Commitment to the energy transition and society with real actions

Hello everyone! We’re back the latest updates from the world of Iberdrola ?? and we’re taking this opportunity to say goodbye until September. Next month we’ll return with a new edition of the newsletter and even more energy ?!

Last week, we announced our half-year results and we posted a strong update. The data clearly demonstrates our commitment to growth, clean energy, and society:

• ? Record investment in the first half of the year - €5.28 billion.
• ? 20% increased tax contribution ???? €5.3 billion.
• ? Net profit increase of 64%, reaching €4.13 billion.

Our growth has been driven by the increase in the asset base in networks, the all-time high in renewables production , the increase in production from pumped storage hydro - which accounted for 25% of total hydroelectric production in the Iberian Peninsula - and the increase in the portfolio of PPAs with industrial clients.

We are making steady progress in our 2024-2026 Strategic Plan and in our commitment to society, not only with the increase our contribution to the communities that we serve, but also by making purchases worth more than €7 billion from tens of thousands of suppliers, which helps sustain more than half a million jobs worldwide.

Renewables around the world ??

It’s been a while since we talked about our solar PV projects, so today we will give you an update on several projects we have underway around the world.

• United States: Avangrid has launched its first solar plant ?? in the state of Texas, True North. It will supply clean energy to Meta’s data center in Temple through a long-term power purchase agreement (PPA). Additionally, construction has begun on another solar PV plant, Powell Creek, in the state of Ohio. The new plant will have a capacity of 202 MWdc, enough to generate clean energy for 30,000 families.

• Portugal: We have completed the construction and commissioning of two new photovoltaic plants in the Algarve region. Montechoro I and II have a total installed capacity of 37 megawatts, which will generate enough energy to supply 19,000 families.

Technological and cultural change

The transition from coal to renewable energy is not only a technological shift, but also a cultural one ??

Coal mining came with dangers and pollution, but also created a strong sense of community and pride. As we move towards a future with solar, wind, and hydroelectric power... Can we preserve these community values in the era of clean energy?

Although technologies change, the spirit of community can adapt to a green future, as evidenced by our East Anglia One offshore wind farm ??

Net Zero Island: Zorrotzaurre ??

Can a city be net zero and serves as a real-life testing ground for energy transition solutions ??

Zorrotzaurre in Bilbao, a 2.5km artificial peninsula, is one of Bilbao's biggest transformation projects. With the aim to be a net zero island, it serves as a real-life testing ground for energy transition solutions for residential, industrial and commercial sectors.

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