Iberdrola’s electricity distribution company, i-DE, plans to invest $517 million (€477 million) in the electricity networks of the Valencian Community between 2022 and 2024. An amount that will represent a 30% increase in the investment made in the previous three-year period. The increase will be attributed to the electrification of the economy, and the deployment of new renewables and charging points for electric vehicles planned for the coming years.
As explained by Iberdrola, the historical operator in the Valencian market, these plans seek to achieve the decarbonization objectives committed to in the National Integrated Energy and Climate Plan (PNIEC).
The main actions planned for this period in the region include the construction of new substations in Castalla, la Vila Joiosa, Monserrat, Sanxo Llop (Gandia), Boveral (Vinaròs), and Peñíscola, as well as extensions to the transformation facilities in Alcúdia, Betxí, and Rambleta (la Vall d’Uixó) and the renovation and expansion of the capacity of the Burriana infrastructure.
If you want to find more details about Iberdrola’s plans to invest in the Valencian grid and to read the latest financial news from around the world, download for free our companion app Born2Invest. Don’t waste your time scrolling the internet, let our team of seasoned journalists do that for you.
The investment plan for the next three years presented by the electricity company has a triple objective
On the one hand, to meet the growth in demand, associated with the electrification of transport and air conditioning, and production, with more renewables and distributed generation. On the other hand, it seeks to improve the resilience of the electricity grid to meet the challenges of climate change. Finally, it also seeks to promote the modernization of processes on this electricity distribution infrastructure.
Planning that Ana Lafuente, i-DE’s director in the Valencian Community, has presented to the general director of Industry, Energy, and Mines of the Generalitat Valenciana, Empar Martinez, during a meeting.
In the autonomous region, i-DE manages more than 68,000 kilometers of low and medium voltage lines and more than 3,400 km of high and very high voltage lines. It also has 25,000 transformer stations in service and 177 primary and secondary substations.
In recent years, i-DE has undertaken an ambitious plan to digitalize its electricity networks in the Valencia Region, where it has converted its more than 3.5 million meters and the infrastructure that supports them into smart meters, incorporating remote management, supervision, and automation capabilities.
Iberdrola’s investment will also generate a great number of jobs
The investment in distribution networks generates some 30,000 highly skilled local jobs each year. It also supports an industrial value chain with 90% of local suppliers, many of them SMEs (capital goods manufacturers, engineering, assembly companies, civil works, logistics, raw material suppliers, insulators, welding, etc.), distributed throughout the territory.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in elEconomista.es, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Digital Cannabis? Rapper Snoop Dogg Plans to Create an Online Cultivation Farm
Snoop Dogg will invest in a digital cannabis farm. The singer's new business is not his first, Snoop has other...
Ethereum Classic Price Forecast: Dead Cat Bounce Pattern Forming
Ethereum Classic is a blockchain project that aimed to realize the original vision of the Ethereum blockchain. It is a...
Sanofi Increases its Investment in Oncology in Spain by 35% to 6.7M in 2021
Immuno-oncology and molecular oncology are two of Sanofi's most promising bets to tackle some of the most difficult-to-treat cancers. While...
IBEX Will Be Strengthened in ESG if it Reviews its Composition in June
Sacyr has been participating in the CSA survey for more years than Acciona Energía, but it was in last year's...
Einicia Relaunches its Crowdfunding Activity with a New Investment Opportunity
Einicia, founded in 2016, now relaunches its activity by offering loan and investment opportunities of high interest, high profitability, maximum...
Cannabis2 weeks ago
German Health Minister Wants to Speed Up Cannabis Legalization Process
Crowdfunding2 weeks ago
Exit for Bloovery Investors Who Had Closed Three Equity Crowdfunding Rounds
Biotech2 weeks ago
Pangaea Oncology, Seeking 12 Million to Grow with Acquisitions
Featured2 weeks ago
The Fintech Company Clark Closed a €100 Million Deal