Iberdrola has been awarded eight projects in the first European auction for the decarbonisation of industrial heat, driven by the European Commission’s “Innovation Fund”.
The European initiative aims to accelerate the process of replacing fossil fuels with renewable energy in energy-intensive industrial sectors.
The Spanish energy company’s projects are based on the direct electrification of heat using electric boilers and will require around 240 GWh of electricity per year from renewable sources.
The programme will enable a significant reduction in carbon dioxide emissions associated with energy-intensive industrial processes, thereby strengthening the competitiveness of the participating companies.
These proposals are applicable to various sectors, such as food, chemicals, manufacturing, mining and other industries, thereby reinforcing electrification as one of the most important foundations for industrial decarbonisation.
Iberdrola and its significant role in supporting industry
Iberdrola plays a vital role in supporting the industrial sector. Through its electrification plan, it provides solutions that reduce dependence on fossil fuels—which are currently highly subject to market volatility due to the ongoing energy crisis stemming from issues such as the war in Iran—and advance the sustainability and emissions reduction targets required by European Union regulations and the market itself.
Its proposals relating to the first Innovation Fund auction are highly significant within the energy transition process towards cleaner energy, moving away from the use of fossil fuels, in this case within the industrial sector.
The EU Innovation Fund auction comprises up to 65 projects and is managed by the European Climate, Infrastructure and Environment Executive Agency (CINEA).
It offers up to €400 million in funding, and Spain leads the call with 24 of the 65 awards. Eight of these are for Iberdrola; thus, the Spanish energy company has secured nearly €50 million in funding, representing approximately 35% of the total awarded in Spain and providing a significant boost to accelerate the electrification of industrial heating in the country.
The challenge at hand, which Iberdrola fully supports, is clear: in addition to reducing emissions, the aim is to create a cleaner and more energy-efficient industrial sector, which will result in greater competitiveness and resilience in the face of market fluctuations, particularly regarding fossil fuels.
Decarbonisation is the future, and this is the view taken by the European Union. Iberdrola is also on this path towards a cleaner and more environmentally friendly economy and industry.
The implementation of these Iberdrola projects includes long-term energy supply agreements (Power Purchase Agreements or PPAs) that will mobilise over 150 MW of renewable energy. These initiatives are in addition to two other PPAs signed by Iberdrola in Spain with companies in the metallurgical and data centre sectors, which together represent a further 90 MW of renewable energy.
Comprehensive solution
Iberdrola offers a comprehensive solution covering the design, construction and operation of the facilities, as well as the supply of the renewable energy needed to produce electrified heat, as the company itself has reported.
The aim is to achieve an efficient decarbonisation process whilst maintaining or increasing the industry’s competitiveness.
“This funding enables us to accelerate real, mature initiatives that improve our customers’ competitiveness, reduce their heating costs, lessen their exposure to the volatility of fossil fuels and advance decarbonisation targets,” explained Fernando Mateo, head of industrial decarbonisation at Iberdrola. “The direct electrification of industrial heat is one of the most effective levers for cutting emissions in the short term, and the European auction demonstrates that there is a solid portfolio of viable projects ready to be rolled out from now on,” he said.
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