Iberdrola’s renewables capacity rose by just over 5% in 2022, taking the number of owned wind, solar, hydroelectric and battery assets to almost 40GW.
The 5.1% growth was largely in onshore wind, with a 20.1GW portfolio at the year end, closely followed by solar, which rose to 4.3GW.
The Spanish investor also has a further 103MW of onshore wind assets under management for third parties.
Iberdrola’s offshore wind portfolio stood at 1258MW.
In October 2022, Iberdrola signed the agreement reached with Energy Infrastructure Partners (EIP) for the sale of 49% of its offshore wind farm in German waters in the Baltic Sea (Wikinger) for €700m.
Overall, the company’s EBITDA increased by 10% to €13.23bn, thanks to geographic diversification, with the EU contributing 39%, the US 20%, the UK 15% and Latam 25%.
Ignacio Galán, executive chairman of Iberdrola, said: “In a very challenging environment, Iberdrola’s geographic diversification has again delivered stable growth.
“The impact of the energy crisis in the EU has been more than offset by strong performance in all other markets, mainly the US and Brazil.
“Iberdrola’s resilient business model has achieved these results while also improving our financial strength and liquidity, thanks to strong cash flow generation and our ongoing access to capital markets.”