Countries with better regulatory frameworks will receive more investments, says Ignacio Galán

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The president of Iberdrola, Ignacio Galán, has made it clear this noon that, in the new global scenario that is opening up after the pandemic, the competition to attract resources will be very intense and that we must be prepared to face it.

“All countries are realizing that decarbonizing the economy is not only an opportunity to improve people’s health but also to increase competitiveness and reduce energy dependency,” he said during his virtual participation in the ministerial round table. on the mobilization of resources to guarantee safe and sustainable electrical systems, organized by the International Energy Agency (IEA).

For this reason, “there will be increasing competition to attract the necessary technological and financial resources” in order to complete this decarbonisation. Thus, “those countries that have the most stable, predictable and attractive regulatory frameworks will be those that receive large volumes of investment, which will generate hundreds of thousands of jobs.”

As the president of Iberdrola has explained at the IEA round table, in which government representatives and energy ministers from countries such as the United States, the United Kingdom, Brazil, China and Japan have participated, as well as senior officials from leading companies in the sector global energy company, “if we want our societies to benefit from the decarbonisation process of the economy, we must invest decisively in electrification”.

After highlighting the key role played by the electricity sector during the pandemic, the President of Iberdrola has stated that the time has come to focus on recovery and transform a crisis situation into an opportunity: «An opportunity to promote a new energy model more sustainable and competitive and to create quality jobs throughout the value chain of the same “, defended Galán.

Iberdrola considers that the electricity sector is in the best position to lead this process, without putting a burden on public coffers, given that it has the necessary technology and knowledge.

The group has already announced that it is prepared to accelerate its investments, which will mean greater growth, more jobs and greater value creation for all its stakeholders: shareholders, suppliers, employees and society in general.

The company highlights that it plans to invest a record figure this year, 10,000 million euros – double the average of the last five years – in renewable energy, smart grids and efficient storage, as well as hiring 5,000 professionals and supporting their projects. , the 400,000 jobs that depend on its around 20,000 suppliers worldwide. .

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