Spanish energy group Iberdrola has decided to increase its capital expenditures by 23% in 2020, from €8.15bn in 2019 to €10bn, to support the economic recovery after the pandemic. The group aims to commission 4.5 GW of new capacity by the end of the year, i.e. half of the 9 GW currently under construction. Indeed, Iberdrola is currently building 30 solar power projects and 50 offshore wind projects, in addition to the 1,158-MW Tâmega hydropower complex in Portugal, more than 5,000 kilometres of high voltage transmission lines in Brazil and new distribution networks in the states of New York, Maine and Connecticut (United States).
In February 2020, Iberdrola released provisional operational figures for 2019: the group's installed capacity rose by nearly 5.4 GW to almost 52.1 GW (+11.5%), mainly thanks to new onshore wind projects (+1.2 GW to 16.8 GW), offshore wind projects (+420 MW in the United Kingdom to 964 MW), hydropower projects (+612 MW in Brazil), and new solar capacities (+489 MW to 1,018 MW); CCGT power capacities also rose significantly (+903 MW of net own capacity in Mexico and +1.7 GW of net capacity for third parties in Mexico). Iberdrola's capacity in Spain rose by 737 MW to 26,624 MW, thanks to the commissioning of 500 MW of solar capacity and of 235 MW of onshore wind capacity.
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