Iberdrola to Develop Renewable Projects Around the Globe for Amazon
Amazon to buy 1.1 TWh offshore wind energy annually from Ibedola's Baltic farm
Spain-based power producer Iberdrola and e-commerce company Amazon have announced a collaboration to develop new wind and solar projects in Europe, the U.S., and Asia-Pacific.
As part of the agreement, Amazon will purchase 1.1 TWh of clean energy per year from Iberdrola’s Baltic Eagle and Wikinger offshore wind farms in Germany, which is enough to power more than 314,000 European homes annually.
The agreements will help Amazon stay on the path to power its operations with 100% renewable energy by 2025 – five years ahead of its original 2030 commitment.
Baltic Eagle is situated in the north of Rügen island in Germany. Upon its completion in 2024, the offshore wind farm will have a total capacity of 476 MW. Windanker, also located in the Baltic Sea, will have a full capacity of 300 MW and is expected to be completed in 2026.
Both projects are part of Iberdrola’s Baltic Hub, a cluster of offshore wind farms with a total capacity of 1,100 MW.
“The challenge of electrifying our energy system to increase our autonomy and reduce emissions requires partnerships between leaders like Iberdrola and Amazon. Today’s agreement combining sun, wind, and cloud will enable new renewable generation capacity worldwide and accelerate the energy sector’s digital revolution. AWS technologies will support our digital strategy to continue increasing the quality of supply and provide cleaner and fully interconnected energy services for our customers,” said Aitor Moso, Director of Iberdrola’s Retail Business.
Iberdrola and Amazon have announced a collaboration to work on various sustainability-focused projects, including applications that enable customers to control devices like EV chargers and solar panels autonomously. The collaboration also includes renewable energy production optimization and smart grid innovations using the internet of things and digital twins.
Iberdrola has an installed capacity of around 40 GW of renewable energy and manages 23,000 GWh of power purchase agreements worldwide across various sectors.
Recently, Iberdrola received a €150 million (~$160 million) green loan agreement from the European Investment Bank to develop a portfolio of renewable energy projects in Italy.
Iberdrola recorded a net profit of €4.3 billion (~$4.6 billion) in the calendar year 2022, an increase of 11.7% year-over-year.