Strategic Plan 2023-2025
A record investment to drive the energy transition
On 21 March 2024, we will present the update of our investment plan during Capital Markets & ESG Day.
By the end of 2023, Iberdrola had already exceeded many of the commitments made in the 2023-2025 Strategic Plan, which we announced in November 2022 to drive the energy transition and contribute to the creation of a secure and sustainable energy future. This rapid progress in compliance and the new challenges in the macroeconomic scenario lead us to update our commitments and our roadmap, which we will make public on 21 March, during our Capital Markets & ESG Day 2024
A commitment to financial strength
Our roadmap looks to the future with optimism and commitment. We are advancing our global growth with an investment plan based on the construction of more electricity grids and selective growth in renewables, accompanied by a commitment to new value-added solutions: the pillars to accelerate the electrification of all territories and sectors, including transport, industry and buildings.
An investment effort that we feel responsible for in order to promote a safe, clean and competitive energy system that allows us to curb greenhouse gas emissions and climate change.
"The record global investment plans we have set out today will help us to bring more self-sufficiency and resilience against potential energy shocks in the countries where we operate."
Ignacio S. Galán
Iberdrola's Executive Chairman
More about our Strategic Plan
Smart grids for a decarbonised world
In order to support renewable energy development, it is not enough just to increase our installed capacity: smart grids are essential for our clean energy to reach consumers safely and efficiently in any country in the world.
Smart gridsRenewables, key to our future growth
We need to accelerate the expansion of electrification through renewables to reduce our dependence on fossil fuels.
Renewable energyEnvironmental, social and governance factors
All our investments underpin our contribution to sustainable development and are fully integrated with the ESG+F objectives, our sustainability roadmap to 2030. This makes us today one of the private sector companies with the most ambitious environmental targets: carbon neutrality and net positive impact on nature.
ESG valuesSmart grids for a decarbonised world
In order to support renewable energy development, it is not enough just to increase our installed capacity: smart grids are essential for our clean energy to reach consumers safely and efficiently in any country in the world.
Smart gridsRenewables, key to our future growth
We need to accelerate the expansion of electrification through renewables to reduce our dependence on fossil fuels.
Renewable energyEnvironmental, social and governance factors
All our investments underpin our contribution to sustainable development and are fully integrated with the ESG+F objectives, our sustainability roadmap to 2030. This makes us today one of the private sector companies with the most ambitious environmental targets: carbon neutrality and net positive impact on nature.
ESG valuesSolutions to secure the future
At Iberdrola, we want to give added value to our customers, listen to their needs and make them a key player in the energy transition, whether they are residential or business users. For individuals, our proposals focus on solar self-consumption, electric mobility and green air conditioning. For industrial customers, we offer decarbonisation plans through long-term power purchase agreements or green hydrogen.
We invest in the care of the environment and of people
At Iberdrola, we are very aware of the need for our strategy and operations to always be aligned with environmental, social and governance (ESG+F) factors for socially responsible management.
In this way, the Strategic Plan will also contribute to our aim of making a positive impact on the well-being of people and the preservation of the planet.
We are making solid progress in the fulfilment of our Strategic Plan
By the end of 2023, Iberdrola had already exceeded a good part of the commitments made in the Strategic Plan. This rapid progress in meeting the plan is the best demonstration of our ability to execute our plans ahead of schedule, even in the current challenging macroeconomic scenario.
Of particular note was the early completion of the €7.5 billion Non-Core Asset Rotation Roadmap, within the first semester of 2023, as well as partnerships to co-invest with leading global funds, thanks to some important corporate transactions of the Group carried out in the first months of the plan's implementation.
Our investments in 2023 also endorse the two areas we are committed to as priority axes for the energy transition. Thus, we achieved a 8% increase in the Networks asset base, to €42.21 billion, and an increase of nearly 3,250 MW in our renewable capacity, reaching almost 42,187 MW in total.
Around 90% of the energy planned for 2023-25 is already sold, which secures us long-term revenues. In addition, we have power purchase agreements or PPAs for the period 2026-30 for more than 230 TWh.
In this context, the Group will present an update on our strategic plan during the next Capital Markets & ESD Day on 21 March, 2024.