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Iberdrola Increases its Investment in the Valencian Grid by 30%

In recent years, i-DE, Iberdrola’s electricity distribution company, 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.

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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.

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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.

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(Featured image by Pixabay via Pexels)

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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.

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Andrew Ross is a features writer whose stories are centered on emerging economies and fast-growing companies. His articles often look at trade policies and practices, geopolitics, mining and commodities, as well as the exciting world of technology. He also covers industries that have piqued the interest of the stock market, such as cryptocurrency and cannabis. He is a certified gadget enthusiast.