments and a presence in 15 European countries, its main markets being Spain, the United Kingdom, Portugal, Germany, Italy, France and Greece.
The utility’s strategic plan envisages investments of 75,000 million euros by 2025, aimed at doubling its renewable capacity to 60,000 MW and bringing the value of its network assets to 47,000 million euros.
The group also foresees investments of 150 billion euros by 2030, with which it aspires to reach an installed capacity of close to 100,000 MW.
