Iberdrola Profits Up 50% Thanks to Record Investments and Renewable Output

Strong Performance Driven by Increased Investment in Renewable Energy

Spanish energy company Iberdrola has reported a 50% increase in profits, driven by a combination of record investments and strong output from its renewable energy business.

Total revenues for the company reached €31.3 billion, up 12% year-on-year, while adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 26% to €6.2 billion.

The company’s renewable energy segment was a key factor in this growth, with output reaching a record 82.4 TWh, up 16% from the previous year. Iberdrola’s installed capacity in this area now stands at over 14 GW, making it one of the largest renewable energy operators in the world.

Iberdrola has been investing heavily in renewable energy in recent years, with a focus on onshore and offshore wind, solar, and hydroelectric power. The company has committed to a net-zero carbon target by 2050 and has set a goal of increasing its renewable energy output to 50% of its total capacity by 2030.

The company’s commitment to renewable energy has not only had a positive impact on the environment but also on its bottom line. The cost of generating electricity from renewable sources has fallen significantly in recent years, making it a more cost-effective option for the company. This has helped to drive down costs and increase profitability.

Iberdrola’s strong performance in the past year is a testament to the company’s commitment to renewable energy and its ability to adapt to a rapidly changing energy landscape. As the world continues to transition towards a low-carbon future, companies like Iberdrola will play a critical role in helping to meet the increasing demand for electricity while reducing our reliance on fossil fuels.

* What is Iberdrola’s target for renewable energy output by 2030?
Iberdrola aims to increase its renewable energy output to 50% of its total capacity by 2030.
* What is the company’s goal for reducing carbon emissions?
Iberdrola aims to achieve net-zero carbon emissions by 2050.
* What are the key factors driving the company’s growth?
Increased investment in renewable energy and strong output from the company’s renewable energy segment are key factors in Iberdrola’s growth.
* What is the company’s installed capacity in renewable energy?
Iberdrola’s installed capacity in renewable energy stands at over 14 GW, making it one of the largest renewable energy operators in the world.