During the Davos Forum, Iberdrola’s Executive Chairman, Ignacio Galán, advocated for energy storage to enhance renewable investment. He shared his perspective in the session “Tripling Renewables: Make It Rapid and Responsible” alongside European Commissioner for Energy, Kadri Simson, and US Special Presidential Envoy for Climate, John Kerry.
He said, “We need to invest in electricity distribution networks and in storage: not only short-term storage such as batteries, but long-term storage such as hydroelectric pumping, as well as promoting interconnections between countries.”
On the goal of tripling renewables, Galán said, “We already have the technology, financial resources and ambition to make it happen. But we need to move faster”.
He further emphasised the importance of involving local communities in promoting renewable installations. “I have 25 years of experience. I grew up in a village; I know countryside people, and big companies have to get involved with local communities”. He added that “agreements must be reached with local communities before starting anything.”
Lastly, Galan highlighted the importance of transmitting this idea to the population. Communities “have to see an opportunity not in electricity production but in creating a new economy around it,” he noted.
Finally, he highlighted the future of the electricity sector together with Artificial Intelligence. “We have to optimise our production, especially in the areas where it is most needed.”
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