Spanish company Iberdrola is taking another step in its international leadership in the energy transition to reduce reliance on fossil fuels. The company has committed to a large investment of between 2,000 and 3,000 million euros. Australia Promote the country’s transition to renewable energy, and 4,000 MW in next years. Iberdrola has already invested 2,000 million euros in this country.
The announcement was made during the tour of the company’s president, Ignacio Galán, which began this Monday. melbournethere, he will hold meetings with leading energy policy leaders and visit the many renewable projects the company is running in the region.
“With these investments, Australia is reinforcing itself as one of the key markets for Iberdrola. wind and solar resources Along with the country’s pace of technological development, it places this region in a privileged position. “We will lead and accelerate the transition to an economy with green energy at its epicenter with the aim of increasing the electricity produced by renewable sources, which currently represents about one-third of its generation.”
As part of this visit, this morning the president of Iberdrola met with the premier of the state of Victoria. Daniel Andrews and Minister of Energy, Environment, Climate Action and Solar Homes, Lilly D’Ambrosio and in the afternoon – Australian time – he held a meeting with the staff of his Melbourne office.
Australia, a growing market
The electricity market in Australia is undergoing a profound transformation, going from a centralized generation system based on large fossil fuel plants (coal and gas) to a distributed generation system, predominantly wind and solar power.
Transition of the electrical system to deal with a greater proportion of renewable energy, biggest challenge facing the country. This challenge presents tremendous opportunities to help companies manage energy costs and capture new sources of growth.
Strong residential demand added to the large portfolio of renewable energy and storage projects, solar technology and batteries. The main levers to ensure continued strong growth in renewable capacity are upgrading the transmission and distribution network and reducing the cost of storage technologies.
In addition, opportunities for the economy are emerging as the country embraces new sectors such as green hydrogen, ammonia and green materials, as well as for innovation. offshore wind and storage.
Iberdrola, leader in Australia
Iberdrola has made a strong commitment to the Australian energy market since 2020 by acquiring Infigen Energy, Australia’s main renewable energy company. In addition to this significant acquisition, the company has committed more than A$1,000 million (approximately €700 million) to new renewable growth projects such as the Avonlie solar park in southwest New South Wales and the wind farm Flyers Creek in South Wales. the Port Augusta renewable energy complex in central New South Wales and South Australia, The largest hybrid wind-solar park in the southern hemisphere.
Similarly, in recent months Iberdrola has bought the rights to the world’s largest wind farm. Mount James, 1,000 MW photovoltaic power plant wide sound360 MW, realm of queens and Autonomous Energy, a smart solutions business that offers specialized energy products for commercial and industrial companies.
With these investments, Iberdrola has a mature portfolio. 2GW development projects that will facilitate the consolidation of renewable energies as the main vector of the energy transition.
Currently, the company is installed 1,062 MW renewable (wind, solar and batteries). It is also constructing two new facilities with a total capacity of 391 MW, planned to be commissioned in 2023.
Underlying all these investments is the commitment to place the customer at the center of life. energy transition, to provide them with reliable, affordable and green energy. Industrial customers the company serves include some of Australia’s most iconic brands, such as mining. bhp and supermarket chain Woolworth’s.
Earlier this year, Iberdrola launched its grid business in Australia, given that the country’s electricity grids, particularly transmission infrastructure, need to be greatly expanded to capture wind and solar resources and transport energy to coastal population centers. Attempts by the federal and state governments They have made it possible to create an environment of trust for foreign investment to develop new renewable generation and transmission projects.
Source: Informacion
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