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 Indonesian thermal coal prices inclined to stabilize in near term 2019-12-06

Indonesian thermal coal prices held largely steady in China's seaborne import market, a situation traders thought would continue in the short run, as both bullish and bearish factors were interweaved

2 Chinese spot thermal coal loses ground on soured outlook 2019-12-06

Spot thermal coal traded at China's Bohai-rim ports started losing ground after inching up for nearly a month, owing primarily to soured outlook after CHN Energy cut November monthly term contract pri

3 Gazprom's natural gas production up in Jan-Nov 2019-12-06

Russian giant Gazprom said its natural gas production during the past eleven months of 2019 had hit an estimated 454.2 billion cubic meters. Compared to the corresponding period in 2018,

4 Shandong Rizhao port coal throughput keeps rising 2019-12-06

Coal handlings have been on rapid increase at Rizhao port in eastern China's Shandong province, pointing to more significant role played by the transfer hub. With an annual growth a

5 China steel prices tick higher in week ending Dec 1, MOC 2019-12-06

China's steel products prices edged up 0.4% in the week through December 1 compared with the week before, extending a rally for five weeks and rebounding 2.5% from recent low in late October, showed d

6 Chinese steel industry to come under more headwinds, CISA 2019-12-06

Chinese steel industry is likely to come under more headwinds in the next year, as demand may continue to be hurt by slowing economic growth, and production will remain active to lead to a surplus, sa

7 China Coal Daily Track (Dec 5) 2019-12-05

Thermal coal Production area Prices held steady as a whole in Ordos of Inner Mongolia, while a few mines raised prices due to falling coal output near the year-end. Coal prices were also uncha

8 Chinese coal-fired power plants may face eased lossmaking pressure next yr 2019-12-05

The operating pressure that Chinese coal-fired power producers have been bearing is expected to decrease in the next year, as domestic thermal coal prices may move downward impacted by term contract p

9 Shanxi approves 37 Mtpa coke capacity cut plans at five major cities 2019-12-05

Shanxi has approved plans of shedding around 37 million tonnes per annum coke capacity in five major cities by 2020, a further step to push forward de-capacity in the industry. Coke

10 Indonesian thermal coal prices marching higher in China amid active purchases 2019-12-05

Indonesian thermal coal prices have been climbing by $2/t since late November in Chinese seaborne import market, spurred by buying demand from Chinese buyers, which could possibly be the last time of

Most Read Articles

1 Mongolian coal trucks stranded at transit area amid China's import curbs 2019-11-27

Around 4,000 coal trucks were stranded at Tsagaan Khad, a key transit station in Mongolia for coal delivery to China, mainly due to slowed clearance at Ganqimaodu border crossing in China connecting M

2 China's Oct coking coal imports hit 8-mth low 2019-11-25

China's coking coal imports toughed an eight-month low in October, showed the latest customs data. The country took 5.7 million tonnes of coking coal from its main supplying countries las

3 Chinese traders hold off thermal coal purchases as long-term contract talk nears 2019-11-26

Many Chinese traders were holding off purchases in the domestic thermal coal market as the 2020 long-term contract negotiations draw nearer. The contract talk between leading coal miners

4 An overview of Chinese coal imports in Oct 2019-11-27

China's coal imports further lost strength in October, as utilities were not keen to buy amid high stocks and mounting concerns over tighter government restrictions. The world's top consu

5 China Oct thermal coal imports decline for 2nd mth, customs 2019-11-25

China's thermal coal imports dropped for the second consecutive month in October, dragged by tighter import curbs as the world's top consumer looks to rein in this year's total import amount.

6 China import thermal coal prices rebound on bullish outlook 2019-11-27

Chinese seaborne import thermal coal market is embracing a rebound after some Indonesian miners raised offers for low-calorific value coal early this week. This is backed by expectations

7 Indonesian thermal coal sinks to 3-mth low in Chinese import market 2019-11-25

Indonesian low-calorific value coal sank to a three-month trough late last week in Chinese import market, pressured down by reduced trading activity after China tightened import restrictions.

8 Shanxi coking coal prices backed by output falls; Mongolia coal further weakens 2019-11-26

Coking coal prices were backed by regional output falls in northern China's Shanxi province recently, as production was curtailed or suspended at some local mines, alongside stricter safety inspection

9 China thermal coal trades stay unprofitable despite improving market 2019-11-25

Some Chinese domestic traders reported thermal coal trades were unprofitable for the time being at northern China ports, even though the market has improved since mid-November. "Brokers c

10 China coking coal prices mixed; Dec-laycan Australian coal edges up 2019-11-29

Coking coal prices were mixed in many Chinese main production areas on November 28, with prices of low- and high-sulfur primary coking coal climbing up while that of blending coking coal sagging due t

Scan to download sxcoal.com mobile APP

X