Iberdrola's global renewables output down 4.9% in Q1 2022

Spanish utility Iberdrola SA (BME:IBE) generated 21,689 GWh of electricity from its renewables worldwide in the first quarter of 2022, which represented a 4.9% reduction in total green power output compared to January-March 2021.

According to Iberdrola’s preliminary figures for the quarter, the home market of Spain was the only one with lower production levels in year-on-year terms.

The renewables power output in Spain dropped by 38.5% on the year to 6,260 GWh due to a production decline from onshore wind farms and small and large hydroelectric plants during this year's first quarter. Iberdrola’s hydro reservoir levels in Spain were at 36.4% at the end of March.

At the same time, the utility's solar farms at home were able to produce 382 GWh, up by 117.6% year-on-year.

Renewables performed better in all other Iberdrola’s markets -- the UK (+20.6%), the US (+7.8%), Mexico (+6.1%), Brazil (+49.4%) and the Iberdrola Energia Internacional markets, formerly the Rest of the World (+13.9%).

Between March 2022 and March 2021, Iberdrola increased its global installed renewable energy capacity by 9.1% to 38.305 MW.

Selected figures from Iberdrola’s preliminary electricity report are presented in the table below:

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