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Renewable Energy Business

Renewables EBITDAup 18.9% to Eur 824.7 M, driven by the recovery in Spain and the strong performance in the UK

The keys for the first half 2015 have been:

  • By business, the EBITDA evolution was the following:  
    • In Spain, EBITDA was €260.5 million with a (-9,4%) drop in production of energy compensated by a recovery in prices.
    • Renewables in the UK recorded EBITDA of €242.5 million in a year marked by an increase in operating capacity (+27.4%) and the startup of West of Duddon Sands, IBERDROLA's first offshore wind farm.
    • In the US, EBITDA from renewables came to €259.8million, affected mainly by lower output (-11.7%) vs H1 2014, due to climate conditions in the West.
    • In Latin America, EBITDA came to €37.6 million, as a consequence of higher output (+18.2%) in Mexico and Brazil.
    • In the rest of the world, EBITDA came to €50.7 M, underpinned by a better load factor that increased production by 11.2%.
    • At the first half of 2015, the Renewables business had an installed capacity of 14,543 MW. Of the 14,593 MW, IBERDROLA has consolidated 14,083 MW and manages through investee companies a further 542 MW.
  • Onshore wind energy: IBERDROLA has reached a total installed capacity of 14,017 MW (13,475 are consolidated). This is geographically broken down as follows: 5,753 MW for Spain, 5,645 MW for the United States, 1,432 MW for the United Kingdom and Ireland, 441 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-2prototype 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.

Further information on economic-financial and operating data of the IBERDROLA Group can be found in the section In Figures and First Half 2015 Report Results [PDF].

RENEWABLES BUSINESS EBITDA BREAKDOWN (%)

2015 FIRST QUARTER RENEWABLES BUSINESS EBITDA BREAKDOWN (%): U.S. 18%; Spain 35%; UK 111,2%; RoW - 6%; Latin America - 6%.

2015 FIRST QUARTER RENEWABLES PRODUCTION BY REGION (GWh)

2015 FIRST QUARTER RENEWABLES PRODUCTION BY REGION (GWh): Wind U.S. 5,645 MW – 38.8% Wind Spain – 5,753 MW – 39.5% Wind U.K. – 1,432 MW – 11.1% Wind RoW – 738 MW – 4.2% Other renewables – 607 MW– 5%;

Footnotes:

  • Note (*) Total Capacity. Consolidated capacity is 194.5 MW.
  • © 2015 Iberdrola, S.A. All rights reserved.