Iberdrola promotes its commitment to renewables in Italy and aspires to a portfolio of 3 GW in 2025 in the country

MADRID, 17 Jul. (EUROPA PRESS) -

Iberdrola plans to accelerate its presence in renewables in Italy in the coming years and aspires to be a key player in the country, reaching a portfolio of 'green' projects of three gigawatts (GW) in 2025, company sources told Europa Press.

Specifically, the energy company has a total of 43 renewable facilities under development in the transalpine country, totaling 1,500 megawatts (MW).

In addition, the group has signed a development agreement with the company GreenInvest to develop 17 wind and photovoltaic facilities for a total of 327 MW. Likewise, the company has started four other projects totaling 288 MW.

In this way, Iberdrola's current portfolio of projects under development in Italy would exceed 2,100 MW, with which it would aspire to another almost 900 MW more to reach that goal of 3 GW on the horizon in just over three years.

Thus, the electricity company chaired by Ignacio Sánchez Galán intends to strengthen its presence in renewables in a market such as the transalpine market, dominated by Enel, Endesa's parent company, and on which other Spanish energy companies, such as Repsol, have set their sights to grow, which foresees also expand its international expansion in renewables with its landing in Italy, or Acciona, which is already present in onshore wind power.

In fact, Iberdrola has recently started up its first photovoltaic installation in Italy, the 23 MW 'Montalto di Castro' project, located in the central region of Lazio.

The energy group has been present on the Italian market since 2016 as a supplier of green energy to companies and homes. It is currently considered one of the largest marketers of 'green' electricity in the country, a leader in the production and distribution of energy from renewable sources.

Iberdrola operates 22,000 MW of clean energy and has investments and a presence in 15 European countries, its main markets being Spain, the United Kingdom, Portugal, Germany, Italy, France and Greece.

The strategic plan of the electricity company contemplates investments of 75,000 million euros until 2025, aimed at doubling its renewable capacity, up to 60,000 MW and placing the value of its network assets at 47,000 million euros.

Likewise, by 2030, the group foresees investments of 150,000 million euros, with which it aspires to reach an installed power of close to 100,000 MW.