Major European utility Iberdrola plans to replace coal-fired plants with solar, wind

cnbc.com General,  International 2019-12-03 10:08:37

Major Spanish utility Iberdrola is to replace its two remaining coal-fired power plants with renewable facilities.


An application for the "orderly phase out" of the firm's Lada and Velilla plants was made in 2017, with the Spanish government expected to announce its ruling next year.


In a statement on December 2, Iberdrola said it intended to replace the coal-fired plants, which have a combined capacity of 874 megawatts (MW), with 500 MW of wind and solar.


Speaking to CNBC's "Squawk Box Europe" on December 2, Iberdrola CEO and Chairman Ignacio Galan said there were technologies which allowed electricity generated with fossil fuels to be generated with renewables.


Galan was speaking to CNBC on the first day of the COP25 climate summit in Madrid. He sought to emphasize the importance of the COP21 summit, which took place in Paris in 2015.


It was at COP21 that world leaders committed to make sure global warming stayed "well below" 2 degrees Celsius above pre-industrial levels. They also agreed to "pursue efforts" to limit the temperature rise to 1.5 degrees Celsius.


"Paris was for me, a step forward, very important," Galan said. "Because before Paris there were very many people who were denying that the climate … is a problem."


While the Paris Agreement has been hailed as a landmark, it suffered a blow on November 4 when the U.S. Secretary of State, Mike Pompeo, officially announced that the country had started the process to withdraw.


"Per the terms of the Agreement, the United States submitted formal notification of its withdrawal to the United Nations," he said in a statement. "The withdrawal will take effect one year from delivery of the notification."


On November 30, the State Department said the U.S. would "continue to participate in ongoing climate change negotiations and meetings" like COP25 "to ensure a level playing field that protects U.S. interests."


Speaking about his firm's operations in the U.S., Galan sought to strike a positive tone. "Almost all our production, all our generation, is renewables in the country," he said.


"But I think the United States, the energy policy (is) certified by states, I think in most of the states they have already very ambitious targets of emissions reduction, very ambitious targets of implementation of renewables," he explained, adding that this was the case on both the east and west coasts.


Galan said Iberdrola had a presence in 23 states. "In all those states, renewables are welcome," he added.


(Writing by Wenxin Wu  Editing by Alex Guo)
For any questions, please contact us by inquiry@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

Editors Recommendations

1 China's thermal coal expected to go south amid falling demand 2020-05-29

Spot prices of Chinese domestic thermal coal are expected to fall in the near term, as demand from utilities has been weakening. Data from sxcoal.com showed the daily coal burn at China's

2 China coking coal prices stabilize after hitting 34-mth low 2020-05-29

China's coking coal prices have been leveling off these days after touching a 34-month trough on May 20, bolstered by downstream restocking and production cuts during the "Two Sessions" (May 22-28).

3 Chinese seaborne thermal coal market shows signs of softening 2020-05-29

Chinese seaborne import thermal coal market showed signs of weakening late this week, given a dearth of sales as end buyers suspended procurement of foreign cargoes amid domestic market uncertainty.

4 QHD port coal stocks keep falling on active selling by traders 2020-05-29

Coal stockpiles at Qinhuangdao port kept decreasing as traders started actively selling off cargoes in hand after spot thermal coal market softened. The port's inventory fell 5,000 tonnes

5 China excludes clean coal projects from list eligible for green bonds 2020-05-29

China has excluded "clean coal" from a list of projects eligible for green bonds, according to long-awaited new draft guidelines published by the central bank on May 29. The new catalogue

6 China Coal Daily Track (May 29) 2020-05-29

Thermal coal Production area In Inner Mongolia, some coal mines suspended operation as their "coal sale quotas" have run out. Limited supply resulted in a small price rise at these mines.

7 China's new energy installations possibly the highest in history this yr 2020-05-29

In 2020, China's new energy installed capacity will likely reach a new high. On May 25, the National Energy Administration issued an announcement saying that the combined "newly-added dig

8 S Africa Richards Bay Apr coal exports plunge to 9-yr low 2020-05-29

Coal exports from Richards Bay Coal Terminal (RBCT), the largest coal port in South Africa, hit a nine-year low in April, as slump in flows to India and South Korea more than offset increase in volume

9 Two Sessions: Chinese delegates call for more imports of premium coking coal 2020-05-29

Chinese delegates of NPC called for more imports of premium coking coal, in order to boost green development of steel industry. Domestic steel production has been plagued by supply shorta

10 CIL coal supply to power sector dips 22% to 32 Mt in Apr on demand slump 2020-05-29

The supply of coal to the power sector by state-owned Coal India has dropped 22% to 31.95 million tonnes in April amid slump in the fuel demand in the country on account of COVID-19-induced lockdown.

Most Read Articles

1 China Apr thermal coal imports surge 88.95% on yr 2020-05-28

China's thermal coal (incl. bituminous and sub-bituminous coal, but excl. lignite) imports in April surged 88.95% compared with the corresponding month last year, official data said, reaching a record

2 Thermal coal imports for blending in India to be eliminated in FY2020-21 2020-05-26

Indian government has decided to bring to zero import of coal for blending purpose by domestic coal-based power plants in the current fiscal, and has asked state-owned CIL to enter into a pact with po

3 China's spot thermal coal uptick stronger than expected 2020-05-26

Chinese spot thermal coal market witnessed stronger-than-expected upticks during last week, with Fenwei CCI 5500 index rising by a total 52 yuan/t to 543 yuan/t FOB and registering daily increase of o

4 China's coal imports from Mongolia continue to rise, adding pressure to price 2020-05-26

On May 23, Mongolia exported a total 955 trucks of coal to China through two major hubs Gashunnsukhait (Ganqimaodu) and Shivee Khuren (Ceke), Mongolian media GoGo Mongolia reported. The f

5 China's import thermal coal market at a crossroad after nearly 1-mth rebound 2020-05-26

Chinese seaborne import thermal coal market seems at a crossroad as Indonesian coal prices stabilized after rebounding since early May and Australian coal faced dwindling appetite. Wait-a

6 China urges top utilities to speed up transfer of 40 coal-fired power plants 2020-05-27

China has urged the country's five biggest utilities to speed up the transfer of 40 coal-fired power plants in the northwest of the country, according to a document seen by Reuters and confirmed by a

7 Bullish sentiment moderates in Chinese thermal coal market; offer prices slide 2020-05-26

After climbing fast for more than a week, Chinese domestic thermal coal market paused on May 26, as the bullish sentiment was dented by a drop in futures market and people started concerning risks of

8 Chinese domestic thermal coal market keeps cooling down as sentiment weakens 2020-05-28

Sentiment continued to weaken in China's spot thermal coal market amid concerns of recovering supply and falling demand in the coming month, dampening trading activities at northern ports.

9 Indonesian thermal coal uptick slows amid uncertain Chinese market 2020-05-27

Trading prices of Indonesian thermal coal were seen at a slower rise in Chinese import market in the middle of this week, as some end users held back on buying amid "wait-and-see" sentiment toward dom

10 Two Sessions: Chinese delegates call for more imports of premium coking coal 2020-05-29

Chinese delegates of NPC called for more imports of premium coking coal, in order to boost green development of steel industry. Domestic steel production has been plagued by supply shorta

Scan to download sxcoal.com mobile APP

X