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    Iberdrola accelerates in the U.S. and builds 1,800 MW of renewables


    May 6, 2022 - CE Noticias Financieras

     

      Iberdrola is growing in renewables in the United States. The Spanish utility, through Avangrid, currently has renewable projects under construction with a combined capacity of 1,800 MW.

      By the end of this year, the company expects 600 MW of onshore wind and solar power facilities to come on line. In fact, the 200 MW Golden Hills wind farm in Oregon has just been commissioned and work on the 105 MW Midland wind farm in Illinois is progressing well.

      In the next three months, the 194 MW Lund Hill PV plant in Washington State and the 210 MW Montague PV plant in Oregon, which are already at an advanced stage of assembly, will begin commercial operation.

      Also in Oregon, the company is installing the Bakeoven (269 MW) and Daybreak (189 MW) solar plants, which will be completed in the second half of this year.

      At the end of the first quarter, the company had installed renewable capacity of more than 8,360 MW, up 4.5% compared to the same period of the previous year.

      Offshore wind

      With this generation capacity, the Spanish utility is now one of the three largest wind and solar energy companies in the United States. Iberdrola also has a portfolio of almost 5,000 MW of offshore wind power. Of particular note is the Vineyard Wind 1 project, which the company is developing off the coast of Massachusetts.

      With 800 MW of installed capacity and an investment of 2.5 billion euros, it is the first commercial-scale wind farm in the United States and one of Iberdrola's largest in the world.

      Its construction, which officially began in November 2021, continues to advance, despite the problems they have had to face with fishermen in the area. So far this year, the onshore drilling for the reception of the export cable has been completed and progress has been made in the construction of the onshore substation.

      Avangrid's CO2 emissions intensity was already 6.5 times lower than the average for utilities at the end of the last financial year.

      Iberdrola will bid in the offshore wind auction to be held on May 11 for a concession area in the Carolina Long Bay area. Along with the Spanish utility, a total of 15 other competitors have been pre-qualified, including BP, Shell, Masdar, Orsted and TotalEnergies, among others.

      The lease areas cover 110,091 acres that, if developed, could produce at least 1.3 GW of offshore wind energy, enough to power nearly 500,000 homes. Thanks to the company's commitment to renewable energies, Avangrid's CO2 emissions intensity was already 6.5 times lower than the average for US utilities at the end of the last financial year.

      On May 28, Pedro Azagra will officially take over the reins of Avangrid following the departure of the current CEO, Dennis Arriola, and Robert Kump, Chairman.

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