Iberdrola will boost renewables in Australia with a 3,000 million plan

Iberdrola advances in its international expansion plan and launches into the Australian market. The energy company has committed to invest between 2,000 and 3,000 million euros in Australia to promote the change towards renewable energies in the country, as reported by the company on Monday. The announcement took place within the framework of the trip of the company’s president, Ignacio Sánchez Galán, to said country, where he will hold meetings with several leaders in energy policy and will visit several of the renewable projects that the company is carrying out in the region.

The investments will be linked to new projects such as the Port Augusta renewable energy complex in South Australia, the largest hybrid wind-solar park in the southern hemisphere; the Avonlie solar park, in the southwest of New South Wales, or the Flyers Creek wind farm, in the center of the same state. The Chairman of Iberdrola has already met with the Prime Minister of the State of Victoria, Daniel Andrews, as well as with the Minister of Energy, Environment, Climate Action and Solar Homes, Lilly D’Ambrosio, and has also had a meeting with the employees from the Melbourne office.

“With these investments, Australia consolidates itself as one of the key markets for Iberdrola. The country’s abundant wind and solar resources, as well as the pace of technological development, place this region in a privileged position. We will lead and accelerate its transition to an economy with green energy at its epicenter, with the aim of increasing electricity generated from renewables, which now represents around a third of its generation,” Galán assured.

A growing market, “key” for the company

Iberdrola values ​​Australia as a growing market for renewable energy and has highlighted that it is a country undergoing a “profound transformation”to move from a centralized generation system based on large fossil fuel installations (coal and gas) to another Distributed generation, mainly with wind and solar energy. “Added to the huge portfolio of renewable energy and storage projects is the strong residential demand for solar and battery technology. The main levers to ensure continued strong growth in renewable capacity are upgrading the transmission and distribution network. and the reduction of the cost of storage technologies”, highlights the energy company.

Along these lines, the company also highlights that opportunities for the economy are emerging in Australia as the country “embraces new sectors” such as green hydrogen, ammonia and green materials, as well as opportunities for innovation in offshore wind and storage. Iberdrola has been committed to the Australian energy market since 2020 with the acquisition of Infigen Energy, Australia’s leading renewable energy company. In addition, in recent months it has acquired the rights to the world’s largest wind farm at Mount James, with 1,000 megawatts (MW), the 360-megawatt Broadsound photovoltaic plant, and has invested in a smart solutions business, Autonomous Energy, which offers tailor-made energy products for commercial and industrial companies.

With these investments, Iberdrola has a mature portfolio of more than two gigawatts of projects under development that will facilitate the consolidation of renewable energies as the main vector of the energy transition. To date, Iberdrola has installed 1,062 MW of renewables (wind, solar and batteries) in Australia and is building two new facilities with a combined capacity of 391 MW, scheduled to start up in 2023.

Source: LA INFORMACIÓN – Lo último by www.lainformacion.com.

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