The Valencian Community is one of the key pieces of Iberdrola’s activity in Spain. For this reason, the electricity company reaffirmed its commitment to the autonomous community with a total economic impact of 875 million euros last year.
Iberdrola made purchases from more than 420 suppliers in the region for a value of more than 185 million euros. Among Iberdrola’s main suppliers in the region are Grupo Gimeno, Power Electronics, Iberapa, VRP Electric, GDES, Vestel and Blue Gold. Iberdrola thus contributes to the structuring of the territory and the creation of industrial and innovation opportunities in a growing market, with a high export component. These collaborations represent an opportunity to develop a value chain in the regions in which it is located and position the Spanish industry as an international benchmark.
The economic activity of the company – which this Friday, May 17, celebrates its 2024 General Shareholders’ Meeting – is thanks to the more than 1,500 people who work in Valencia. This year, Iberdrola will hold an even more participatory, accessible, close, sustainable and innovative Meeting, making available to its shareholders multiple channels to participate remotely and the possibility of attending electronically, in addition to in-person attendance with seat reservation.
To encourage the participation of Valencian shareholders, the company has installed a service point in Valencia at The Westin hotel, located on Amadeo de Saboya Street, 16, which will remain open until Thursday the 16th, from 10 a.m. to 7 p.m. You can delegate, vote and collect a gift for participating.
In fact, the company has proposed for the third consecutive year an involvement dividend of 0.005 euros gross per share (1 euro gross per 200 shares). If a quorum of at least 70% of the share capital is reached and the Board approves this incentive, Iberdrola will pay that amount to all its shareholders with the right to participate. The electricity company is the only Ibex 35 company that rewards its shareholders in this way.
In C. Valenciana, i-DE, the Iberdrola distributor, closed last year with the best historical value in service quality. The company manages more than 68,000 kilometers of power lines and has 25,000 transformation centers in service and nearly 180 substations.
Likewise, the Iberdrola distributor has exceeded 71,000 self-consumption installations connected to its electrical network in the Community in 2023, which have contributed to the system about 550 new megawatts (MW) of green generation fully integrated into the low and medium voltage networks.
Boost to renewable energies
Iberdrola has an installed generation capacity in the region of more than 4,840 megawatts (MW), of which more than 3,000 MW are free of CO2 emissions, of which it is worth highlighting the hydroelectric development of Cortes-La Muela, which houses the largest pumping station in Europe, an energy storage that represents a guarantee for the supply of the electrical system.
The company continues to identify renewable projects in the Community, where it already has environmental authorizations to develop approximately 500 MW of photovoltaic energy in the area of ??Ayora-Cofrentes, Villena, Biar and Alcoy.
Electric mobility and support for social groups
The company has continued to promote public charging infrastructure in the region where it has more than 1,200 spaces that have renewable energy to decarbonize road transport.
It is worth highlighting the launch in San Isidro (Alicante), together with the company Disfrimur, of chargers for public use adapted for electric trucks, which represents the first electrification project of the Mediterranean corridor for the transport of goods by road, which will to accelerate the decarbonization of a sector that is strategic for the regional economy.
In addition, the company is carrying out the electrification of the urban bus depots in Valencia, Elche, Alicante and Alcoy. These are innovative infrastructures that are allowing the decarbonization of urban passenger transport in the different cities of the Community.
The company will continue developing electric mobility in the region thanks also to the agreement sealed with BP to establish a strategic alliance with the aim of supporting the acceleration of the energy transition. The companies will collaborate to significantly expand the rapid public charging infrastructure for electric vehicles that accelerates the penetration of electric vehicles in the Community, as well as to develop large-scale green hydrogen production centers in Spain, such as the one planned for the Castellón refinery. .
Iberdrola, through its foundation in Spain, has selected five social projects from the C. Valenciana, dedicated to vulnerable people, which it will support after the resolution of the Call for the 2024 Social Program. The beneficiary associations are the Social Initiative Foundation in Education and Family, Asindown Valencia, Iniciatives Solidàries, Fundación Noray Proyecto Hombre Alicante and Cáritas Diocesana de Segorbe-Castellón.
Accelerate investments for the energy transition
The company has committed to investing 6,000 million euros between 2024-2025 in Spain to promote the electrification of the economy, given the arrival of new uses of energy demand. For the company, electrification has no brakes, given that energy self-sufficiency, decarbonization, efficiency and competitiveness of companies must be increased.
The investments will be focused on the development of more networks to connect the industry and new clients, in addition to clients that begin their decarbonization processes by electrifying their production processes and a selective development of renewables.
Iberdrola continues to advance its commitment to energy self-sufficiency and its proactive role as an active agent in the fight against climate change. In fact, within the Strategic Plan, the company intends to make its growth in renewables and networks compatible with the objective of becoming carbon neutral by 2030 in its own generation and consumption plants and in all its activities before 2040.