Iberdrola's investments in renewables have increased the group's energy production and installed capacity in the first quarter of the year. The company reported an increase of 11 % in the group's global renewable energy production, reaching 24,137 GWh in the first quarter of the year.
The company exceeded 40,000 MW of installed renewable capacity, reaching 40,344 MW, which is an increase of 5.3 %. Total capacity was above 61,000 MW. By technologies, photovoltaic capacity rose by 40 %, to 4,576 MW, due to new installations in Australia, Spain, the United States and Brazil. Onshore wind increased by 4 %, reaching 20,202 MW.
Geographically, Spain has seen the largest renewable capacity increase in the first quarter. Compared to the same period last year, 644 MW of new capacity has been added, mainly solar PV, contributing to a total renewable capacity of 19,953 MW in the country. Brazil added 549 MW of new capacity, including the development of the Oitis wind farm and the Luzia photovoltaic plant. In the United States, the company reached 8,722 MW, with the installation of 357 MW of new renewable energy, including 200 MW of new solar in Oregon. Additionally, 489 MW of new clean capacity have been installed in other markets, with Australia contributing 250 MW.
Iberdrola has committed to invest 17 billion euros between 2023-2025 in high-quality renewables projects with the best risk/return ratio. Of this amount, 46% will focus on offshore wind in France, Germany, the UK and the United States. Additionally, onshore wind will account for 25% of the investment, photovoltaic 24%, hydro 2% and batteries 3%.
