Iberdrola's renewables boost output by 1.1% y/y in 2022

Spanish utility Iberdrola SA (BME:IBE) generated 74,525 GWh of electricity from its renewables worldwide in 2022, increasing production by 1.1% year-on-year, according to the company's preliminary figures.

The smaller growth in production was mainly the result of lower hydroelectric output in Spain, where generation levels plunged by a third compared to 2021. Production from offshore wind farms fell by 2.6% year-on-year to 4,497 GWh.

Solar PV farms produced 3,837 GWh of electricity, up by 43.6%, thanks to a boost in installed capacity, Iberdrola said.

In Spain, the overall production from renewables declined by 16.2% compared to 2021. Except for a drop in offshore wind output in the UK and Germany, production levels from assorted renewables increased in all other markets -- the UK (+16.5%), the US (4.1%), Mexico (+6.7%), Brazil (+23.5%) and markets grouped together under the the Rest of the World label (+11.5).

At the end of 2022, the utility had 39,963 MW of renewables installed around the world, up from 38,035 MW a year earlier. This new capacity was added to Iberdrola’s onshore wind and solar PV generation fleet, while the capacity of other technologies was largely unchanged.

Selected figures from Iberdrola’s provisional energy report are presented in the table below:

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