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Released February 23, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Despite tough headwinds in the wind-energy market, Iberdrola Group (Bilbao, Spain) is upbeat about its 2024 prospects, after it grew its installed renewable-energy capacity to more than 42 gigawatts (GW) worldwide in 2023. The company cited improved performance in most of its major businesses, including in the U.S., where it is outpacing its renewable rivals in technology such as offshore wind. Industrial Info is tracking about $15 billion worth of active and planned projects across the U.S. from Iberdrola, more than $11 billion of which is attributed to power-generation projects.
Click on the image at right for a graph detailing the top 10 U.S. states for active and planned projects across the U.S. from Iberdrola, by total investment value.
Iberdrola reported net profits of 4.8 billion euros (US$5.2 billion) for 2023, a 10.7% jump from 2022. The company's global renewable-generated power output increased 6.3% to 79,329 gigawatt-hours (GWh) worldwide, due to increased generation from offshore wind, large hydro and solar power plants. In the U.S., Iberdrola is one of the few developers that can point to successful power generation at an offshore windfarm: Its 806-megawatt (MW), $1.6 billion Vineyard Offshore Windfarm project near Massachusetts, a joint venture between its subsidiary Avangrid Incorporated (NYSE:AGR) (Orange, Connecticut) and Copenhagen Infrastructure Partners (CIP) (Copenhagen, Denmark), began generating 5 MW for the Massachusetts power grid in January.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed project reports on Vineyard Phase I and Phase II, and can read Industrial Info's January 10, 2024, article - U.S. Offshore Wind Projects: Three Steps Backward, One Step Forward.
"As of December 31, 2023, six turbines have been installed [at Vineyard], with the seventh turbine installed in early January 2024," Iberdrola said in an earnings-related press release. "The installation of the interconnection cables has been completed, and the laying of the foundations and commissioning of the onshore and offshore substations are progressing well."
In its onshore wind business, Iberdrola is seeking permits for a proposed repowering of its Rugby Windfarm in Barton, North Dakota, in which it plans to replace 71 turbines with newer models. Missouri River Energy Services (Sioux Falls, South Dakota), which is part of the Southwest Power Pool, purchased 40 MW of output from the 149-MW Rugby Windfarm. Subscribers can learn more from Industrial Info's detailed project report.
Iberdrola's solar projects in the U.S. are poised for significant growth this year, with the $170 million Day Break Solar Plant in Antelope, Oregon, scheduled to begin operations this summer. The facility will use monocrystalline panels from Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario) to generate 140 MW for Oregon's power grid. Subscribers can learn more from a detailed project report.
Aurora Solar LLC, an Iberdrola subsidiary, is proposing two solar projects for one of the sunniest states: the Obed Meadow Plant in Joseph City, Arizona, which would generate 200 MW, and the Cameron Plant in Florence, Arizona, which would generate 100 MW. The Obed Meadow project, if approved, could feature a 200-MW battery energy-storage system (BESS) unit. Subscribers can learn more from detailed reports on the Obed Meadow and Cameron projects.
Iberdrola's growth in the U.S. has attracted the attention of Masdar, the United Arab Emirates' (UAE) state-run renewable-energy company. Bloomberg reports Masdar is considering a stake in Iberdrola's onshore clean-energy assets in the U.S., although Iberdrola says it has not yet been formally approached; the two companies formed a 15 billion-euro (US$16.23 billion) strategic partnership last year to develop offshore wind and green hydrogen projects in the U.S. and Europe.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects in the U.S. involving Iberdrola.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 U.S. states for active and planned projects across the U.S. from Iberdrola, by total investment value.Iberdrola reported net profits of 4.8 billion euros (US$5.2 billion) for 2023, a 10.7% jump from 2022. The company's global renewable-generated power output increased 6.3% to 79,329 gigawatt-hours (GWh) worldwide, due to increased generation from offshore wind, large hydro and solar power plants. In the U.S., Iberdrola is one of the few developers that can point to successful power generation at an offshore windfarm: Its 806-megawatt (MW), $1.6 billion Vineyard Offshore Windfarm project near Massachusetts, a joint venture between its subsidiary Avangrid Incorporated (NYSE:AGR) (Orange, Connecticut) and Copenhagen Infrastructure Partners (CIP) (Copenhagen, Denmark), began generating 5 MW for the Massachusetts power grid in January.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed project reports on Vineyard Phase I and Phase II, and can read Industrial Info's January 10, 2024, article - U.S. Offshore Wind Projects: Three Steps Backward, One Step Forward.
"As of December 31, 2023, six turbines have been installed [at Vineyard], with the seventh turbine installed in early January 2024," Iberdrola said in an earnings-related press release. "The installation of the interconnection cables has been completed, and the laying of the foundations and commissioning of the onshore and offshore substations are progressing well."
In its onshore wind business, Iberdrola is seeking permits for a proposed repowering of its Rugby Windfarm in Barton, North Dakota, in which it plans to replace 71 turbines with newer models. Missouri River Energy Services (Sioux Falls, South Dakota), which is part of the Southwest Power Pool, purchased 40 MW of output from the 149-MW Rugby Windfarm. Subscribers can learn more from Industrial Info's detailed project report.
Iberdrola's solar projects in the U.S. are poised for significant growth this year, with the $170 million Day Break Solar Plant in Antelope, Oregon, scheduled to begin operations this summer. The facility will use monocrystalline panels from Canadian Solar Incorporated (NASDAQ:CSIQ) (Guelph, Ontario) to generate 140 MW for Oregon's power grid. Subscribers can learn more from a detailed project report.
Aurora Solar LLC, an Iberdrola subsidiary, is proposing two solar projects for one of the sunniest states: the Obed Meadow Plant in Joseph City, Arizona, which would generate 200 MW, and the Cameron Plant in Florence, Arizona, which would generate 100 MW. The Obed Meadow project, if approved, could feature a 200-MW battery energy-storage system (BESS) unit. Subscribers can learn more from detailed reports on the Obed Meadow and Cameron projects.
Iberdrola's growth in the U.S. has attracted the attention of Masdar, the United Arab Emirates' (UAE) state-run renewable-energy company. Bloomberg reports Masdar is considering a stake in Iberdrola's onshore clean-energy assets in the U.S., although Iberdrola says it has not yet been formally approached; the two companies formed a 15 billion-euro (US$16.23 billion) strategic partnership last year to develop offshore wind and green hydrogen projects in the U.S. and Europe.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for active and planned projects in the U.S. involving Iberdrola.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
