|Bid||10.99 x 0|
|Ask||11.69 x 0|
|Day's range||11.30 - 11.53|
|52-week range||9.09 - 11.96|
|Beta (5Y monthly)||0.50|
|PE ratio (TTM)||15.75|
|Forward dividend & yield||0.18 (1.62%)|
|Ex-dividend date||20 Apr 2023|
|1y target est||N/A|
IBDRY vs. POR: Which Stock Is the Better Value Option?
IBDRY vs. AEP: Which Stock Is the Better Value Option?
They also agreed to joint participation in future tenders for electricity transmission assets in Brazil, with GIC as Iberdrola's preferred partner for future auctions. Iberdrola is vying to consolidate a position as one of the world's leaders in renewable power at a time when utilities are facing a challenging transition away from fossil fuels, accelerated by the need to cut energy dependence on Russia.
The European Union needs to provide greater incentives to support the region's green ambitions, Iberdrola's executive chairman said on Wednesday, praising government subsidies in the United States. Iberdrola Executive Chairman Ignacio Sanchez Galan echoed the comments of other leaders of big European energy companies, who have urged the EU to come up with new incentives in response to the subsidies included in U.S. President Joe Biden's landmark climate package.
Power company Iberdrola plans to sell and lease back land on which some of its wind and solar farms are located as it seeks to lower its borrowing costs, according to three sources close to the deal. Barclays is advising on the transaction, which includes the creation of a company that will own the land, according to the sources. The land involved is in Spain and Iberdrola is looking for offers for a stake of up to 49% in the new holding company to avoid having to account for part of the proceeds as debt, the people said.
The companies intend to establish a facility to offer recycling and second-life solutions for lithium-ion batteries, both from gigafactory production scrap and end-of-life batteries, Glencore said in a statement. The firms have assessed existing battery recycling capabilities and feed availability in Spain and Portugal in collaboration with the Iberian Energy Storage Research Centre, Glencore said.
Spanish power company Iberdrola will seek to expand in the United States and take advantage of its green subsidies after announcing the sale of gas assets worth $6 billion in Mexico, Chief Financial Officer Jose Sainz said on Wednesday. The sale significantly reduces the renewable energy giant's exposure to Mexico, where its relationship with the government has been fraught, and gives it an opportunity to speed up growth north of the border. "Due to IRA, we will probably review our renewable plans in the U.S.," he said, adding that the Mexican sale could also allow acquisitions.
By Scott Kanowsky
MADRID/MEXICO CITY (Reuters) -The Mexican government has agreed to buy 13 power plants from Spanish energy giant Iberdrola in a deal worth $6 billion, which Mexico's president hailed as a "new nationalization" of the electricity market that will amp up state control. In a video posted Tuesday on his social media, President Andres Manuel Lopez Obrador called the accord historic and said it will give state-owned power company Comision Federal de Electricidad (CFE) majority control over the electricity market.
Mercedes-Benz has taken another step towards embracing renewable energy to power its operations.
BERLIN (Reuters) -Mercedes-Benz said on Thursday it had signed a power purchase agreement (PPA) with Spain's Iberdrola for 140 megawatts (MW) of wind energy from a Baltic Sea wind park, part of automakers' push to make production costs more predictable. Production chief Joerg Burzer told Reuters that Mercedes was focusing on securing wind capacity in northern Germany and installing solar capacity in the south of the country, which gets more sunshine but is less windy. The Iberdrola deal, in which Mercedes will invest a three-digit million euro figure, means the carmaker has solar, onshore and offshore wind PPAs for capacity equivalent to half of its electricity demand in Germany by 2025, Burzer said in an interview.
The deal, with Siemens Gamesa, will build enough capacity to supply about 1.3 million homes when the wind is blowing, the company said.
BP and Iberdrola ink a strategic partnership agreement to hasten the energy transition process in sustainable mobility.
MADRID (Reuters) -Spain's biggest utility Iberdrola expects its net profit to increase by 8% to 10% this year from 2022, it said on Wednesday, discounting the country's windfall tax that would cut the growth rate to the mid-single-digit. Following Russia's invasion of Ukraine a year ago, energy markets in Europe hit record highs, adding to economic pain in countries reeling from the impact of the COVID-19 pandemic. Iberdrola, which is Europe's largest utility by market capitalisation, but not by revenue, posted a net profit of 4.34 billion euros ($4.63 billion) in 2022, an increase of 11.7%.
LONDON/MADRID; (Reuters) - Spanish power company Iberdrola is considering the sale of a stake in its U.S. renewables business to help to finance new investments, two sources with knowledge of the matter told Reuters. One of the sources said that Iberdrola had appointed a bank to work on a possible sale of a minority stake in the renewables operation but the process was at a preliminary stage and no information has yet been sent to potential buyers. Iberdrola declined to comment.
MILAN (Reuters) -Italy's antitrust authority has ordered Spanish utility Iberdrola and Germany's E.ON to reinstate the original electricity and gas contracts they had with customers, it said on Friday. The watchdog also asked Italian utilities Iren and Dolomiti to stop what it alleged to be "illegitimate notices" regarding changes to the economic conditions of their offers. The authority, which opened an inquiry into utilities last week, said that companies must report within five days on the steps they had taken to comply with the precautionary measures.
MADRID (Reuters) -Spanish utility Iberdrola posted a 29% rise in nine-month net profit on Wednesday as growth in the United States and Brazil helped offset a fall in Spain that the company's chairman partly blamed on government overregulation. Iberdrola reported a net profit of 3.1 billion euros ($3.09 billion) for the January-September period and said geographical diversification allowed it to maximise growth and benefit from positive currency swings. In Spain, however, profit fell by 14% as summer droughts hampered hydroelectric generation, which was almost 48% lower than last year, Iberdrola said.
MADRID (Reuters) -Armando Martinez will become chief executive officer of Iberdrola after Europe's leading power utility opted to separate the positions of executive chairman and CEO as the sector faces a challenging transition towards greener energy. Iberdrola said on Tuesday that following the proposal of the appointments committee, Jose Ignacio Sanchez Galan would stay on as executive chairman of the company. Shares in Iberdrola rose 2.38% by 1456 GMT, while Spain's leading blue-chip index Ibex-35 was up 1.43%.
Italy's competition watchdog has opened inquiries into Italian utility Iren, Spain's Iberdrola and German's E.ON over some of their alleged electricity and gas contract practices with customers, it said on Wednesday. The authority accused Iren and fellow Italian utility Dolomiti of making unlawful unilateral changes in the electricity supply price, it said in its statement. Iren said in response that its actions were in line with rules and it was committed to protecting its customers struggling with rising energy prices.
LONDON (Reuters) -Spanish power company Iberdrola is looking to sell its onshore wind farms in Romania and Hungary as part of a strategy to raise cash to fund more lucrative renewable energy projects, two sources told Reuters. The sale is worth up to 300 million euros, the sources said. Iberdrola is selling fully operational assets to investors with a lower cost of capital in order to finance the development of new renewable projects and grids in its main markets Britain, the United States, Spain and Brazil.
All Iberdrola's residential customers will be given help to pay their bills over longer periods if the Red Cross assesses their circumstances and considers that they are vulnerable, it said. Britain's Centrica last month pledged to donate 10% of profits from its British Gas unit to a support fund for poorer customers and Germany's energy regulator said households would be prioritised if Berlin activates an emergency gas plan.
Abu Dhabi's Masdar and Canada Pension Plan Investment Board (CPPIB) are weighing binding offers for a 40% stake in Iberdrola's German offshore wind farm in a deal that will value the project known as Wikinger at 1.4 billion euros, a source close to the matter told Reuters. Europe's largest utility is holding calls with the prospective buyers for the minority stake of the wind farm, two sources said, and it will select a winner in coming weeks. Iberdrola, InfraRed and EIP declined to comment while Masdar and CPPIB could not immediately be reached for comment by Reuters outside regular business hours.
Europe's biggest utility Iberdrola posted a 36% rise in half-year net profit on Wednesday as strong results in the U.S., UK and Brazilian markets offset a fall at home in Spain. European energy prices have soared as markets still reeling from the havoc COVID-19 played on supply and demand were hit with supply disruptions and uncertainty caused by Russia's invasion of Ukraine. At Iberdrola's Spanish business, dry weather hampered hydroelectric generation and nuclear plants churned out less power than expected.
Spanish power group Iberdrola will develop 16 new renewables projects in the UK after it secured their financial viability through contracts for difference (CfD) with the British government, the company said on Thursday. Through ScottishPower, its subsidiary in the UK, Iberdrola has obtained CfDs for its large East Anglia Three offshore wind project as well as five smaller onshore wind projects and 10 photovoltaic sites. The news is an important step towards the construction of the East Anglia Three offshore wind farm, which will involve investments of about 4 billion euros, the company said.
Spain's High Court on Thursday closed an investigation into the alleged role of power utility company Iberdrola's Chief Executive Ignacio Sanchez Galan in a 15-year-old spying case, citing the statute of limitations. The court was investigating whether Iberdrola hired former police chief Jose Manuel Villarejo, who ran intelligence services company Cenyt, to spy on Real Madrid soccer club president Florentino Perez when Perez's construction company ACS was fighting for a seat on Iberdrola's board in 2009.