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1.5°C Business Leadership

Solutions, strategies, and mindsets for our only future.


Iberdrola is moving forward with Europe’s largest solar photovoltaic plant as a massive step in the company’s clean energy strategy. 

Iberdrola has initiated the development of Francisco Pizarro, Europe’s largest photovoltaic plant, in Extremadura of Spain. Occupying a 1,300 hectare site, the Francisco Pizarro plant will have a capacity of 590MW when the plant comes into operation in 2022. It will provide clean energy to 375,000 people, while reducing an estimated 245,000 tonnes of CO2 annually. During its construction, the project will employ 1,000 people, contributing to Iberdrola’s commitment to ensure a just transition where shifting to a low-carbon economy creates green and decent jobs.

The Francisco Pizarro project has an investment of more than 300 million EUR and is a central part of Iberdrola’s 34 billion EUR projected investment for the period 2018–2022. This plan allocates almost 40% of this investment to renewable energy deployment and 47% to networks, setting solid foundations for sustainable growth in the next decade, fully aligned with the most ambitious climate scenarios.

Iberdrola has set an internal price on carbon and is calling on governments to deliver more robust climate policy frameworks to drive investments in a low-carbon economy. The company is also part of the Caring for Climate and CEO Water Mandate initiatives.

Iberdrola’s 1.5°C commitment

Iberdrola was one of the first companies to commit to more ambitious science-based emission reduction targets aligned with 1.5°C of global warming. These targets have also been validated by the SBTi.