Galán argues in Davos that critical action and a stable frame for renewable powers are urgently demanded

He stressed that investors need strong signals to direct their capital to the most favourable surroundings • Ignacio Galán has stressed that simpler executive procedures are demanded for clean energy projectsThe Chairman of Iberdrola, Ignacio Galán, shared this autumn in the panel Shaping the Integrated Energy Future, which took place within the frame of the periodic meeting of the World Economic Forum in Davos,Switzerland.Galán defended the need for critical action and a stable frame for renewable powers. A regular at this periodic event in the small Swiss city for further than 15 times, the president claimed that the energy transition must be accelerated urgently, because” measures that decelerate down the transition to clean energy will have veritably significant costs”. In countries like Spain they could be original to nearly 8 ofGDP.ENERGY TRANSITION IS THE REAL SOLUTIONGalán explained that the answer to this energy situation is the transition to an galvanized frugality with green powers, which means a massive development of renewable powers, lesser investment in smart grids, an increase in storehouse and an acceleration of the development of green hydrogen in energy uses that are delicate to exhilarate.” The transition won’t only reduce external dependence on fossil energies and energy costs, but will also contribute to perfecting energy security, as sources will be original and horizonless, will have environmental benefits and will contribute to artificial and employment development,” he said. For this reason, he persisted that transition is ineluctable, but” not yet presto enough. We need to accelerate the change, which requires strong political will”. The chairman recalled that investments in clean energy have long vengeance ages and investors need strong signals to direct their capital to the most favourable surroundings.” We’ve the technology, the support of society and, as companies, we’re ready to play our part, investing and committing all our mortal and technological coffers, but we need clarity, rule of law and seductive regulation,” he said. In addition, Ignacio Galán refocused out that simpler executive procedures are demanded for clean energy systems, considering them to be systems of public interest. IBERDROLA, AN Illustration OF VALUE GENERATIONGalán believes that Iberdrola’s track record over the last 20 times confirms that its commitment to the fight against climate change not only benefits the terrain but also its shareholders and society in general. In the last 20 times, Iberdrola has grown sixfold in size, getting the leading company on the Spanish stock exchange, with a capitalisation of close to 70 billion euros, the largest electricity company in Europe and one of the four largest in the world. As a result of this growth, Iberdrola supports supplier jobs worldwide, has workers and contributes further than 30 billion euros to countries’ GDP.