Clean Energy Transition: Iberdrola unveils EUR 75 billion investment plan

Iberdrola launched a new investment plan worth EUR 75 billion for the period 2020 to 2025. The Spanish multinational electric utility company aims to take advantage of the opportunities created by the clean energy transition and support global efforts for a green recovery from the COVID-19 pandemic. Major parts of the investments will go toward fostering renewable energy and improved energy networks and storage, while some funds are also earmarked for intelligent customer solutions.

Iberdrola’s plan focuses on investments in countries with climate ambitions and an A-rating, allocating large sums to Spain, the United States, and the United Kingdom. Between 2020 and 2022, the plan includes spending of EUR 10 billion annually, rising to EUR 13 billion per year in the period 2023 to 2025. Iberdrola expects to hire about 5,000 new professionals in 2020, reaching almost 20,000 new recruitments by 2025.