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Released April 27, 2023 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Global renewable-energy giant Iberdrola S.A. (Bilbao, Spain) is looking forward to the rest of 2023, forecasting an acceleration in investments toward the middle of the year and an overall improvement in business conditions. In the U.S., Iberdrola executives pointed to improved pricing and a jump in power generation, following new installed capacity. Industrial Info is tracking $22 billion worth of active projects from Iberdrola across the U.S., with more than 70% attributed to grassroot or unit-addition projects.
Click on the image at right for a graph detailing Iberdrola's active projects across the U.S., by project type.
Iberdrola produced 5,700 gigawatt-hours (GWh) of renewable energy across the U.S. in first-quarter 2023, a 4.7% increase from the same period last year. The bulk of the output (5,501 GWh) came from onshore wind, with the remainder divided among hydropower and solar.
Like many developers in the same market, Iberdrola has faced an uphill battle in building U.S.-based offshore wind projects. Avangrid Incorporated (NYSE:AGR) (Orange, Connecticut), a subsidiary of Iberdrola, soon will see years of persistence pay off when it begins constructing the $800 million Vineyard Offshore Windfarm near Massachusetts, 14 miles from Martha's Vineyard. The windfarm, which is being built in an area leased by the U.S. Bureau of Ocean Energy Management (BOEM), is designed to generate 400 megawatts (MW) from 33 turbines provided by General Electric (NYSE:GE) (Boston, Massachusetts).
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more from a detailed project report.
Despite its success with Vineyard, Iberdrola and its subsidiaries are proposing more than $10 billion worth of offshore wind projects that have far less certain futures, due to local opposition, high material costs, supply-chain problems, inflation and slow approvals. Subscribers can click here for a full list of active offshore wind projects from Iberdrola, and learn more from Industrial Info's January 31, 2023, article - Vestas Warns of Rough 2023 for Wind-Energy Market; January 3, 2023, article - Will Sustainability Catch Up with Reality in the U.S. Power Market in 2023?; and December 14, 2022, article - U.S. Making Wind Energy Strides, Though Heavy Lifting Remains.
Avangrid is supplementing one of its parent company's existing onshore-wind facilities, the Montague Windfarm in Arlington, Oregon, with a solar plant that will generate 162 MW from about 858,000 photovoltaic (PV) modules; a second phase, also under construction, would double the capacity. Subscribers can read detailed reports on the solar plant and its addition, and a detailed profile of the original Montague Windfarm.
Nearly half of the total investment value for Iberdrola's projects under construction or considered likely to begin construction over the coming year is attributed to transmission and distribution (T&D) projects. One such project, New England Clean Energy Connect in Maine, got a major boost last week when a jury ruled the project can move forward, despite a voter referendum that opposed it. The 145-mile $365 million line is designed to run from the Canadian border near Beattie Township, Maine, to the planned, $300 million Merrill Road Converter Station in Lewiston, Maine. Iberdrola says it will provide 1,200 MW of hydro-sourced electricity to the New England power grid.
Jurors said developers have a "vested right" to complete the project, as enough work had been completed before the referendum, according to an NBC news affiliate. However, opponents of the project will appeal to the state Supreme Judicial Court. Subscribers can read detailed reports on the power line and its converter station.
Iberdrola took a major step toward divesting its fossil-fuel assets earlier this month, when its Mexican subsidiary signed a memorandum of understanding with Mexico Infrastructure Partners to sell 8,436 MW of natural gas-fired, combined-cycle energy to Mexico. The sale includes 103 MW of wind energy. Mexican state-owned utility Comision Federal de Electricidad (CFE) will oversee the operation and maintenance of the facilities. For more information, see April 17, 2023, article - Mexico's President López Obrador Announces Purchase of 13 Power Plants from Iberdrola.
Subscribers to Industrial Info's GMI Project Database 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, U.S.-based projects from 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 Iberdrola's active projects across the U.S., by project type.Iberdrola produced 5,700 gigawatt-hours (GWh) of renewable energy across the U.S. in first-quarter 2023, a 4.7% increase from the same period last year. The bulk of the output (5,501 GWh) came from onshore wind, with the remainder divided among hydropower and solar.
Like many developers in the same market, Iberdrola has faced an uphill battle in building U.S.-based offshore wind projects. Avangrid Incorporated (NYSE:AGR) (Orange, Connecticut), a subsidiary of Iberdrola, soon will see years of persistence pay off when it begins constructing the $800 million Vineyard Offshore Windfarm near Massachusetts, 14 miles from Martha's Vineyard. The windfarm, which is being built in an area leased by the U.S. Bureau of Ocean Energy Management (BOEM), is designed to generate 400 megawatts (MW) from 33 turbines provided by General Electric (NYSE:GE) (Boston, Massachusetts).
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more from a detailed project report.
Despite its success with Vineyard, Iberdrola and its subsidiaries are proposing more than $10 billion worth of offshore wind projects that have far less certain futures, due to local opposition, high material costs, supply-chain problems, inflation and slow approvals. Subscribers can click here for a full list of active offshore wind projects from Iberdrola, and learn more from Industrial Info's January 31, 2023, article - Vestas Warns of Rough 2023 for Wind-Energy Market; January 3, 2023, article - Will Sustainability Catch Up with Reality in the U.S. Power Market in 2023?; and December 14, 2022, article - U.S. Making Wind Energy Strides, Though Heavy Lifting Remains.
Avangrid is supplementing one of its parent company's existing onshore-wind facilities, the Montague Windfarm in Arlington, Oregon, with a solar plant that will generate 162 MW from about 858,000 photovoltaic (PV) modules; a second phase, also under construction, would double the capacity. Subscribers can read detailed reports on the solar plant and its addition, and a detailed profile of the original Montague Windfarm.
Nearly half of the total investment value for Iberdrola's projects under construction or considered likely to begin construction over the coming year is attributed to transmission and distribution (T&D) projects. One such project, New England Clean Energy Connect in Maine, got a major boost last week when a jury ruled the project can move forward, despite a voter referendum that opposed it. The 145-mile $365 million line is designed to run from the Canadian border near Beattie Township, Maine, to the planned, $300 million Merrill Road Converter Station in Lewiston, Maine. Iberdrola says it will provide 1,200 MW of hydro-sourced electricity to the New England power grid.
Jurors said developers have a "vested right" to complete the project, as enough work had been completed before the referendum, according to an NBC news affiliate. However, opponents of the project will appeal to the state Supreme Judicial Court. Subscribers can read detailed reports on the power line and its converter station.
Iberdrola took a major step toward divesting its fossil-fuel assets earlier this month, when its Mexican subsidiary signed a memorandum of understanding with Mexico Infrastructure Partners to sell 8,436 MW of natural gas-fired, combined-cycle energy to Mexico. The sale includes 103 MW of wind energy. Mexican state-owned utility Comision Federal de Electricidad (CFE) will oversee the operation and maintenance of the facilities. For more information, see April 17, 2023, article - Mexico's President López Obrador Announces Purchase of 13 Power Plants from Iberdrola.
Subscribers to Industrial Info's GMI Project Database 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, U.S.-based projects from 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).
