An alliance of global energy and industrial giants has increased its own green hydrogen commissioning target by tens of gigawatts while simultaneously lauding the role renewables is set to play.
Spanish utility Iberdrola has expanded its investment in renewables and smart grid projects to €7.03 billion (US$8.15 billion) but its net profit suffered, falling 10.2% to €2.4 billion (US$2.78 billion), according to its recent financial results for 2021 release today.
Average winning solar bids in Spain’s renewables auction this week came in above those for wind as interest among PV bidders faltered against a backdrop of rising equipment costs and regulatory uncertainty.
Spain’s latest renewables auction closed with solar PV bidders being awarded just 866MW of capacity, with players such as Naturgy and Bruc among the winning participants.
Two consortiums have been selected to take part in the tender for the construction and operation of the first long-distance high-voltage direct current (HVDC) power line in Chile, with a capacity of 3GW.
Iberdrola Australia has committed to building a 245MW solar project near Narrandera, New South Wales (NSW) after recently acquiring the project from RES.
Iberdrola has paused tenders for goods and services associated with the construction of renewables projects in Spain following the introduction of new measures in the country that limit the profitability of non-emitting power plants.
Spanish energy company Iberdrola is working with US power technology distributor Cummins on what the pair claim will be one of the world’s largest green hydrogen facilities in Spain.
Spanish energy giant Iberdrola has partnered with oil and gas majors bp and Enagas on a feasibility study to develop a large-scale green hydrogen project in Valencia.
