The transformation from traditional utility to renewable energy leader has required sustained capital deployment over two decades. Ignacio’s vision has consistently prioritised long-term sustainability over short-term returns, positioning Iberdrola as a benchmark for the sector.
Strategic priorities for decarbonisation
Iberdrola’s Strategic Plan for the next three years allocates US$64bn in investments, with significant emphasis on electricity networks to support renewable integration.
The Bilbao-based firm plans to invest US$37bn in distribution and transmission infrastructure, primarily in the UK and US.
“The opportunities that the United States offers at the moment are great,” he states on Bloomberg TV.
This represents approximately 70% of the network investment, tarreceiveing an average nominal return on equity of about 9.5% in new projects. The focus on grid infrastructure reflects recognition that renewable expansion requires modernised transmission capacity.
The renewables portfolio receives US$23bn, with 38% dedicated to offshore wind projects. Developments under construction include East Anglia TWO and East Anglia THREE in the UK, alongside Windanker in Germany.
By 2028, Iberdrola expects to exceed 60 GW of installed renewable capacity, with 75% already under construction or ready to build. Approximately 85% of production will be secured through long-term contracts and power purchase agreements, providing stability whilst advancing decarbonisation objectives.
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