Iberdrola continues to make progress in its commitment to the development of renewable energies in the United States. At the end of the first quarter, the company had installed renewable capacity of more than 8,360 MW, 4.5% more than in the same period of the previous year.
Through AVANGRID, its subsidiary in the country, the group 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 new onshore wind and solar power facilities to come on stream.
These include the 200 MW Golden Hills wind farm, which the company is building in Oregon and is currently starting up. Work on the 105 MW Midland wind farm in Illinois is also progressing as expected.
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 enter 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.
In addition to being one of the three largest wind and solar energy companies in the United States, Iberdrola is a leader in offshore wind energy, with a portfolio of almost 5,000 MW. 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 2,500 million euros, this 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 progress. So far this year, onshore drilling has been completed for the reception of the export cable and progress has been made in the construction of the onshore substation.
In addition to the United States, the Iberdrola group has a portfolio of offshore projects in the United Kingdom, Poland, Sweden, Ireland, Taiwan, Japan, the Philippines and Brazil, which could increase in the coming years. Potential investments associated with this portfolio of projects, many of which could mature beyond 2030, could be estimated at 90 billion euros.
Thanks to the company's commitment to renewable energies, AVANGRID's CO2 emissions intensity at the end of the last financial year was already 6.5 times lower than the average for US utilities.