Iberdrola integrates German ops into new subsidiary, names CEO

Spanish electric utility Iberdrola SA (BME:IBE) has decided to bundle all its business activities in Germany into a new company focusing on the operation of large renewable energy facilities and the provision of energy transition services to businesses.

The new fully-owned unit will be named Iberdrola Deutschland and will be led by Felipe Montero as chief executive officer. Thus, Montero returns to Iberdrola after moving to Northland Power in 2020 to direct the development of the 1-GW Hai Long offshore wind farm project in the Taiwan Strait.

Do you know we have a daily hydrogen newsletter? Subscribe here for free!

Berlin-based Iberdrola Deutschland will have dedicated Offshore and Onshore Divisions through which it will engage in the planning, construction and operation of offshore and onshore wind farms along with solar photovoltaic (PV) parks. The separate Commercial Division will be offering electricity supply, long-term renewable power purchase agreements (PPAs), portfolio management services and on-site PV solutions to commercial and industrial customers. At the same time, Iberdrola Deutschland will provide cross-technology integrated solutions, such as battery storage or green hydrogen for industrial use, it noted.

The Spanish utility says that Iberdrola Deutschland is the largest operator of offshore wind farms in the German Baltic Sea. In the near future, it has the intention of opening new offices in cities such as Hamburg, Frankfurt and Munich.