Iberdrola Turns "Very Conservative" On Power Generation - CEO
Sept 24 (Reuters) - Iberdrola's IBE.MC Chief Executive Pedro Azagra says:
WE ARE TAKING A VERY CONSERVATIVE APPROACH IN POWER GENERATION
IN THE U.S., WE ARE ONLY CONSIDERING THE COMMISSION OF POWER PROJECTS UNDER CONSTRUCTION
IN BRAZIL, WE ARE CONSIDERING NO CAPACITY ADDITIONS IN THE SHORT TERM
IN SPAIN, WE'RE ASSUMING THE NUCLEAR PHASE-OUT IS SCHEDULED IN LINE WITH THE CURRENT PLAN
WE WILL ALSO ADD 2 GW OF BATTERIES OVER THE PERIOD
WE WILL ONLY BID FOR OFFSHORE PROJECTS OFFERING ADEQUATE RETURNS, SECURED SUPPLY CHAINS, ROUTE TO MARKETS
80% OF OUR STRATEGIC EQUIPMENT NEEDS THROUGH 2028 IS ALREADY SECURED
95% OF OUR PURCHASES ARE LOCAL, WHICH PROTECTS US FROM TARIFF IMPACTS AND SUPPLY CHAIN DISRUPTIONS
SPAIN'S GRID INVESTMENTS ARE CONTINGENT ON A REGULATORY FRAMEWORK THAT ENSURES SUFFICIENT RETURNS
Source text: [ID:]
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