Iberdrola announces 8 billion euro clean energy plan

Utility Iberdrola has announced a plan to expand its portfolio of renewable energy in Spain.

The energy provider plans to expand its renewable energy portfolio by 52% from the current capacity by 2022 by investing up to 8 billion euros.

Iberdrola will install an additional 3,000MW of wind and solar energy by 2022 and 10,000MW by 2030. The projects are expected to create 20,000 jobs.

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To date, the utility has up to 5,770MW of renewable energy capacity in Spain

Recently, Iberdrola has filed proposals for the development of four renewable energy projects which will be integrated with energy storage technologies.

The solar energy projects will add up to 250MW to the company’s clean energy portfolio and will be developed in Castilla-La Mancha.

This brings the total to over 2,200MW of renewables under construction or awaiting approval in Spain.

Worldwide, Iberdrola’s installed renewable capacity is over 30,300 MW, making its generation capability one of the cleanest in the energy sector.