ScottishPower’s renewable earnings soar 29% in first quarter

The company’s latest financial reports suggest this was due to favourable wind conditions and increased capacity

Iberdrola commits fifth of its energy spend to UK

Spanish utility giant Iberdrola plans to invest €32 billion (£28.3bn) in the energy sector between 2018 and 2022 to build solid foundations for sustainable growth in the future. The firm is still confident in the UK’s heat and electricity industry and plans to spend nearly a fifth of the aforementioned funding on British shores. In […]

ScottishPower posts 28% fall in pre-tax profits

ScottishPower has announced a 28% fall in pre-tax profits in the first quarter of this year. It amounted to £347 million compared to £480 million during the same period last year. Its energy networks business saw a 6% fall in profits this year to £210 million, largely driven by the phasing of investments following the […]

ScottishPower sees a fall in profits this year

ScottishPower saw its earnings before interest and tax fall to £924.9 million in the first three quarters of this year. That’s in comparison to £999.4 million during the same period last year. Demand for both gas and electricity dropped this year – by 2.4% and 1.3% respectively. The Big Six supplier’s production share in the […]

Spanish homes to get smart meters

The European Investment Bank (EIB) is funding €325 million (£227.5m) to improve the electricity grid in Spain. Spanish company Iberdrola will use the cash to reform the electricity network and install more than three million smart meters in homes across 10 regions. They include Madrid, Valencia, Pais Vasco and Navarra. The EIB claims the project will help consumers […]

Iberdrola sells all power from 76MW wind project

Iberdrola Renewables has signed a 25-year contract to supply all of the power from its 76MW wind farm in Colorado. It will sell  the electricity to energy company Tri-State Generation and Transmission Association when the project is completed in 2017. The Twin Buttes II project will consist of 38 wind turbines, located south of Lamar, Colorado, […]

Financial giant banks on Iberdrola for green energy

The entire network of a banking group in Spain is to be powered by renewable energy. Iberdrola won the two-year contract to supply green power to BBVA’s 3,000 offices and 71 buildings, which uses 240GWh of energy in total. The bank is expected to reduce around 180,000 tonnes of carbon emissions every year – equivalent […]

Remote controls for all turbines

Wind turbine operators will be able to adjust different wind turbines with one type of software, say the makers of a new technology system. The two Spanish energy companies, Gamesa and Iberdrola, say it means turbines can be managed from anywhere in the world. Normal turbine software can be controlled remotely. What makes the new software unique, they say, is because it works […]

Iberdrola splashes out on hydropower plants

Iberdrola has announced it has modernised and upgraded almost half of its small hydro power plants in Spain. It invested around €10 million (£7.9m) on 35 of its 92 hydro facilities in the last three years, installing “the most efficient and advanced technologies” in an effort to improve their output and extend their lifespan. “The […]

Iberdrola awards €30m smart meter contract

Spanish energy giant Iberdrola has awarded a €30 million (£24.4m) smart meter contract to Avantha group Company CG. The order includes supplying Iberdrola with more than one million smart meters within a year. Spanish utilities are expected to replace 70% of analogue meters by 2016 and 100% by 2018. Smart meter installations in Europe are […]