Call us on: 0203 318 5757
HOME
MENU
CLOSE

Amazon and Iberdrola boost renewable energy partnership with 476MW PPAs

The agreement expands the partnership to five countries: Portugal, Spain, the US, Germany and the UK.

Electric utility company Iberdrola and technology company Amazon have signed an additional 476MW power purchase agreements (PPAs), expanding their global renewable energy partnership into five countries.

The move includes Amazon’s inaugural PPA in Portugal, with a 219MW commitment from the Tâmega wind complex, which is set to commence construction in early 2025.

In Spain, the partnership has been bolstered by two utility-scale agreements, encompassing both solar and wind energy, totalling 257MW. It includes 212MW from the Ciudad Rodrigo solar PV (photovoltaic) plant in Salamanca, and 45MW from the Valdemoro wind farm in the province of Burgos.

Collectively, these projects are expected to generate 1,093 gigawatt hours (GWh) of carbon-free electricity annually, sufficient to power 300,000 homes each year.

Previous green energy PPAs between Amazon and Iberdrola have included projects in the US, Germany and the UK.

To date, Amazon has contracted more than 66,000GWh of renewable energy from Iberdrola globally, across the lifespan of all signed PPAs.

Since their initial agreement in 2022, Iberdrola and Amazon have extended their strategic partnership to include renewable energy PPAs and cloud services.

Iberdrola executive vice-president customer business Aitor Moso Raigoso stated: “With Amazon, we have a partnership that truly matches our own commitment to develop sustainable energy and drive the energy transition forward around the world.

“With Iberdrola’s extensive global portfolio of renewables, we are continually seeking to expand such partnerships, to accelerate decarbonisation and support businesses in reaching their climate goals.

“Additionally, the AI technology that AWS [Amazon Web Services] is helping to integrate into our business is already delivering tangible results in terms of enabling our renewable energy assets to be even more efficient and helping the smart grid networks that we operate to be even more flexible and reliable.”

In August 2024, Iberdrola selected AWS as its preferred cloud provider for AI workloads. AWS’ AI capabilities are enabling Iberdrola’s distribution business to innovate the grid connection process for new supply points.

Amazon EMEA [Europe, Middle East and Africa] director of energy Lindsay McQuade stated: “Amazon is committed to driving the carbon-free energy transition forward, both to advance our Climate Pledge goals, and support Europe’s transition to more sustainable energy sources.

“We are excited to further support Iberdrola in its growth plans, leveraging the scaleability and services of AWS in data and AI. We are working with Iberdrola to provide a modern virtual desktop platform for their employees and drive innovation across business lines to accelerate innovation and delivery, and achieve our goals faster.”

ALL POSTS

Related Posts

UK House Price Growth Continues — Buying Opportunities Emerge
Wind, Solar and Hydrogen Power UK Industry Into a New Green Age
EV Adoption and Charging Infrastructure Accelerate Across the UK
Self Certified Sophisticated Investor Statement
I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non readily realisable securities. I understand that this means:
i. I can receive promotional communications made by a person who is authorised by the Financial Conduct Authority which relate to investment activity in non-readily realisable securities;
ii. The investments to which the promotions will relate may expose me to a significant risk of losing all of the property invested.
I am a self-certified sophisticated investor because at least one of the following applies:
a. I am a member of a network or syndicate of business angels and have been so for at least the last six months prior to the date below;
b. I have made more than one investment in an unlisted company in the two years prior to the date below;
c. I am working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises;
d. I am currently, or have been in the two years prior to the date below, a director of a company with an annual turnover of at least £1,000,000.00.
I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me to seek advice from someone who specialises in advising on non-readily realisable securities.
High Net Worth Investor Statement
I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-readily realisable securities. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:
I had, throughout the financial year immediately preceding the date below, an annual income to the value of £100,000.00 or more. Annual income for these purposes does not include money withdrawn from my pension savings (except where the withdrawals are used directly for income in retirement). I held, throughout the financial year immediately preceding the date below, net assets to the value of £250,000.00 or more. Net assets for these purposes do not include:
a. The property which is my primary residence or any money raised through a loan secured on that property; or b. Any rights of mine under a qualifying contract of insurance; or c. Any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependants are), or may be, entitled; or d. Any withdrawals from my pension savings (except where the withdrawals are used directly for income in retirement).
I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me to seek advice from an authorised person who specialises in advising on non-readily realisable securities.
Information Request
Your privacy is guaranteed.
All data is handled under current GDPR rules.
Risk Warning
All persons who register as an ‘investor’ on this Website should read carefully the following warnings before making any investment.
All investment products carry risks. The relevant webpages and documents will cover risks specific to an individual offer. Please bear in mind the following general risks involved when investing through this Website:
Your personal decision to invest
A decision to invest in a company is a personal decision by you and no responsibility for the consequences of that decision is accepted by either U.K. Income and Growth or by any of its partners, directors, agents, employees or other members. To invest through this Website you need to understand the following important risks:
You are not covered by the financial services compensation scheme
Investments, whether in new or existing businesses, carry high risks as well as the possibility of high rewards. Accordingly, each investor should consider very carefully whether such investments are suitable in the light of their own personal circumstances, commitments and available financial resources. Engaging in any investment activity may expose you to a significant risk of losing all of your investment. This is a high risk investment and much riskier than a savings account. If a company fails, it is likely that you may lose all, or part, of your initial investment and receive no outstanding or future interest payments. In such circumstances neither the company nor U.K. Income and Growth will pay you back your investment.
Most of the companies in which U.K. Income and Growth invest are new companies with limited if any track record. These companies will provide information such as their business plan and financial forecasts. Please be warned that these documents are not guarantees that the relevant company can achieve what it is hoping to do. Equally the information provided may state certain facts and statements, and again please be warned that U.K. Income and Growth are not responsible for checking the accuracy of these facts and statements, which may not always prove to be true or complete.
Liquidity
As an investor you should be aware that no established market exists for the trading of the bonds and equity in private companies, and such bonds and equity are not easily realisable. It must be appreciated that there could be difficulty in selling such investments at a reasonable price and, in some circumstances, it may be difficult to sell them at any price.
Diversify your investments
Diversification by spreading your money across different types of investments should reduce your overall risk of financial loss. We highly recommend investors do this to maintain a balanced portfolio. Investors should also consider avoiding putting their money in the same investment as immediate family members. Investors should only invest a proportion of their available investment funds due to the high risks involved.
Tax
Tax treatment depends on your individual circumstances and may be subject to change in the future. U.K. Income and Growth recommends that if you require tax advice, you should seek this from a qualified tax professional and recommend that you take your own tax advice on any investments which you make via this Website.
Recommendation
U.K. Income and Growth doesn’t provide advice or make personal recommendations. If you are in any doubt about the action you should take or the contents of a particular Offer Document, you should seek advice from an independent financial advisor authorised under the Financial Services and Markets Act 2000 (+ 2012 Amendments).
Past performance
Past performance is not a reliable indicator of future performance. You should not rely on any past performance as a guarantee of future investment performance.
Where security is in place or assets held in support of the investment, there is a risk that if the underlying borrower defaults, or if there is a delay in realising the asset, then the asset may not be sold for enough to cover the loan or may result in delayed repayment of investors’ money. Additionally, where the security is not a first charge, in the event of a sale of the asset funds will be available to be paid to investors only after payment to the chargeholders who rank ahead of investors.
Disclaimer
Investing in equity opportunities such as those promoted by U.K. Income and Growth, involves risks including loss of capital. Investments made through U.K. Income and Growth are not covered by the Financial Services Compensation Scheme (FSCS).
U.K. Income and Growth is a trading style of Relentless Marketing Ltd, a company registered in England and Wales with Company Number: 11530330 and registered address 71-75 Shelton Street, London, Greater London, United Kingdom, WC2H 9JQ