Record investments ?? to drive our global leadership in electrification ?

Hello everyone! We are excited to start our newsletter because a few days ago we presented the 2024 Results with very good news that consolidate our global leadership and represent a boost to electrification with sustainable, competitive, and local energy worldwide ??.

With electrification driving growth in demand across all of the countries Iberdrola serves, this strong set of results delivers ahead of our strategic plan.

Ignacio Galán, Executive Chairman of Iberdrola.

Here are some highlights from the results presentation:

? Record investments of €17 billion boost Iberdrola's net profit ?? to €5.612 billion, an increase of 17%. Over €11.2 billion was invested in networks.

? Electrification has driven demand increases in all the countries where we operate, with a record in distributed energy in 2024.

? Growing social contribution: purchases worth €18 billion from thousands of companies employing 500,000 people. Record contribution to public coffers, exceeding €10.3 billion for the first time.

? Job creation, with 6,000 new hires.

? Emissions are at 38 grams per kWh in Europe, five times less than the sector average in Europe. Additionally, €400 million was allocated to innovation, making Iberdrola the private utility that invests the most in R&D+i worldwide.

? Improved forecasts for 2025: mid-to-high single-digit growth and commitment to our thousands of shareholders through dividends.

More partnerships for electrification ????

We continue expanding electrification ? around the world, reaching numerous companies and assisting them in their decarbonisation process with sustainable, local, and competitive energy.

???? On one hand, we have signed a Power Purchase Agreement (PPA) for 1,000 GWh with Pam Panorama, the Italian distribution giant (hypermarkets and supermarkets), to supply them with solar energy ? of our photovoltaic plants in the country, which will reduce their annual CO2 emissions by over 38,300 tonnes.

???? On the other hand, we have signed an agreement with Renault, offering drivers who replace a combustion vehicle with an electric one a discount of €800 in Spain. They are the first manufacturers ?? to benefit from the Energy Savings Certificates (CAEs), which are awarded when a company makes an energy efficiency improvement

Renewables around the world ??: Spain

In our 'Renewables Around the World' ?? series, today we are staying in Spain, where we have started commisioning Valdeca?as pumped-storage hydroelectric plant in Cáceres, Extremadura.

The completed hydroelectric facility will have a 225 MW generation capacity plus a 15 MW hybrid battery and will add 210 GWh of energy storage capacity to the local Tajo grid. The project has used existing infrastructure at the site, including electricity transmission lines, and did not need to alter the levels of the Valdeca?as and Torrejón-Tajo reservoirs.

Additionally, the project will create 165 direct jobs and 500 indirect jobs, promoting skilled employment ???? and benefiting the local economy. The pumped-storage plant also stabilises the electrical grid by storing and recovering energy ? when needed.

Enlit Europe on the road ??

Some weeks ago, several working groups led by Iberdrola and Enlit have been organised at Torre Iberdrola in Bilbao (Spain) to draw up the roadmap, lines of work and the most important topics to be discussed at Enlit Bilbao 25.

Enlit Europe will hold a major event in November in Bilbao, connecting companies, industries, and suppliers through digitalisation, energy transition, and electrification. Iberdrola, as the main partner of this European event, is proud to bring this international gathering to Spain.

We are excited about the opportunities and collaborations that will arise from this event! ???

New onshore wind farm in Spain ??

Today we say goodbye with the impressive images of the transport of a wind turbine blade along the roads in the south of Tenerife, in the Canary Islands, on the way to the new wind farm we are building in the area. ?? Quite a logistical challenge to keep the work on the facility moving forward. Nobody said it would be easy, but our great team can handle it all! ??

And that's all for today ????. Thank you for joining us once again. If you want to get to know us better, you can also follow us on other social networks where we share the latest news in a... different tone ?? like X, TikTok, Pinterest, or YouTube... See you next time!