The market value of Brazil’s largest electricity distributor, Eletropaulo Metropolitana has doubled in the past month thanks to a fierce bidding war between European rivals Enel and Iberdrola.
Iberdrola is on the cusp of acquiring Brazilian electricity distributor Eletropaulo after improving on an earlier offer by Enel last week.
Iberdrola is to install 25,000 electric vehicle (EV) charging points across Spain by 2021.
Big claims from the CEO of a major European utility often make headlines, especially so when doused in jeopardy. Recent statements from Ignacio Galan, the man at the helm of Spanish giant Ibedrola, that ‘Enron-style collapses’ could be around the corner in the renewables industry were certainly noticed. But how much of this is true, and how much could be attributed to a large incumbent trying to scare smaller, newer companies away from the sector?
Iberdrola has announced plans to invest billions of euros over the next four years, with over a third to be spent on renewables.
The renewable energy sector is mindful of the threat posed by the end of cheap finance but believes there is enough resiliency among industry players to maintain a healthy market.
A report by respected German magazine, Der Spiegel, on the potential sale of Innogy, has been denied by the company’s owners.
The chief executive of Spanish utility Iberdrola, Ignacio Galan, has warned of the prospect of financial disaster for the global renewable energy sector, reminiscent of the collapse of Enron.
Iberdrola has connected its 350 MW Wikinger offshore windfarm to Germany's grid, the Spanish firm announced today.