Iberdrola's global renewables capacity rises to over 42 GW in 2023

Spanish utility Iberdrola SA (BME:IBE) on Friday said its installed renewable energy capacity worldwide exceeded 42 GW at the end of 2023, after a year of wind and solar additions.

The company reached a total of 42,072 MW of net own capacity -- distributed between onshore and offshore wind, solar photovoltaic, hydro and mini-hydro, batteries and fuel cells -- at the end of December 2023, compared with 39,962 MW calculated a year prior, according to Iberdrola’s latest provisional energy report. Once net renewables capacity for third parties is included, Iberdrola’s total result for 2023 came at 42,175 MW.

Global electricity production from net own renewables increased by 6.3% year-on-year to 79,329 GWh between January and December, thanks to a higher output from offshore wind, large hydro and solar power plants.

The year saw onshore wind power production decline in Spain (-8.7%), the UK (-18.6%), the US (-3.5%) and Mexico (-16.1%). In Brazil and markets known as the Rest of the World (ROW), onshore wind farm increased output by 29.5% and 11.7%, respectively.

Solar power production fell in the UK (-29.6%), but rose in Spain (33.6%), the US (162.3%), Mexico (0.2%) and Brazil (166.5%). Corresponding data for the ROW markets was not available.

Selected figures from Iberdrola’s provisional January-December 2023 energy report follow in the table below:

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