Image credit: Iberdrola
Spanish energy giant Iberdrola has announced its intention to invest €58 billion ($68 billion) through to 2028 to drive growth in UK and US power networks.
The announcement was made at the company’s Capital Markets Day, which provided more information about the 2025-2028 Strategic Plan and investment focus.
According to a company statement, the Group is focusing investment in countries with stable policy and regulatory frameworks to drive “greater stability, predictability, profitability and security”.
Ignacio Galán, Iberdrola’s Executive Chairman, said: “This plan aims to transform Iberdrola’s profile into a more regulated company, with networks as a vector for growth.
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“We will invest €58 billion by 2028, two-thirds of which will go to transmission and distribution networks, mainly in the United Kingdom and the United States.
“We expect to achieve a net profit of €7.6 billion in 2028, with around €20 billion allocated to dividends between 2024 and 2028.”
In terms of regional breakdown, the UK will receive the lion’s share of investment, €20 billion ($24 billion), with the US receiving €16 billion ($19 billion), Iberia €9 billion ($11 billion), Brazil €7 billion ($8 billion) and Australia and other EU countries €5 billion ($5.8 billion).
Besides investing in grids, Iberdrola plans to allocate €21 billion ($25 billion) for its generation and customers portfolio, with the majority (75%) of that tied to projects already under construction. This portfolio will include investment allocations of 38% to offshore wind, 24% to onshore wind, 10% to solar PV, and 10% to storage.
Iberdrola is planning to invest €45 billion ($53 billion) between 2029 and 2031, with €30 billion ($35 billion) investment planned in networks (two-thirds in distribution and one-third in transmission) to achieve an asset base of over €90 billion ($106 billion) by 2031.
Originally published on powerengineeringint.com
