The president of the Iberdrola group, Ignacio Galan, sees in a very positive way the constitution of the Government in Spain, particularly because of the 'reinforcement' that represents raising Vice Presidents to the Economic Affairs Ministers, Nadia Calvino, and Ecological Transition, Teresa Ribera.
Speaking to Efe during the Davos meeting of the World Economic Forum, Galan has praised the decision of the President of the Government, Pedro Sanchez, who visited the Swiss Alpine town on Wednesday, to surround himself with a 'powerful' economic team that, in his opinion , will know how to manage a context of 'certain deceleration of which he is aware'.
In his opinion, this intention is perceived with confidence from international markets, something essential, and notes that Spain is a consolidated democracy where different political options alternate without problem and currently enjoys political stability.
In addition, Galan values Ribera's relevant role in the Government in a special way, since Iberdrola has been a company very involved in the ecological transition, a process -he said- 'in which we have been working for more than 20 years'.
In his opinion, the ecological transition represents not only an opportunity to fight against climate change, but a means to create employment and attract investment. This is also seen by the European Commission, whose first vice president, Frans Timmermans, leads the Green Deal or European Green Pact project.
In this regard, Galan points out that the goal of 'net zero carbon emissions' by 2050 established by this Green Pact 'will require large investments.' The president of Iberdrola recalls that, according to the American investment bank Goldman Sachs, the accumulated investment necessary to achieve this objective could amount to 7 billion euros in the European Union (EU).
In any case, Iberdrola is confident that the agreement 'is the basis of a regulation that encourages investment, streamlines procedures and rewards those who are really transforming their business model towards the green economy.' In the last two decades, he says, Iberdrola has accumulated more than 100,000 million euros of investment in clean energy, networks and storage.
Iberdrola's commitment to sustainability, the fight against climate change and social and environmental responsibility comes from afar, since 'it is in our statutes'. And remember that the company has, for example, a social dividend, which proves that it can be done 'and at the same time be profitable,' as one of its main shareholders, Blackrock, has acknowledged in a recent letter.
Iberdrola closed a 'frankly positive' exercise in December, with a record of production and results, Galan explains, and, thanks to a 'significant investment effort', has installed more than 5,000 new megawatts of power, while planning to beat again its record of results, with growth in the double digit environment.
The year that has just begun will be marked by 'stability, growth and predictability', with the aim of reaching 10,000 million euros in investment in 'increasingly intelligent and reliable' electricity networks, as well as in new renewable capacity and in efficient storage.
With regard to offshore wind energy, Galan mentions several projects 'totaling more than 2,500 megawatts', such as the inauguration in 2020 of East Anglia ONE , or the launch of Saint-Brieuc , in France; Baltic Eagle , in Germany, or Vineyard Wind , in the United States.
On the competition of companies from other sectors, such as oil companies, in the electricity market, Galan says that 'competition makes us all better, for the benefit of customers', and reminds that since the liberalization of electricity In Spain, in 2003, the company has always defended this extreme.
Do not forget that the sector needs 'large investments' to materialize its contribution to the decarbonization of the economy, investments that the Ministry for Ecological Transition estimates at about 200,000 million euros, if you want to achieve 'environmental objectives' set.
Contact:
Juan Llobell
Tel: +34 91 784 32 32
Email: comunicacioncorporativa@iberdrola.com
IBERDROLA, S.A. 
