The Spanish energy group Iberdrola has raised €5bn (US$5.9bn) through a capital increase to support a significant boost in power grid investments in the United Kingdom and the United States. The company plans to increase its annual investments from approximately €12bn to around €15bn, reinforcing its strategic focus on upgrading and expanding electricity networks in markets with stable and attractive returns, particularly the United States and the United Kingdom.
Over the next six years, Iberdrola intends to invest around €55bn in power grids (+75%), mainly in the UK and the US. The company highlighted that regulatory frameworks for transmission and distribution in the UK and US provide a highly favourable environment for investment. By 2031, 75% of the network asset base will be from the United States and the United Kingdom, due to the new tariff frameworks in New York and Maine, and due to the UK’s new regulatory framework for electricity transmission (RIIO-T3) and framework for distribution (ED2 and the future ED3).