Ethics, transparency and good governance
Governance and Sustainability System
Board of Directors
Iberdrola's Group Structure
As part of its strategy to expand its business and strengthen its presence as an energy leader in European countries, the Iberdrola group set up its subsidiary in Portugal in 2004. The step taken by the company, with the inauguration of its headquarters in Lisbon, was aimed at developing its activities in the then emerging Portuguese market.
One of its first major moves under the name Iberdrola Portugal was its entry into the Portuguese wind energy market with the signing of an agreement with Gamesa to operate the Catefica wind farm (18 MW), close to the country's capital. In that same year, the group acquired 250 MW of installed wind farm capacity, making definitive progress in its positioning as the leading renewable energy company on the Iberian Peninsula.
In July 2022, the company inaugurated one of its most emblematic projects in the country: the Tâmega Gigabattery. This is a huge hydroelectric storage project involving three power plants (Gouvães, Daivões and Alto Tâmega) built on the Tâmega river, a tributary of the Douro located in the north of Portugal, near Oporto. The three facilities will have an installed capacity of 1,158 MW, enough to store the energy consumed by 11 million people during 24 hours in their homes.
The Gouvães reservoir, which together with Daivões and Alto Tâmega comprises the complex on the river Tâmega.
In addition, many areas of the neighbouring country offer the right conditions to continue to invest in renewable energies, and solar photovoltaics is a perfect example of this. In August 2019, the company entered the country's photovoltaic market with the award of 172 MW of solar capacity in the Algarve and Tagus Valley regions. On that occasion, Iberdrola ended up being the largest bidder in terms of number of lots, with a total of seven PV projects.
In addition, during 2022, numerous renewable facilities have been commissioned, such as the Algeruz II photovoltaic plant, the Iberdrola group's first facility of this type in Portugal, and the Conde photovoltaic plant. The rest of the projects are under construction or in the process of obtaining the construction licence, with commercial operation expected in 2022 and 2023.
The Algeruz II photovoltaic plant, the first of its kind to be commissioned in Portugal.
In terms of wind power production, the group's subsidiary in Portugal has three operational facilities: Catefica (18 MW), Alto do Monção (32 MW) and Serra do Alvão (42 MW). The three wind farms generate 200 GWh per year.
In addition, the company plans to build a large 400 MW wind farm, which will be connected to the Tâmega gigabattery, and which will turn the complex into a hybrid generation plant. This will use the energy produced by wind power during periods of peak demand, while conserving surplus generators to feed the pumping system, so that the electricity supply to users is always guaranteed.
Thanks to our knowledge and experience in the electricity supply sector, we maintain a solid commercial relationship in Portugal for the sale of energy, gas, smart solutions and payment protection through our subsidiary in the country, Iberdrola Renewables Portugal. With more than 870,000 supply points, the company's customers can enjoy special services for both their homes and their premises, in addition to plans for individuals related to electric mobility and solar energy.