- Business
- Iberdrola, S.A. (IBE1.DE) is a Spanish multinational electric utility and a global leader in renewable energy generation and electricity distribution, with a total installed capacity exceeding 62,000 MW, of which over 41,000 MW derives from renewables including onshore and offshore wind, solar photovoltaic, hydroelectric, and green hydrogen projects; it also operates extensive smart grids with 1.2 million kilometers of lines, natural gas activities, and services such as energy storage, electric mobility solutions including fast-charging networks, heat pumps, and self-consumption systems. Founded in 1992 through the merger of Hidroeléctrica Española and Iberduero—tracing origins to 1901—and headquartered in Bilbao, Spain, the company serves approximately 30 million customers across key markets in Spain, the United Kingdom, the United States, Brazil, Portugal, Mexico, Germany, France, Australia, and other regions through subsidiaries like ScottishPower, Avangrid, and Neoenergia. Its diversified operations span regulated networks, liberalized generation and retail electricity/natural gas supply, and emerging areas like large-scale data centers via the new CPD4Green subsidiary.
Iberdrola's core renewable portfolio features leading onshore wind capacity over 20,000 MW globally, offshore wind projects such as the 2,900 MW East Anglia Hub in the UK and operational farms like Saint-Brieuc in France and Vineyard Wind I in the US; solar installations exceeding 4,500 MW including the 590 MWp Francisco Pizarro and 500 MWp Núñez de Balboa plants in Spain; hydroelectric assets surpassing 14,000 MW such as the 1,158 MW Tâmega complex in Portugal and Baixo Iguaçu in Brazil; and green hydrogen facilities like the Puertollano plant in Spain, Europe's largest for industrial use with 20 MW electrolysis capacity. In networks, it manages major distribution and transmission assets, including recent expansions in the UK and US, while customer solutions encompass smart metering, EV charging via the bp pulse joint venture targeting 11,700 points in Iberia by 2030, and digital transformation initiatives. The company maintains a strong focus on A-rated jurisdictions, with 85% of its €58 billion 2025-2028 Strategic Plan allocated to the US (€16 billion), UK (€20 billion), Iberia (€9 billion), and Brazil (€7 billion), prioritizing networks to double regulated assets to €90 billion.
Recent developments include the 2025 acquisition of an 88% stake in UK distributor Electricity North West (ENW) for €5 billion, solidifying the UK as its largest networks market at €14 billion in assets; the takeover of PREVI's stakes in Brazilian subsidiary Neoenergia, reaching 84% ownership for €1.92 billion in October and launching a tender for the remaining 16.2% for €1.03 billion in November to achieve full control; completion of the Avangrid merger in December 2024 for full US subsidiary ownership; sale of Mexico businesses for $4.2 billion in July 2025 and the UK smart meter unit to Macquarie for over €1 billion in September 2025 to fund organic growth; strengthened alliances such as adding 708 MW renewables with Norges Bank in Iberia for a €1.2 billion portfolio in September 2025, co-investments with Kansai in the 315 MW Windanker offshore project closed April 2025, and ongoing Masdar partnerships for offshore wind; and divestments like Baixo Iguaçu hydro to EDF/STOA in February 2025. These transactions underscore Iberdrola's asset rotation strategy, partnerships with sovereign funds and utilities, and commitment to electrification amid a market cap nearing €120 billion.