The Spanish energy group Iberdrola has unveiled plans to increase by 30% its investments to €58bn to increase its networks in the United States and the United Kingdom by 2028. More than 70% of the total investment will be allocated to grow its transmission and distribution networks, with the UK and the US expected to receive about 65% (€20bn and €16bn, respectively), followed by investments in the Iberian Peninsula (€9bn), Brazil (€7bn), and other EU countries and Australia (€5bn).
The largest share will be invested in networks (€37bn) to raise Iberdrola's Regulated Asset Base up to €70bn, including €25bn in distribution and €12bn in transmission (95% of which in the UK and the US). About €21bn are expected to be dedicated to renewables, with 38% being destined to the development of offshore wind, 24% of onshore wind, 10% to solar PV and 10% to storage.
Over the 2029-2031 period, Iberdrola aims to invest more than €45bn, including €30bn in networks (2/3 in distribution and 1/3 in transmission) to achieve an asset base of over €90bn by 2031.