The assembly occurred in Switzerland, on the World Forum in Davos. Iberdrola was represented by Agustín Delgado, the corporate’s director of Innovation and Sustainability. Discussed the evolution of the primary parameters of the Spanish economic system
The President of the Government, Pedro Sánchez, has held a casual assembly with heavyweights from the Ibex 35 and different strategic firms inside the framework of the Davos World Forum, which is being held this week within the Swiss city of the identical identify, from which he has been absent the president of Iberdrola, Ignacio Sánchez Galán.
Iberdrola sources have justified Galán’s absence as a result of precedence he gave this Tuesday to the settlement signed with the Norwegian sovereign wealth fund Norges Bank. Its high govt, Nicolai Tangen, can be current in Davos and has signed what Iberdrola has described as “a strategic alliance”.
Within the framework of this settlement, each firms will co-invest in 1,265 MW of recent renewable capability in Spain (20% wind and 80% photovoltaic). Previously, the Norwegian sovereign wealth fund will disburse round 600 million euros for its 49% stake in a portfolio of renewable belongings in Spain for which Iberdrola was in search of a accomplice, which values 100% of stated portfolio at round 1,225 million euros.
Iberdrola can have a 51% majority curiosity within the belongings, which it can additionally management and handle, offering operation and upkeep companies and different company companies.
Although Sánchez Galán was initially scheduled to attend the assembly between the Spanish managers and Sánchez, in the long run Iberdrola was represented by Agustín Delgado, the corporate’s director of Innovation and Sustainability.
In addition to Delgado, the Spanish enterprise leaders who attended the assembly with Sánchez have been Ana Botín, president of Banco Santander; José María Álvarez-Pallete, Chairman and CEO of Telefónica; Carlos Torres, president of BBVA; Josu Jon Imaz, CEO of Repsol; Francisco Reynés, Chairman and CEO of Naturgy, Rafael del Pino, Executive Chairman of Ferrovial and Maarten Wetselaar, CEO of Cepsa.
In the casual assembly, the managers had the chance to change opinions with Pedro Sánchez on the evolution of the primary parameters of the Spanish economic system and the speed of disbursement of the Next Generation funds, along with commenting on some present points, such because the Law on Inflation discount accredited in August within the United States, highlighting the necessity to attain an settlement, or the necessity for regulatory and financial stability to spice up funding, in keeping with sources acquainted with the assembly.