Major Spanish utility Iberdrola is to replace its two remaining coal-fired power plants with renewable facilities.
An application for the “orderly phase out” of the firm’s Lada and Velilla plants was made in 2017, with the Spanish government expected to announce its ruling next year.
In a statement Monday, Iberdrola said it intended to replace the coal-fired plants, which have a combined capacity of 874 megawatts (MW), with 500 MW of wind and solar.
Speaking to CNBC’s “Squawk Box Europe” on Monday, Iberdrola CEO and Chairman Ignacio Galan said there were technologies which allowed electricity generated with fossil fuels to be generated with renewables.
Galan was speaking to CNBC on the first…