Iberdrola — BrandWiki

Iberdrola

key people	Ignacio Galán (Chairman) Pedro Azagra (CEO) José Sainz Armada (CFO)

industry	Electric utility

products	Electricity generation and distribution, renewable energy, natural gas production, sale and distribution, telecommunications

revenue	€44.739 billion (2024)‡R1R‡

operating income	€9.729 billion (2024)‡R1R‡

net income	€5.612 billion (2024)‡R1R‡

assets	€158 billion (2024)‡R1R‡

num employees	42,200 (2024)‡R1R‡

subsid	Elektro Holding Avangrid ScottishPower

homepage	iberdrola.com

Iberdrola, S.A. is a Spanish multinational electric utility company based in Bilbao, Spain. It has around 40,000 employees and serves around 30 million customers.[2][3]

Subsidiaries include ScottishPower (United Kingdom), Avangrid (United States) and Neoenergia (Brazil), amongst others.[4] As of 2023, the largest shareholder of the company is the Qatar Investment Authority, with BlackRock and Norges Bank (managers of the Norwegian Government Pension Fund Global) also holding significant interests.[5]

Iberdrola is the largest producer of wind power, and the world's second largest electricity utility by market capitalisation.[6][7] As of 2023, the company operates a capacity of 62,045 MW, of which 41,246 MW are from renewable sources worldwide.[8][9]

History

Pre-WWII

Iberdrola was created on November 1, 1992, from the merger between Hidroeléctrica Española and Iberduero.[10][11] Hidroeléctrica Española, also known as Hidrola, had started in 1907, while Iberduero arose from the merger between Hidroeléctrica Ibérica and Saltos del Duero in 1944.

The origin of Iberdrola lies in the Spanish industrialisation in the early 20th century. In 1840, American entrepreneurs founded the Hartford City Light Company, which lead to the incorporation of Energy East on the eastern seaboard of the US, which would much later become Iberdrola USA. Meanwhile, in Bilbao in 1901, Hidroeléctrica Ibérica was established by the engineer Juan de Urrutia. In 1907, Hidroeléctrica Ibérica shareholders created Hidroeléctrica Española to supply Madrid and Valencia. A decade later, Saltos del Duero was founded, opening the country's first hydroelectric facility in 1935, the Ricobayo power plant.

World War I forced the industry to seek new sources of energy and to install large distribution networks.

Acquisitions

In 2006, Iberdrola acquired ScottishPower, leading to the integration of this company in April 2007. This gave rise to Europe's third-largest utility.

In 2008, Iberdrola continued its expansion with the acquisition of the US-based company Energy East, further solidifying its global presence.

In 2010 Iberdrola sold their ownership of GESA, majority share owner of EEGSA (Empresa Electrica de Guatemala) to Grupo EPM.[74]

In 2011, the company expanded its operations into Brazil by acquiring the company Elektro, a strategic move to tap into the Brazilian market.

In 2015, Iberdrola acquired the US company United Illuminating for a total of 3 billion euros. This acquisition bolstered Iberdrola's presence in the American market.[75] Also in 2015, Iberdrola established Avangrid through the integration of Iberdrola USA and UIL Holdings Corporation. This move led to the commencement of trading on the New York Stock Exchange, strengthening Iberdrola's position in the United States.[76]

Chairmen

Hidrola
José Luis de Oriol y Urigüen (1910–1911) (1936–1941)
José María de Oriol y Urquijo (1941–1960)
Íñigo de Oriol e Ybarra (1960–1992)

Iberduero
Pedro de Careaga y Baseabe, 2nd Count of Cadagua (?–1977)
Pedro de Areitio (1977–1981)
Manuel Gómez de Pablos (?–1992)

Iberdrola
Iñigo de Oriol e Ybarra (1992–2005)
Jose Ignacio Sanchez Galan (2005 to present)

Lines of business

Renewable energy

In 2023, the company has 41,250 MW of operational renewables and 7,100 MW under construction.[88][25]

The Renewables area of the Iberdrola group is responsible for the generation and sale of electrical energy from renewable sources: wind (onshore and offshore), solar, hydroelectric, green hydrogen, etc.[89][7]

At the end of 2022, Iberdrola Group had 60,761 MW of total installed capacity, of which 40,066 MW is renewable. In 2023, the company reached a capacity of 62,045 MW and 41,246 MW respectively, increasing the renewables by 6.5% worldwide.[9]

Main subsidiaries

Iberdrola España, S.A.U.

Iberdrola España, S.A.U. is Iberdrola group's subholding company in Spain, which operates through its subsidiaries: Iberdrola Energía Sostenible España, S.A.U., i-DE Redes Eléctricas Inteligentes, S.A.U. and Iberdrola Energía España, S.A.U. Iberdrola España, S.A.U. was founded in 1989 and is headquartered in Bilbao, Spain. The subsidiary operates in Spain and carries out the deregulated activities of electricity generation electric power, and natural gas retailing.[179]

ScottishPower

ScottishPower was formed in 1990, in preparation for the privatisation of the previously state-owned Scottish electricity industry the following year.[180] The company is the distribution network operator for Central and Southern Scotland, Merseyside, North Wales, and parts of Cheshire and Shropshire. It is also the transmission owner for the south of Scotland. The UK's 4th largest energy provider,[181]

Assets in Spain

Iberdrola's total installed capacity in Spain is 29,816 MW as of 2023, of which 20,598 MW are from renewables, 3,186 MW from nuclear, 5,695 MW CCGT and 347 MW cogeneration.

Renewables

Onshore wind

Iberdrola has around 190 onshore wind facilities with a 6,446 MW of installed capacity in more than 30 locations across Spain.

The company's major onshore wind energy project in Spain is El Escudo wind farm, 105 MW onshore wind farm able to supply clean energy to 95,350 homes.[193]

Hydroelectric

Iberdrola also owns hydroelectric plants with a total installed capacity of 10,700 MW, especially in the Duero river basin (provided by Iberduero) and the Tajo and Segura river basins. (provided by Hidroeléctrica Española). The company has 86 facilities in 16 locations across Spain.

In 2013 construction was finished on the 848 MW La Muela plant

Assets worldwide

Iberdrola has various power plants worldwide, with a considerable focus on renewable energies, especially wind and hydroelectric power. There are the most notable power plants and renewable installations:

Wikinger Offshore Wind Farm (Germany): located in the Baltic Sea. With 70 wind turbines, it can produce up to 350 MW.[203][204]
Whitelee Wind Farm (Scotland): the largest onshore wind farm in the UK, Whitelee has a capacity of 539 MW.[205]
East Anglia One Offshore Wind Farm (UK): located off the coast of Suffolk, this is one of the world's largest wind farms, with a total capacity of approximately 714 MW.
Tâmega Complex (Portugal): this major hydroelectric project consists of three plants and will have a total installed capacity of over 1,158 MW upon completion.
Rocha Candeias Hydro Plant (Brazil): an essential hydroelectric plant in Iberdrola's South American portfolio.

Renewable energy

Headquartered in Valencia (Paseo de la Alameda), the Iberdrola Renovables subsidiary had been listed on the stock exchange from December 2007 until July 2011, when Iberdrola decided to re-acquire the minority shares and integrate it into the parent company.[208][209]

In Q1 2023, Iberdrola reported having operating installed capacity of 62,045MW of which 41,246 MW is renewable.[210] Its clean energy capacity increased by 5.7% compared to 2022.[9][8]

Iberdrola increased its investments in renewables with 8% and has 7,100 MW of renewable energy under construction. It plans to build 52,000 MW until 2025.[9]

Public activities

In 2006 Iberdrola founded the Corporate Volunteering Program, a global initiative aimed at supporting Iberdrola's employees in their participation in social projects in integrating members of vulnerable groups into society, improving the environment and sustainable development.[217]

In 2022, more than 16,800 volunteers participated in the Corporate Volunteering Programme delivering help to more than half a million people. Some of its projects include: Protagonists of their Future (aimed at women victims of gender-based violence and at risk of social exclusion),[218] SUMA (aimed at the return of women to work after a break in their professional career), INVOLVE (International Volunteering Vacation for Education, within which Iberdrola employees help vulnerable teenagers to improve their employability through computer science and web applications),[219] Lights... and Action! (a project carried out since 2011 with the Tomillo Foundation aimed at improving the training and employability of young people who study basic vocational training for teenagers with experiences of school failure), The Job Ambassadors Programme (volunteers have participated in the training of people from the Multiple Sclerosis Foundation (EMF) who are seeking employment), Environmental Volunteering (Forest Restoration on International Forest Day, with 1,100 trees planted through various initiatives in which people with intellectual and school disabilities have also participated),[220]

Sports sponsorships

Iberdrola serves as an Equality Partner for the Spanish Olympic Committee and supports both the Olympic and Paralympic. The company supports Spanish sports for more than two decades through global agreements with the Spanish Higher Sports Council (Consejo Superior de Deportes – CSD) and the Spanish Olympic and Paralympic Committees (COE and CPE), as well as with various sports federations. The company has been a sponsor of the Spanish Paralympic Team since its inception in 2005, contributing to the Paralympic Objective Sport Support (ADOP) plan. The ADOP plan comprises a Scholarship Programme aimed at granting athletes financial assistance alongside a Services Program encompassing a comprehensive training support system with access to advanced training facilities, medical care, and more.[225]

The company promotes 32 National Federations (including the National Federations of Athletics, Badminton, Handball, Boxing, Ice Sports, Fencing, Football, Gymnastics, Hockey, Karate, Canoeing, Rugby, Surfing, Table Tennis, Triathlon and Volleyball, to which in 2018 were added Underwater Activities, Bowling, Winter Sports, Weightlifting, Judo, Olympic Wrestling, Mountaineering and Climbing, Swimming, Skating, Ball, Rowing, Squash, Taekwondo, Tennis, Archery and Sailing), and has more than 100 competitions with the naming right Iberdrola, including 32 leagues.[226][227][228]

External links

Press articles

References

Iberdrola Fact Sheet - Iberdrola Iberdrola, retrieved 2025-09-29^
Results Presentation: Nine months 2023-10-26, retrieved 2023-11-04^
Iberdrola SA - Company Profile and News Bloomberg.com, retrieved 2023-11-02^

Post-WWII

In 1944 Hidroeléctrica Ibérica and Saltos del Duero merged to form Iberduero.

In 1955, the South of Scotland Electricity Board (SSEB) came into being, paving the way for the creation of ScottishPower four decades later, in 1990. Two years after that, Hidroeléctrica Española and Iberduero merged to form Iberdrola. In the latter part of the 20th century, Iberdrola began expanding into Latin America, mainly Mexico and Brazil.

With ScottishPower and Iberdrola formed in Europe, in 1998 Energy East Corporation came into being in the US following New York State Electric & Gas's acquisition of Central Maine Power, Southern Connecticut Gas Company, Connecticut Natural Gas Company, Berkshire Gas Company and RGS Energy Group (the parent of Rochester Gas & Electric). Following the arrival of Jose Ignacio Sanchez Galan in 2001 Iberdrola began focusing on renewable energy. In 2007, the company continued its international expansion, increasing its presence in the UK and the US via the integration of ScottishPower[13] and Energy East.[14] As a culmination of his commitment to renewable energy, Jose Ignacio Sanchez Galan has received the ESG Leadership Award from The Foreign Policy Association in New York, which recognizes leaders most committed to ESG principles.[15]

By 2011, Iberdrola had moved into the Brazilian market with the acquisition of Elektro.[16]

In 2015, the company made another significant move in the U.S. by acquiring United Illuminating (UIL),[17] a publicly traded company, for 2,647 million euros. That same year, following the integration of Iberdrola USA and UIL Holdings Corporation, Avangrid was established and began trading on the New York Stock Exchange.

In 2020 multiple acquisitions by Iberdrola were made. The company acquired Infigen Energy[18] in Australia and subsequently renamed it Iberdrola Australia. In France, the company acquired Aalto Power,[19] a renewable energy company with a focus on wind energy projects. In the U.S., Iberdrola made a move to purchase PNM Resources,[20] an electricity provider for Texas and New Mexico, with the acquisition process subject to approval from the New Mexico Regulatory Commission. Additional 2020 acquisitions included CEB-D distributor in Brazil and Acacias Renewables in Japan.[21]

In 2021, Iberdrola ventured into the Taiwanese market by acquiring offshore wind projects.[22] By 2023, the company diversified its portfolio by selling assets from non-renewable sources in Mexico to Mexico Infrastructure Partners (MIP).

Since 2001, the company has been committed to renewable energies and since 2006 it has continued its international expansion, increasing its presence in the United Kingdom, the United States and Brazil.

In 2014, the 850 MW La Muela II pumped-storage hydroelectric power plant began operating, which, together with La Muela I, is the largest complex of its kind in Europe with almost 1,500 MW. The same year Iberdrola's first offshore wind farm in the Irish Sea (United Kingdom), West of Duddon Sands with 389 MW of power was launched, as well as Maine high voltage transmission line connecting the United States and Canada was installed.

In 2015, the company committed to reduce CO2 emissions by 50% by 2030 and at the end of 2017 announced its intention to close all of its coal-fired power plants worldwide.[23] Iberdrola announced an investment to a total of €47 billion, of which €17 billion in renewables to increase renewable capacity by 12,100 MW to 52,000 MW in 2025 (6,300 MW of photovoltaic, 3,100 MW of onshore wind, 1,800 MW of offshore, 700 MW of batteries and 200 MW of hydro).[24][25][26]

Iberdrola started sponsoring Women's Soccer League in Spain, which adopted its name (Primera Iberdrola), and collaborated with the Consejo Superior de Deportes (The National Sports Council) in the Universo Mujer program in 2016.[27][28] The same year it launched Calangos complex in Brazil, the largest wind power facility in South America.[29]

In 2019, it launched the call for its 2020 Social Program to support vulnerable groups, with a budget of more than one million euros.[30] The company also inaugurated the Baixo Iguaçu hydroelectric plant, supplying clean energy to one million Brazilians.[31] East Anglia ONE offshore wind farm started generating clean electrical energy. Iberdrola launched i-DE, the new brand of its electricity distribution activity in Spain, which manages 270,000 km of digitalised power lines.

That year Iberdrola entered the ranking of the 100 most sustainable companies in the world, according to the latest classification carried out by Corporate Knights.[32] The European Commission classified Iberdrola as the most innovative Spanish utility and third of Europe.[33][34] Iberdrola's direct tax contribution worldwide amounted to 8,156 million euros in 2019, 217 million more than in 2018. In 2024, Iberdrola became the first business head-quartered in Spain to secure Fair Tax Mark certification.[35]

In 2020, the company's investments of 8,158 million euros raised Iberdrola's net profit to 3,406 million euros in 2019. That year, the largest photovoltaic plant in Europe was commissioned—the Núñez de Balboa plant (500 MW) in Badajoz.[36][37] Iberdrola located its global smart grid innovation center in Spain. In Australia, construction was started on Port Augusta, its first wind-solar hybrid plant in the world.[38][39] In the United States, the purchase operation of PNM Resources, the electricity company of New Mexico and Texas, was pending permission from the Regulatory Commission.[40] Also in 2020 (and 2021), the company was listed among the 10 best companies in the world in terms of integration of women, according to the World's Top Female Friendly Companies 2021 study,[41] as well as in the Dow Jones Sustainability Index (being the only European utility company to be named in 22 editions of the index).[42]

In 2021, Iberdrola announced, through its British subholding ScottishPower, the investment of an additional 6 billion pounds (7,090 million euros) in the construction of the East Anglia Hub offshore wind farm (North Sea – United Kingdom).[43] This offshore wind macro complex is bringing together three projects with a total installed capacity of 2,900 MW: East Anglia ONE North, East Anglia TWO and East Anglia THREE. The works, involving an investment of 10 billion pounds, began in 2022 and planned to last four years.[44]

In 2022, the company inaugurated the Puertollano green hydrogen plant (Puertollano – Ciudad Real), able to produce up to 3,000 tonnes of renewable hydrogen per year and supply clean hydrogen to the Fertiberia Group factory in town, allowing to reduce the consumption of natural gas.[45] The total investment in the Puertollano plant is 150 million euros. It includes both green hydrogen facilities and a dedicated photovoltaic plant. It is able to reach up to 3,000 tons of green hydrogen per year and avoid the emission of 78,000 tons of CO2 per year.[46]

In 2022, Iberdrola inaugurated the Tâmega hydroelectric complex (Tâmega River – northern Portugal) with an investment of 1.5 billion euros. It involves the construction of three dams and three power plants (Gouvaes, Daivoes and Alto Tamega) with a combined capacity of 1,158 megawatts (MW), increasing 6% of the total electrical power in the country.[47] In 2022, investments of 10,730 million euros raised Iberdrola's net profit to 4,339 million euros, which represents an increase of 11.6% compared to the previous year. During the year, Iberdrola reached 40 GW of operational renewable energy and expects to add 7,675 MW in the next four years (of which, 3,500 MW will be offshore wind). In addition, it reached an emission of 59 grams CO2/kWh in Europe.[48] At the beginning of 2022, Iberdrola commissioned a 730 km energy transmission line in Brazil, the largest power line across its operations globally.[49][50]

At the end of 2022, Iberdrola Group had 60,761 MW of total installed capacity, of which 40,066 MW is renewable.[51] In 2023, the company reached a capacity of 62,045MW and 41,246 MW respectively, increasing the renewables by 6.5% worldwide.[9][8][52]

In February 2023, the company started developing a solar module factory in Langreo, Spain with an initial investment of €20 million. In March 2023 Iberdrola and BP signed a strategic alliance to accelerate the deployment of electric mobility and decarbonisation of transport. Specifically, their collaboration includes investing €1 billion to deploy a network of 11,700 fast and ultra-fast charging points for electric vehicles in Spain and Portugal.[53][54][55]

In April 2023, Iberdrola signed a memorandum of understanding with Mexico Infrastructure Partners to sell 8539 MW of capacity from its gas-fired plants, and its 103 MW wind asset La Venta III as part of the $6 billion deal.[56][57] The company remained the primary private producer of renewable energy in Mexico, and this initiative is in line with its carbon reduction goals.[58]

The company entered into a strategic partnership with the Abu Dhabi-based company Masdar to jointly develop the 476 MW Baltic Eagle offshore wind farm in the German Baltic Sea in summer 2023.[59][60]

In July 2023, Iberdrola agreed on a deal with Vodafone to provide renewable energy across three countries – Spain, Portugal and Germany with 410GWh of solar energy from newly constructed solar plants.[61]

As of the summer of 2023, 7,100 MW of new renewables capacity is under construction globally for a total investment of €12 billion, of which 3,000 MW relates to offshore wind.[62]

According to the data published by the National Securities Market Commission (CNMV) in July 2023, the company has increased its renewables installed capacity by 6.5% worldwide in the last 12 months, reaching a total of 41,246 MW.[9][8]

As of 2023, the company has a workforce of 41,000 employees and assets of more than €160 billion.[63] In 2023, Iberdrola's net profit for the first half rose to €2.52 billion from 2.08 billion euros a year earlier.[64]

The European Investment Bank and Iberdrola have signed a €1 billion financing arrangement in 2023 to develop 19 solar power plants and three onshore wind farms in Spain, Portugal, and Germany. 70% of the plants will be built in rural areas impacted by the transition to net-zero and cohesion zones. The projects will generate enough green energy to power over 1 million households on average each year.[65][66]

In 2024, Iberdrola reaches an agreement to purchase the remaining 18.4% of its US subsidiary, Avangrid and inauguration of the group's fourth offshore wind farm, Saint-Brieuc in France.[67]

Since the beginning of 2025, Unión General de Trabajadores, Workers' Commissions, and European Labour Authority, representing a majority of Iberdrola employees, have been in negotiations for updated contracts. Unionists allege that executive chairman's José Ignacio Sánchez Galán's salary of "40,000 euros per day, [is] more than the average of the staff per year"[68], and desire wages pegged to inflation and increased labor protections.[69][70]

In May 2025, the company received a £600 million loan from the National Wealth Fund to upgrade the UK's power grid.[71]

In September 2025, Iberdrola held its Capital Markets Day, where it updated the Strategic Plan first presented in March 2025, increasing investment to €58 billion through to 2028. Eighty-five per cent of this investment will be channelled to countries with an A rating, primarily the United States (€16 billion) and the United Kingdom (€20 billion). Other key areas of investment will include the Iberian Peninsula (€9 billion), Brazil (€7 billion), and EU countries and Australia (€5 billion).[72]

Electricity networks will remain the main focus of investment, particularly in distribution and transmission. As highlighted during the Capital Markets Day, the decision to prioritise the United States and the United Kingdom is based on the fact that these countries offer more favourable regulatory conditions. Between 2029 and 2031, Iberdrola plans to invest a further €45 billion, once again prioritising A-rated countries. The remainder will be allocated to renewables and customer-focused initiatives.[73]

Offshore wind

One of the group's main vectors is offshore wind. It has facilities in UK, Germany, USA, France and develops offshore wind activities in Poland,[90] Sweden,[91] Ireland,[92] the United States,[93] Brazil,[94] the Philippines[95] and Japan, expanding its offshore wind portfolio to 30 GW.

At the end of 2023, Iberdrola had 1,793 MW offshore in operation and 3000 MW under construction or secured with long-term contracts, which will come into operation before 2027 thanks to investments of nearly 30,000 million euros worldwide during this decade.[103]

The company currently has four offshore wind operating plants and four under construction: Baltic Eagle (Germany) and Vineyard Wind I (USA) will come on stream in 2025 and East Anglia 3 (UK) and Windanker (Germany) the following year.[104]

The company's major offshore wind energy projects include:

Japan: Following the acquisition of Acacia Renewables (now Iberdrola Renewables Japan), the company has partnered with Macquarie's GIG for a 3.3 GW offshore wind project in southwest Japan. Additionally, the Seihoku-oki offshore wind project of 600 MW is in development with Cosmo Eco Power and Hitz engineering.[21][96]
Taiwan: Iberdrola Taiwan is progressing two offshore wind projects, Da Chung Bu (1,200 MW) and Guo Feng (350 MW), aiming for the 2023 selection in Taiwan's Zonal Development Round 3.2.[97]
Ireland: Iberdrola is working on the Inis Ealga and Clarus wind farms in County Cork and County Clare, respectively, using floating offshore wind technology. The Shellalere project, off the east coast, will use fixed foundations. Combined, these projects will power about 2.6 million homes.[98][99]
Philippines: An agreement with Triconti ECC Renewables grants Iberdrola the option on five offshore wind projects with a potential total capacity of 3.5 GW.

East Anglia Hub (United Kingdom) — Iberdrola's biggest offshore wind project worldwide with total installed capacity of 2,900 MW started in 2022 and is able to supply clean energy to 2.7 million British homes.[105][106]
Saint-Brieuc (France) — offshore wind power project with a total installed capacity of 496 megawatts (MW) from 62 turbines each generating 8 MW of power, which cover a surface area of 75 km2, located 16 km off the French coast and capable of generating enough clean energy for 835,000 people.[107]
West of Duddon Sands (United Kingdom) — offshore wind farm, located off the northwest coast of England has a 389 MW capacity.[108]
Vineyard Wind I (United States) — company's first offshore wind farm in Massachusetts, with a capacity of 800 MW, which is able to meet the energy needs of over 400,000 homes.[109]

Onshore wind

Geographical presence

The company has more than 20,000 MW of installed capacity worldwide in onshore wind energy, including the US, Mexico, Brazil, UK, Spain, Portugal, France, Poland, Hungary, Romania, Greece, Cyprus and Australia

Iberdrola has a substantial presence in Brazil's onshore wind sector, with a total capacity of 1,394 MW spread across various states. In Bahia, its Caetité Complex has had 90 MW operational since 2012. Paraíba hosts several of their facilities, including Canoas and Lagoa 1 & 2 with a combined capacity of 96 MW since 2017, and the major Complejo eólico de Chafariz at 471 MW, which began operations in 2021. The Rio Grande do Norte state has been a focal point for Iberdrola, with projects like Rio do Fogo, Mel II, Arizona I, and the expansive Calango Complex, cumulatively contributing over 300 MW. The same state also houses the Santana Complex with 54 MW of capacity.[113][94]

Iberdrola has several onshore wind facilities in Mexico, totalling 693 MW. In Oaxaca, installations include La Ventosa (80 MW, 2008), Bee Ni Stipa (26 MW, 2010), La Venta III (103 MW, 2011), an expansion of La Ventosa (22 MW, 2013), and Dos Arbolitos (70 MW, 2015). Puebla hosts Pier II (66 MW, 2015) and Pier (221 MW, 2021). Guanajuato has the Santiago Eólico project (105 MW, 2021). Most operate under a commercial PPA, with La Venta III under an Independent Power Producer arrangement.[114]

Geographical presence

Solar power

Geographical presence

As of 2023, Iberdrola's installed PV capacity exceeds 4,500 MW in USA, Mexico, Brazil, UK, Spain, Australia, Portugal, Italy and Greece.

In July 2023, Iberdrola Germany completed the installation of its inaugural turnkey photovoltaic system at AkzoNobel Powder Coatings GmbH in Reutlingen. Finalized in under a year by an international team, the system is expected to reduce CO2 emissions by 125 tons annually.[138]

In Brazil, subsidiary Neoenergia plans to install a floating photovoltaic plant. The project will be built on the Xaréu dam, on the island of Fernando de Noronha, in the northeast of the country. With nearly 940 panels, the plant will cover more than 50% of the energy needs of the island's water and sewage distribution network.[139]

Santiago and Hermosillo photovoltaic power plants (Mexico) are Iberdrola's largest photovoltaic power plants. Located in Mexico and commissioned in 2018. They have 660 000 PV modules and an installed capacity of 170 MW, generating 460 GWh per year. It is capable of supplying electricity to 138,000 homes.

In Great Britain, Iberdrola, through its British subsidiary ScottishPower, agreed to purchase seventeen photovoltaic solar energy projects in the United Kingdom, totalling a combined capacity of more than 800 MW. The plants spread across central England, south Wales and northern Scotland.[140]

Green hydrogen

Geographical presence

Green hydrogen is produced by breaking down water using electrolysis powered by renewable energy sources.[150] Iberdrola has 60 green hydrogen projects in eight countries – The USA, Mexico, Brazil, UK, Spain, Portugal, Italy and Australia – for electrification and decarbonisation in industry and heavy transport sectors:[151]

Among the company's major green hydrogen projects is Puertollano (Spain) – the largest plant producing green hydrogen for industrial use in Europe, with a production capacity of more than 200,000 tonnes/year. It comprises a 100-MW solar photovoltaic plant, a lithium-ion battery system with a storage capacity of 20 MWh and one of the world's largest hydrogen production systems using electrolysis (20 MW) from fully renewable sources. The operation of this plant allows avoiding emissions equivalent to 48,000 tCO2/year.[160]

In Barcelona, Iberdrola also has the first commercial renewable hydrogen production and filling facility in Spain, which is used by Transports Metropolitans de Barcelona (TMB) buses and other fleets and industries in the Zona Franca industrial estate, where it is located.[160]

Geographical presence

In May 2021, the company started a joint project with Cummins regarding the 500MW-per-year facility hydrogen electrolyser gigafactory in Spain, in the central region of Castilla-La Mancha, near Madrid.

Data Center

The company has announced in 2024 the launch of a subsidiary specialized in Data Centres: CPD4Green which aims to be Europe's largest hub for data centers and AI processing.[165]

Offshore wind

The company's major offshore wind energy projects include:

Japan: Following the acquisition of Acacia Renewables (now Iberdrola Renewables Japan), the company has partnered with Macquarie's GIG for a 3.3 GW offshore wind project in southwest Japan. Additionally, the Seihoku-oki offshore wind project of 600 MW is in development with Cosmo Eco Power and Hitz engineering.[21][96]
Taiwan: Iberdrola Taiwan is progressing two offshore wind projects, Da Chung Bu (1,200 MW) and Guo Feng (350 MW), aiming for the 2023 selection in Taiwan's Zonal Development Round 3.2.[97]
Ireland: Iberdrola is working on the Inis Ealga and Clarus wind farms in County Cork and County Clare, respectively, using floating offshore wind technology. The Shellalere project, off the east coast, will use fixed foundations. Combined, these projects will power about 2.6 million homes.[98][99]
Philippines: An agreement with Triconti ECC Renewables grants Iberdrola the option on five offshore wind projects with a potential total capacity of 3.5 GW.

East Anglia Hub (United Kingdom) — Iberdrola's biggest offshore wind project worldwide with total installed capacity of 2,900 MW started in 2022 and is able to supply clean energy to 2.7 million British homes.[105][106]
Saint-Brieuc (France) — offshore wind power project with a total installed capacity of 496 megawatts (MW) from 62 turbines each generating 8 MW of power, which cover a surface area of 75 km2, located 16 km off the French coast and capable of generating enough clean energy for 835,000 people.[107]
West of Duddon Sands (United Kingdom) — offshore wind farm, located off the northwest coast of England has a 389 MW capacity.[108]
Vineyard Wind I (United States) — company's first offshore wind farm in Massachusetts, with a capacity of 800 MW, which is able to meet the energy needs of over 400,000 homes.[109]

Onshore wind

Geographical presence

In the U.S., Iberdrola's Midland onshore wind project in Illinois has a total capacity of 106 MW, fully installed by December 2022, with operations starting in 2023 under a Power Purchase Agreement. The average net capacity factor for Iberdrola's existing onshore wind facilities is around 29%, with new ones at approximately 41%.[115][116]

In the UK and Ireland, Iberdrola has an extensive onshore wind portfolio. In England, facilities include Carland Cross, Coldham, Lynemouth, and Coal Clough Repowering. Northern Ireland has projects like Corkey, Rigged Hill, Elliots Hill, Callagheen, and Wolf Bog. In the Republic of Ireland, the Barnesmore facility was established in 1997. Scotland is home to a notable number of Iberdrola's onshore facilities, such as Hagshaw Hill, Beinn a Tuirc, Black Law I and II, Whitelee and its extensions, and the more recent Kilgallioch and Halsary projects. Wales features the P&L project. Most of these projects benefit from a 1.0 ROC/MWh support regime, though some later projects transitioned to 0.9 ROC/MWh or corporate PPAs.[117][118]

Iberdrola Spain has wind plants with installed power that reaches 6,446 MW, enough to supply more than 6,532,352 homes, and with a net production capacity of 5,123 GWh. In Spain, there are almost 200 wind farm installations in 13 autonomous communities.[119]

In Australia, Iberdrola has an onshore wind installation capacity of 880 MW, installed between 2005 and 2021. The support regime for these installations is a combination of the Market and Power Purchase Agreements (PPAs).[120]

In Cyprus, Iberdrola has 20 MW of onshore wind power, installed in 2011. This capacity benefits from a Feed-in Tariff support regime.[121]

Iberdrola's onshore wind installations in Greece total 403 MW, established between 1998 and 2022. These installations are supported by a variety of regimes including Merchant, Feed-in Tariff (FiT), and Feed-in Premium (FiP).[122]

The company boasts an onshore wind capacity of 118 MW in France, installed between 2007 and 2019. The support mechanisms for these plants include FiT, Contracts for Difference (CfD), and Merchant.[123]

In Hungary, Iberdrola has a capacity of 158 MW, installed between 2008 and 2011. The installations in Hungary are supported by a Feed-in Tariff (FiT).[124]

Iberdrola's onshore wind installations in Portugal total 92 MW, installed from 2005 to 2009. These installations benefit from a FiT cap/floor support regime.[125]

In Romania, the company has an onshore wind capacity of 80 MW, set up in 2011. These installations leverage a combination of PPA and Green Certificate as their support regime.[126]

Iberdrola established onshore wind installations totalling 134 MW in Poland, between 2021 and 2022. The installations benefit from a PPA combined with Green Certificates as their support regime.[127]

Iberdrola has more than 20,000 MW of onshore wind installed capacity worldwide.[128]

According to the company's strategic plan, 25% of the investment in renewables will be allocated to increase its installed capacity in this technology by 3,100 MW. In 2023, Iberdrola's onshore wind capacity increased by 4%, compared to 2022, reaching 20,202 MW.[128]

The company's major onshore wind energy projects include:

In 2024, Iberdrola acquired the British electricity distributor Electricity North West (ENW) for EUR 5,000 million, becoming the second largest electricity network operator in the United Kingdom. As a result of this purchase, Iberdrola's regulated assets in networks in the country reach EUR 14 billion.[137]

Oitis (Brazil) – an onshore wind farm complex in Brazil consisting of 12 wind farms with a total installed capacity of 566.5 MW, which makes it the largest onshore wind farm project in Latin America and the second largest in the world. The project started in 2020 and has a total area of 2.1 million m2 and is able to supply around four million people.[129][130]
El Escudo (Spain) — the project involves the construction of a wind farm with a capacity of 105 MW in the province of Cantabria. The project is expected to generate enough clean energy to power over 95.000 homes and reduce carbon emissions by 45,000 tons per year.[131]
Port Augusta Renewable Energy Park (PAREP) (Australia) — a 317 MW hybrid renewable energy project under development in Port Augusta city.[132]
El Cabo Wind Farm (USA) — a 1,000MW onshore wind power project. It is planned in New Mexico.[133][134]

Geographical presence

In Cyprus, Iberdrola has 20 MW of onshore wind power, installed in 2011. This capacity benefits from a Feed-in Tariff support regime.[121]

In Hungary, Iberdrola has a capacity of 158 MW, installed between 2008 and 2011. The installations in Hungary are supported by a Feed-in Tariff (FiT).[124]

Iberdrola's onshore wind installations in Portugal total 92 MW, installed from 2005 to 2009. These installations benefit from a FiT cap/floor support regime.[125]

In Romania, the company has an onshore wind capacity of 80 MW, set up in 2011. These installations leverage a combination of PPA and Green Certificate as their support regime.[126]

Iberdrola established onshore wind installations totalling 134 MW in Poland, between 2021 and 2022. The installations benefit from a PPA combined with Green Certificates as their support regime.[127]

Iberdrola has more than 20,000 MW of onshore wind installed capacity worldwide.[128]

The company's major onshore wind energy projects include:

Oitis (Brazil) – an onshore wind farm complex in Brazil consisting of 12 wind farms with a total installed capacity of 566.5 MW, which makes it the largest onshore wind farm project in Latin America and the second largest in the world. The project started in 2020 and has a total area of 2.1 million m2 and is able to supply around four million people.[129][130]
El Escudo (Spain) — the project involves the construction of a wind farm with a capacity of 105 MW in the province of Cantabria. The project is expected to generate enough clean energy to power over 95.000 homes and reduce carbon emissions by 45,000 tons per year.[131]
Port Augusta Renewable Energy Park (PAREP) (Australia) — a 317 MW hybrid renewable energy project under development in Port Augusta city.[132]
El Cabo Wind Farm (USA) — a 1,000MW onshore wind power project. It is planned in New Mexico.[133][134]

Geographical presence

As of 2023, Iberdrola's installed PV capacity exceeds 4,500 MW in USA, Mexico, Brazil, UK, Spain, Australia, Portugal, Italy and Greece.

In Australia, Port Augusta Renewable Energy Park hosts the first wind-solar hybrid plant in the world. Located in the state of South Australia, the plant combines a 210 MW capacity wind farm and a 107 MW photovoltaic plant.[39][132]

Iberdrola has expanded its presence in Italy with its first 23 MW photovoltaic installation in Montalto di Castro, Lazio. The company aims to triple its Italian project portfolio by 2025. Upon completion, the facility will power over 12,000 homes and reduce CO2 emissions by 9,600 tons annually.[141][142]

The company is also developing a resilient and dynamic pipeline of new projects with a balanced mix of mature wind, solar, and storage projects in Greece, with plans to install significant additional capacity by 2025.[143]

Fernando Pessoa Solar Farm is a renewable energy project in Santiago do Cacém, Portugal. The farm consists of over 100,000 solar panels spanning across 100 hectares of land. The project has a capacity of 25 MW and generates enough electricity to power over 10,000 homes.[144][145]

In 2023 the company installed more than 4,500 MW of solar energy capacity. Among its plans for growth in clean energy, solar photovoltaic technology will receive 24% of the investments for renewables in the company's strategic plan, allowing installed solar capacity to increase by 6,300 MW.

The company's major solar energy projects include:

Cedillo photovoltaic project (Spain) – with 250,000 solar panels located in the municipalities of Majada Alta and San Antonio, these plants produce 156,000 megawatt hours (MWh) of electricity per year, enabling the distribution of clean energy to more than 45,000 households.[146]
Núñez de Balboa (Spain) – one of the biggest photovoltaic plants in Europe with an installed capacity of 500 megawatt peak (MWp), this facility will supply clean energy to 250,000 homes.[147]
Photovoltaic power stations of Santiago and Hermosillo (Mexico) – Iberdrola's largest photovoltaic power station. Located in Mexico and commissioned in 2018, it has 660,000 photovoltaic modules and an installed capacity of 170 MW, generating 460 GWh per year. It is capable of supplying electricity to 138,000 households.[148]
Lund Hill photovoltaic plant (United States) – photovoltaic plant located in Klickitat, Washington, USA. It has an installed capacity of 194 MW.
Francisco Pizarro photovoltaic plant (Spain) – has an installed capacity of 590 MWp, and supplies clean energy to 334,400 homes.[149]

Green hydrogen

Geographical presence

Iberdrola together with H2 Green Steel in December 2021 announced €2.3 billion Green hydrogen venture, a 1GW plant to produce and feed Green Hydrogen to a 2-million-tonne direct reduction tower, enabling Green Steel production with a reduction of CO2 emissions by 95 percent.[162] In May 2022, the company partnered with low-carbon development firm Storegga to develop, build and operate green hydrogen production plants across Scotland. The first project is the Cromarty Hydrogen Project, located north of Inverness and designed to deliver up to 20 tonnes of green hydrogen per day.[150]

In July 2022, Iberdrola began working with BP to create a joint venture for large-scale (6GW) green hydrogen production in Spain, Portugal and the UK, as well as the production of clean ammonia and methanol.[163][164]

In Spain, Iberdrola has a solid footprint with two operational plants in Puertollano, in collaboration with Fertiberia, and in Barcelona with TMB. Furthermore, they are exploring the potentials of green H2, ammonia, and methanol in ongoing ventures.[152]
In the UK, the company laid out a roadmap with three significant green hydrogen projects. The Felixstowe project, set to produce 100 MW, is focusing on port operations. The Whitelee project, with a 10 MW capacity, targets mobility, while the Cromarty initiative, boasting a 29 MW capacity, serves the whisky industry.[153]
In Australia, Iberdrola's green initiatives span Tasmania and the mainland, emphasising the production of green hydrogen, methanol, and ammonia.[154]
In Brazil, strategic agreements have been inked with key regional authorities and ports, including Estado Rio Grande do Sul, Estado Rio Grande do Norte, Porto Açu, and Ceará, aiming to cultivate the growth of Green H2 and its derivatives.[155][100]

Geographical presence

In Spain, Iberdrola has a solid footprint with two operational plants in Puertollano, in collaboration with Fertiberia, and in Barcelona with TMB. Furthermore, they are exploring the potentials of green H2, ammonia, and methanol in ongoing ventures.[152]
In the UK, the company laid out a roadmap with three significant green hydrogen projects. The Felixstowe project, set to produce 100 MW, is focusing on port operations. The Whitelee project, with a 10 MW capacity, targets mobility, while the Cromarty initiative, boasting a 29 MW capacity, serves the whisky industry.[153]
In Australia, Iberdrola's green initiatives span Tasmania and the mainland, emphasising the production of green hydrogen, methanol, and ammonia.[154]
In Brazil, strategic agreements have been inked with key regional authorities and ports, including Estado Rio Grande do Sul, Estado Rio Grande do Norte, Porto Açu, and Ceará, aiming to cultivate the growth of Green H2 and its derivatives.[155][100]

Hydroelectric energy

With a global installed capacity exceeding 14,000 MW, the company supports this form of power generation. It has facilities in the US, Brazil, Spain.

Tâmega hydroelectric complex project involves the construction of three power plants: Gouvães, Daivões, and Alto Tâmega with installed capacity totalling 1,158 MW.[166]

Iberdrola España has a presence in eight hydroelectric plants and three mini-hydroelectric plants in the basin of the Douro River, the largest hydrographic basin in the peninsula, as it passes through Castile and León. More than 2,069 MW of installed capacity with the capacity to offer sustainable energy to almost one and a half million families, with the Aldeadávila dam and the Saucelle dam being the most important producers.[167][168]

Iberdrola manages multiple hydroelectric facilities in Brazil, such as the Sobradinho Dam in Bahia with a 1,050 MW capacity and the Baixo Iguaçu Hydroelectric Plant on the Iguaçu River, spanning the states of Paraná and Santa Catarina. Additionally, the company oversees the 180 MW Salto Caxias Hydroelectric Plant in Santa Catarina, the 192 MW Garibaldi Hydroelectric Plant, and the Machadinho Hydroelectric Plant, which harnesses the Pelotas River's power between Santa Catarina and Rio Grande do Sul to produce 1,140 MW.[169]

In the US, Avangrid Hydroenergy, a subsidiary of Avangrid, Inc., operates several hydroelectric facilities across the country, with the capacity to generate a significant amount of clean, renewable energy. For instance, in Maine, Avangrid Hydroenergy operates the Forest City Hydroelectric Facility, which has a capacity of 23.5 MW, providing power to approximately 15,000 households annually.[170] In New Hampshire, the company operates the Bear Swamp Hydroelectric Facility, capable of generating 600 MW of electricity, enough to power around 250,000 homes. Additionally, in Connecticut, Avangrid Hydroenergy operates the Shepaug Hydroelectric Facility, which has a capacity of 10 MW, supplying power to thousands of households.[171]

Tâmega Hydroelectric Complex (Portugal) is a project in the north of Portugal, which includes three new dams and hydroelectric plants: Gouvães, Daivões, and Alto Tâmega.[172]

Baixo Iguaçu Hydroelectric Plant (Brazil) is a project located in Paraná state. This plant helps supply energy to thousands of Brazilian homes and reinforces the company's commitment to renewable energy in the country, with installed capacity of over 350 MW and supplies renewable energy to one million people.[173]

The Aldeadávila Hydroelectric Power Station (Spain) is a plant located in the canyon of the lower section of the river Duero as it flows through the province of Salamanca, in the area known as the Arribes del Duero Natural Park. This infrastructure is one of the largest electricity generators in Spain, as its production accounts for more than 8.5% of the country's average hydroelectric generation, enough to supply 733,000 homes.[174]

Iberdrola produces 14,716 GWh of hydroelectric power worldwide. Hydroelectric energy is essential for the energy transition, and is a leader in energy storage with a capacity of 4,000 MW installed through pumped hydroelectric plants.

hq location city
type	Sociedad Anónima
traded as	bmad: IBE IBEX 35
isin	isin: ES0144580Y14
foundation	November 1, 1992
location	Iberdrola Tower

History

Pre-WWII

Acquisitions

Chairmen

Lines of business

Renewable energy

Main subsidiaries

Iberdrola España, S.A.U.

ScottishPower

Assets in Spain

Renewables

Onshore wind

Hydroelectric

Assets worldwide

Renewable energy

Public activities

Sports sponsorships

See also

External links

Press articles

References

Post-WWII

Offshore wind

Onshore wind

Geographical presence

Geographical presence

Solar power

Geographical presence

Green hydrogen

Geographical presence

Geographical presence

Data Center

Offshore wind

Onshore wind

Geographical presence

Geographical presence

Solar power

Geographical presence

Green hydrogen

Geographical presence

Geographical presence

Data Center

Hydroelectric energy

Smart grids

Geographical presence

Geographical presence

Avangrid

Neoenergia, S.A.

Iberdrola Mexico, SA de CV

Iberdrola Energía Internacional, S.A.U.

Onshore wind

Hydroelectric

Solar

Wind-solar

Green Hydrogen

Combined cycle plants

Nuclear plants