Renewables
We are committed to renewable energies to support the energy transition
Our goal is to have zero emissions by 2050
Our 2021-2025 Strategic Plan is part of the solid commitment to ESG we have been implementing in recent years. Growth in renewables will involve an investment of €8.7 billion, 60% of the €14 billion planned for the period.
The focus of this growth strategy will be on attractive countries with stable regulations and strong currencies, as well as on projects in early development stages that contribute to the transition.
We aim to triple our installed renewable capacity from the current 5.5 GW to 14 GW internationally by 2025. Of this target, the largest growth will be in Europe, followed by Australia and other locations such as the United States and Chile.
Installed capacity by technology
- Wind 2,6 GW
- Solar 0,7 GW
- Hydroelectric 2,2 GW
We are still committed to our renewables development strategy, and have reached more than 5.5 GW of operating power in the period. In Spain, we are developing projects to build approximately 30 wind farms and photovoltaic plants, equivalent to almost 1 GW of additional renewable capacity, which is expected to start operating within the next few months.
In Australia, a priority country for us, we aspire to reach an installed capacity of 2.2 GW in 2025, with an investment of close to EUR 2 billion focused on the development of wind, photovoltaic and energy storage system technology plants.
Regarding offshore wind power, in April 2022 we entered into an agreement with Norwegian company Equinor to analyse and develop offshore projects in Spain, such as the joint development of the Floating Offshore Wind Canarias (FOWCA), with more than 200 MW of floating offshore wind generation to the east of Gran Canaria.
We are also leading the development of renewable gas in Spain as a key pillar for short and medium-term decarbonisation, and are currently working on hydrogen and methane projects with the intention of increasing the renewable gases injected into our gas transportation systems.
In terms of renewable energy innovation, we are committed to implementing new technologies, monitoring assets and managing them in an autonomous and smart manner.
Innovation
Decommissioning the GIRA wind farms
Together with other partners, we are promoting the management of wind farm decommissioning and the recovery of the dismantled wind turbines. The project involves inspecting and tuning wind turbines in a condition to provide years of service and the processing of components that are not suitable for further use for a second life.
StoreLAB Project
We have installed and powered a pioneering battery storage system in the Vega I and II wind farms in Zamora, with a nominal power of 5,000 kW per farm. This project allows the excess energy generated by wind turbines not needed by the system at times of low demand to be stored for use at moments of high consumption or with low wind levels.
This is the first plant of its kind in Spain and is a turning point in the development of renewable energies, improving their availability and the strength of the electricity system.