Iberdrola's renewables increase output by 2.7% y/y in Q2 2022

Spanish utility Iberdrola SA (BME:IBE) increased power production from its renewables across the world by 2.7% year-on-year to 18,738 GWh in the second quarter of 2022.

According to the group’s provisional figures for the April-June period, Spain was again the only one of Iberdrola’s markets where renewables failed to rise above the output level recorded in the same quarter a year ago.

In Spain, Iberdrola generated 5,610 GWh from renewables, down by 11.0% on the year, almost as much as it produced from its nuclear power plants - 5,558 GWh. Its solar PV and onshore wind farms increased output by 130.3% and 8.1%, respectively, while production from large and small hydroelectric plants dropped by over a third compared to April-June 2021.

Renewables in all other Iberdrola’s markets recorded increases in production in year-on-year terms - UK (+26.8%), the US (+3.6%), Mexico (+12.9%), Brazil (9.8%) and markets known as the Rest of the World (23.9%).

In 12 months through June 2022, Iberdrola increased its total installed renewable energy capacity by 8.85% to 38,722 MW, including 13 MW of fuel cells.

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

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