Spain, affected by regulatory measures
The keys for the first quarter 2015 have been:
- EBITDA from this business came to €428.3 million, a rise of 24.7%, which reflects a drop in Spain that could not be offset by positive performance in the UK, the US and Latin America.
- By business, the EBITDA evolution was the following:
- In Spain, EBITDA was €149.2 million with a 14.7% drop in production of energy compensated by a recovery from the extraordinarily low prices in 2014.
- Renewables in the UK recorded EBITDA of €112.2 million in a year marked by an increase in operating capacity (+14.7) and the startup of West of Duddon Sands, IBERDROLA's first offshore wind farm.
- In the US, EBITDA from renewables came to €88.6 million, driven by a -13.2% rise in production and by favourable weather conditions during the period.
- In Latin America, EBITDA came to €24.5 million, with a 26.2% increase in production, while in the rest of the world it stood at €28.2 million.
- At the first quarter of 2015, the Renewables business had an installed capacity of 14,543 MW. Of the 14,593 MW, IBERDROLA has consolidated 14,051 MW and manages through investee companies a further 542 MW.
- Onshore wind energy: after including 157.7 MW of wind capacity over the last twelve months, IBERDROLA has reached a total installed capacity of 13,986 MW (13,443 are consolidated). This is geographically broken down as follows: 5,753 MW for Spain, 5,595 MW for the United States, 1,432 MW for the United Kingdom and Ireland, 418 MW for Latin America and 738 MW for the Rest of the World.
- Offshore wind energy: at present, IBERDROLA is developing marine wind project that increase main projects capacity up to 2,439 MW, mainly in the UK (65.2%), Germany (14.3%) and France (20.5%). Salient projects include projects at West of Duddon Sands, (North Sea, 389 MWNote (*)); East Anglia ONE (North Sea, 1.200 MW); Wikinger (Baltic Sea, 350 MW); and Saint Brieuc (Côtes D´Armor, 500 MW installed capacity), in consortium with EOLE/RES.
- Marine energy: IBERDROLA continues with the development of marine technologies; after having installed the “Pellamis” P-2 prototype in 2011, for the exploitation of wave energy in the European Marine Energy Centre (EMEC) in Orkney, the Company continues to work on the development of Hammerfest Strom´s prototype with a power 1 MW. In this context, the Sound of Island project, which envisages 10 MW of tidal capacity, continues on schedule. IBERDROLA is also completing the development of two other facilities, one tidal facility and the other one wave facility, with 95 MW and 50 MW, respectively.
- Other renewable technologies: the Renewables business has facilities with other renewable technologies in several countries amounting to 413 MW.
RENEWABLES BUSINESS EBITDA BREAKDOWN (%)
2015 FIRST QUARTER RENEWABLES PRODUCTION BY REGION (GWh)
Total Capacity. Consolidated capacity is 194.5 MW.