November 13 (Renewables Now) - Iberdrola (BME:IBE) said Friday it has decided to complete the phase out of its coal generation capacity and accordingly asked for permission to decommission two plants totalling 874 MW in Spain.
The Spanish utility has submitted a permit application to Spain's energy ministry to shut down the coal-fired power stations in Lada, Asturias and Velilla, Palencia. The roughly 170 employees at the plants will either be relocated to other facilities or engaged in the decommissioning process. The latter will take four years after consent from the ministry and will require an investment of EUR 35 million (USD 40.8m).
Iberdrola said the move advances its target of reducing its carbon dioxide (CO2) emissions intensity by 50% in 2030 from 2007 levels and becoming carbon neutral in 2050. The company boasts a renewable generation fleet of 28,778 MW, which includes 15,902 MW of onshore and offshore wind, and 12,756 MW of hydropower. This is out of its total installed capacity of 48,062 MW.
The closure of the two coal-fired plants will add to 7,500 MW of thermal power capacity the company has phased out since 2001.
Iberdrola is one of six European utilities that recently urged European policy makers in a letter to adopt a 35% renewable energy target by 2030, higher than the proposed objective of 27%.
(EUR 1 = USD 1.166)