– Iberdrola announced €15.5 billion investments in renewable energy before 2026, with over 50% going to offshore wind projects in the US, UK, France, and Germany.
– The investment will boost electrification and support decarbonisation, energy security, and reduce volatility caused by fossil fuels.
– The strategy also focuses on enhancing the grid, expanding renewable capacity, and utilizing storage technologies to balance supply and demand 24 hours a day.
Iberdrola has announced a significant €15.5 billion investment in renewable energy before 2026, with an additional €5 billion from partners in identified projects. This is part of a larger €41 billion investment to boost electrification, with over 50% of the funds allocated to offshore wind projects in the US, UK, France, and Germany. All investments will be directed towards projects currently under construction.
The Executive Chairman of Iberdrola, Ignacio Galan, highlighted the unstoppable trend towards electrification of energy, which will support decarbonization, enhance energy security, and reduce volatility caused by fossil fuels. The strategy will focus on grid enhancement, expansion of renewable capacity, and the increasing role of storage technologies to maintain a balance between supply and demand.
The latest issue of Energy Global magazine features a guest comment on battery storage sites, a regional report on renewables in Europe, and technical articles on electrical infrastructure, turbine monitoring, battery storage technology, and more. This issue reflects the continued growth and innovation in the global renewable energy industry.
For more information and to read the full article, visit Energy Global’s website at https://www.energyglobal.com/special-reports/21032024/iberdrola-announces-155-billion-of-renewable-investments-by-2026/.