“We want to continue being the engine of growth”

by time news

The president of Iberdrola, Ignacio Sanchez Galanstressed that the electricity company wants to continue being “the engine of growth and prosperity for the Basque Country and Spain.”

“We have been doing it for 120 years and we want to remain settled in this land to make things go much better, and this is what our 2023-2025 plan entails, with a record investment figure of 47,000 million,” Galán said in the act held in the Port of Bilbao on the occasion of the signing of a contract between Wind Group e Iberdrola.

In his speech, the Chairman of Iberdrola stated that, in the current context, “opportunities do not come alone and require a firm commitment” by companies and with the collaboration of institutions.

“And that is what Iberdrola has always found in this land, since our origins 120 years ago we have found that help, that support that has led us to become the leading electricity company in Europe and the second in the world by capitalization,” he said. stated Galán.

In addition, Ignacio Galan has recognized that “it has not been an easy and simple path”, but in Euskadi they always had “support from the administrations and from an industrial fabric that has known how to follow us around the world because it is also technologically advanced, competitive and knows how to look to the future and open up to the world without any type of fear and any type of complex».

“That is why I always like to say that Bilbao is kilometer zero for clean energy,” added Ignacio Galán, who believes that this is something that was revealed last year at the BEC with the Wind Europe International Fair, which will be repeated again and that they are “trying to make it a permanent headquarters.” In his opinion, all of Europe was able to see this “potential of the Basque industry in the wind field”.

However, after specifying the weight that fossil energy still has, Ignacio Sánchez Galán has assured that, therefore, there is “a way ahead to be able to make monopiles, structures…”.

Ignacio Galán highlighted the commitment they have made “for the country, a commitment to the country that last year turned into more than 650 million purchases from companies such as Ormazabal, Ingeteam, Arteche, Tamoin and many others”.

«With you we want to continue to be the engine of commitment for the prosperity of the Basque Country and the prosperity of Spain. We have been doing it for 120 years and we want to remain settled in this land to make things go much better and this is what our new 2023-2025 plan entails with a record investment figure of 47,000 million”, he stated.

As the president of Iberdrola has added, there are 47,000 million to continue helping to transform “this energy system into an energy system with more renewables and more smart grids, many of them being designed in Bilbao, with more storage plants, more green hydrogen and generating with This value for everyone through the tax contribution that we have – more than 7,000 million around the world was paid last year – with investments in innovation and commitment to training”.

Lastly, he insisted that “everything began” in Bilbao 120 years ago and added that the “link” with this land “has not stopped growing and strengthening over time.” “Today’s example is one more element of that commitment, the company was born here thanks to some pioneers who opted for a project when light seemed like a magician’s thing”, assured Ignacio Galán, who reminded the tens of thousands of shareholders who they have in Euskadi.

Wind Group

For his part, the president of Haizea Wind Group, Damaso Marriedrecalled that, after inaugurating its facilities in 2018, today «Haizea Bilbao is manufacturing six projects, three for France, three for the United Kingdom, where the «most powerful and advanced» turbines will be installed, and one of them is the from Iberdrola.

As he pointed out, they are a company that employs more than 1,300 people, with six operating factories. Likewise, he has pointed out that their turnover is 300 million and they hope to double that figure to reach 600 million in 2025 and more than 1,800 jobs.

Dámaso Quintana has affirmed that they expect their work center in the Port of Bilbao to have more than 700 jobs, in addition, “quality employment”. In addition, in his speech, he highlighted the value of “talent” and pointed out that they are a “magnet for attracting talent, both local and international.

Lastly, he underlined the importance of Haizea as a “driving company” and added that they have been an “anchor” for a lot of small auxiliary industry that “today has a much better future”.

Offshore wind, key to Iberdrola’s growth

With a market capitalization of close to 70,000 million euros, Iberdrola is the leading electricity company in Europe and one of the two largest in the world, serving 100 million people around the world. In addition, Iberdrola is the world leader in the offshore wind power market.

The company led by Ignacio Galán is developing a record investment plan for a total of 47,000 million euros between 2023 and 2025.

Iberdrola will allocate 17,000 million euros to the renewable business, focusing growth on high-quality projects and with the best risk/return ratio. Of this amount, 46% will focus on offshore wind technology in France, Germany, the United Kingdom and the United States. In the rest of the technologies, onshore wind will monopolize 25% of the investment, photovoltaic 24%, hydraulics, 2% and batteries, 3%.

As a result of these investments, the company will increase its renewable installed capacity by 12,100 MW, reaching 52,000 MW in 2025 compared to the 40,000 MW forecast for this year.

In addition, Iberdrola will invest 27,000 million in electricity transmission and distribution networks, increasing its asset base by 44% to reach 56,000 million in 2025.

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