Leading the global energy transition with a commitment to people

Hello everyone! We're back with the best energy ?? to share all the latest news from the past few weeks and to bid farewell to the year as it deserves. This 2024, which is coming to an end, has been an outstanding year for our company. We have once again led in all parameters of sustainability, innovation, and growth, with a stock market value evolution that has brought much satisfaction to our shareholders, contributing to the economy and employment in the communities where we are present.

The year has been marked by a record investment ?? of over €12 billion worldwide, primarily aimed at growing in the area of electrical networks, highly profitable renewable projects, and countries with stable regulations. Thanks to these investments and our foresight in the energy transition two decades ahead, we are now a global leader with a sustainable and competitive model that creates value for society.

Commitment to growth in Brazil ??

Returning to current events, last week Ignacio Galán reaffirmed our commitment to the energy transition in Brazil, where we will invest €7 billion until 2028. This ambitious investment plan by Neoenergia will be carried out thanks to the stability of the Brazilian sector, with a predictable regulatory framework for the development of electrical networks in the coming years.

We are the leading distribution company in the country, supplying electricity to over 40 million people, with a presence in 18 states. We have 730,000 kilometers of lines and an installed capacity of 4,500 MW, mostly renewable.

?? Alongside a team of 16,000 employees, we also promote sustainable development and social actions, contributing to improving the quality of life in the communities where we operate, especially for the most vulnerable people ??.

Renewables around the world ??: United Kingdom

In our 'Renewables around the world' section ??, today we go to the United Kingdom where... we are celebrating an anniversary! Our first offshore wind farm in the world, West Duddon Sands, is celebrating its 10th anniversary.

A pioneering project, 50% owned by ScottishPower and ?rsted , that produces clean energy to supply around 340,000 families a year. ?? Its 108 wind turbines were commissioned in 2014 in the Irish Sea, about 14 kilometers off the coast of Cumbria (England).

The project required an investment of over ￡1 billion and generated a thousand jobs during its construction ??. ??? It is also impressive to see the great technological leap made in this decade, from turbines with a capacity of 3.6 MW to those of 14 MW ??, like the ones that will be installed in our future East Anglia Three wind farm, also in the United Kingdom.

And without leaving the United Kingdom or offshore wind, our ongoing projects are also progressing smoothly, in this case at the East Anglia Two offshore wind farm. ScottishPower has confirmed that Nexans will supply us with 100 km of submarine cable and 55 km of terrestrial cable to connect the park's substation to the grid.

Large-scale energy storage ??

As more renewable energy begins to be produced worldwide, the need for large-scale storage increases. The most efficient and innovative solution currently available is pumped-storage hydroelectric power plants. Thanks to their technology, they produce clean energy like conventional hydroelectric plants, but they also store it. Their turbines pump water back to the upper reservoir to store it until it is needed again.

This is the case with our hydroelectric complex in Portugal: Tamega. Capable of storing energy for 11 million people – the population of Portugal. Here you have an insteresting review in our facilities en Portugal. Don't miss it!

International Day of Persons with Disabilities ??

And to end today's newsletter, we want to share with you an incredible video that invites us to reflect on the often unfounded prejudices we have about people with disabilities. We need to break down barriers and row in the same direction to make our society more equal and inclusive.

At Iberdrola, we firmly believe in these values and work every day to make them a reality. On the occasion of the International Day of Persons with Disabilities, we launched a short film contest together with Cultura Inquieta and the participants have left us speechless.

Don't miss the winning short film: "Assume That I Can" ???? We hope you enjoy it as much as we did!