We are ready for the future with the biggest renewables pipeline in the industry

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Iberdrola's investment plan for the period 2020-2025, now extended to 2030, reaffirms its commitment to renewable energies. Of the projected €75 billion for 2025, 90 % will be organic investments (€68 billion) and, of these, 51 % (some €34.68 billion) will be earmarked for renewables, which will amount to 60 gigawatts (GW) of installed capacity by 2025, doubling the current capacity. With the extension to €150 billion euros by 2030, the company plans to reach an installed renewable capacity of 95 GW, and is uniquely positioned with a renewables pipeline of 81.5 GW, one of the largest in the industry.

After adding 25 GW to its pipeline in 2020, reaffirming the foundations for future growth, Iberdrola has today one of the largest renewables portfolios in the industry: a total of 81.5 GW throughout its traditional areas as well as new growth platforms in Poland, Sweden, Ireland, Japan, Korea, Taiwan and Australia. By technologies, this portfolio comprises: 36.6 GW photovoltaic; 25.2 GW offshore wind; 15.5 GW onshore wind; 3.4 GW hydroelectric; and 1.1 GW correspond to storage batteries. In Spain alone, the company has connection rights for 15 GW and land rights for an equivalent capacity.

At the close of the First Half 2021, of the 27,600 MW that the group has committed to commissioning in the 2020-2025 period, almost 22,000 MW are already installed, under construction or with a high level of maturity, therefore guaranteeing 80 % of new capacity forseen for this period: 9,464 MW wind (6,570 MW onshore and 2,894 MW offshore), 10,894 MW photovoltaic, 1,200 MW hydroelectric and 391 MW in battery storage.

To be precise, Iberdrola is currently building 8.5 GW: 2,750 MW in the United States, 2,860 MW in the territories of Iberdrola Energía Internacional, 1,700 MW in Spain, 1,050 MW in Brazil and 150 MW in the United Kingdom (with 100 MW in batteries). This will allow the company to finish the year with an additional 4,000 MW in operation, added to the 2,960 green MW commissioned in the last 12 months (1,950 MW onshore wind, 930 photovoltaic and 80 MW in batteries).


Iberdrola moves forward with its investment plan for 2025 of €75 billion, which has now been extended to €150 bn by 2030. Thanks to this plan, the company will double its current renewable installed capacity in 2025, to 60 GW, and triple it in 2030, to reach approximately 95 GW. A total of 90 % of the group's long-term plan is aligned with the European Union green taxonomy.

Of the €75 billion of investment planned for 2025, 90 % will be organic (€68 billion) and will go mainly to renewable energies, specifically, 51 %, some €34.68 billion. Investments are focused on countries with ambitious climate and energy targets, such as the United States (where 33 % of investment in renewables will go by 2025), Spain (21 %), the United Kingdom (12 %) and Brazil (5 %). Particularly noteworthy is the geographical area operated by the subsidiary Iberdrola Energía Internacional (IEI), formed by Australia, Portugal, France, Italy, Germany, Greece and Ireland, among other countries. This company will receive 29 % of the investment by 2025 and will increase its installed renewable capacity to 8 GW by the end of that period.

 Offshore wind energy

Iberdrola plans to invest €2.1 billion in offshore wind power from 2020 to 2022 and €8.8 billion between 2023 and 2025. Offshore wind, a business in which the company is a pioneer, as it was 20 years ago in onshore wind, is one of the group's main growth vectors: at the close of the First Half 2021 it has 1.3 GW installed, which will triple with the construction of another 2.6 GW by 2025, which are progressing according to schedule: the Saint Brieuc farm (France, 496 MW), Vineyard Wind 1 and Park City Wind (the United States, 800 and 804 MW, respectively) and Baltic Eagle (Germany, 476 MW).

In addition, the company's strategy in the offshore wind segment will also be boosted by the auction processes planned in the short term in its main markets: Europe (37,000 MW between 2021-2022), the United States and Asia-Pacific (13,800 MW until 2024). The significant expansion of the portfolio comprising this technology — over 25 GW as of today —, based in new growth platforms with considerable potential, including Japan, Poland, Sweden and Ireland, will allow the group to reach 12,000 MW in operation by 2030.

In 2020, offshore wind projects contributed €585 million to EBITDA after growing by 72 %. This contribution will rise to €2.3 billion by 2030.

Offshore wind farms in operation:

  • East Anglia ONE (North Sea): with 714 MW of power, is the largest wind farm in Iberdrola's history to date. It began operation in August 2020 and has 102 turbines producing clean energy for 630,000 British homes.
  • Wikinger (Baltic Sea): this 350 MW facility marked Iberdrola's entry into Germany, where it is progressing with the construction of two other offshore wind farms: Baltic Eagle (476 MW) and Wikinger Süd (10 MW). These three wind farms, all located next to the island of Rügen, will give rise to the largest offshore wind complex in the Baltic Sea, with a total installed capacity of 836 MW and a combined investment of €2.5 billion.
  • West of Duddon Sands (Irish Sea): this is the first offshore facility that Iberdrola commissioned, in October 2014. It produces energy for 280,000 British homes.

Offshore wind farms currently under construction:

  • Saint Brieuc (Brittany): with an investment of €2.4 billion, it is estimated that, when it enters into operation in 2023, it will produce 1,820 gigawatt hours (GWh) per year, which will cover the energy demand of 835,000 people.
  • Baltic Eagle (Baltic Sea): this is the second major offshore wind initiative promoted by the Iberdrola group in Germany, where it is also developing Wikinger Süd (10 MW).
  • Vineyard Wind (Massachusetts): this will be Iberdrola's first offshore wind farm in the United States. Vineyard Wind 1 will have a capacity of 800 MW, with which it will be able to meet the energy needs of more than 400,000 homes.
  • Park City Wind (Connecticut): it is scheduled to enter into operation in 2025. Like Vineyard Wind 1 it will have a capacity of 800 MW.

In addition to these wind farms already in operation or under construction, Iberdrola has an additional pipeline of 22.6 GW.

Iberdrola is thus in an optimal position to participate in the auctions and tenders planned in the coming months on its new growth platforms for both projects in its existing portfolio — United States, 3,600 MW; United Kingdom, 3,100 MW; Japan, around 2,000 MW; Germany, 300 MW — and for new portfolio — Poland, 14 GW of capacity up for auction; United Kingdom, 10 GW of capacity up for auction; Ireland, around 5 GM of national target 2022-2025; France, 1.6 GW; Denmark, 1.6 GW; Taiwan, 1.2 GW; Netherlands, 1.4 GW; Unided States, 7 GW —.

 Photovoltaic energy

The projected investment in solar photovoltaic energy will reach €4.2 billion in the run up to 2022 and €5.5 bn by 2025. This will drive growth of 6 GW and 8 GW respectively, to produce a total installed capacity of 15 GW by 2025. At the close of the First Half 2021, Iberdrola has more than 2.2 operational GW of photovoltaic energy. Furthermore, of the capacity we committed to put into operation between 2020-2025, 10.9 GW are already installed, under construction or confirmed. Our portfolio of projects involving this technology now stands at 36.6 GW.

The main photovoltaic projects are: Francisco Pizarro, Ceclavín, Arenales, Puertollano and Campo Arañuelo (in Spain); Montague Solar, Lundhill, Lundhill, Mohawk and Bakeoven (USA); Cuyoaco (Mexico); Carland Cross Hybrid, Coldham Hybrid and Coal Clough Hybrid (UK); Algarve Setubal (Portugal); and Montalto di Castro (Italy).

 Onshore wind energy

Iberdrola plans to invest €6.1 billion between 2020 and 2022 and €5.9 billion from 2023 to 2025 in onshore wind energy, which will enable us to achieve 26 GW installed by 2025. At the close of the First Half 2021, the company has 18.9 GW of this technology operational and, of the capacity we have committed to put into operation between 2020-2025, 6.5 GW are already installed, under construction or confirmed. Our portfolio of onshore wind power projects now stands at 15.5 GW.

The main onshore wind projects are: Puylobo, ERPASA and Martín de la Jara (in Spain); Pier and Santiago (Mexico); Beinn and Tuirc 3 and Halsary (UK); Chafariz and Oitis (Brazil); La Joya I-II, Midland and Golden Hills (USA); Mikronoros and Askio II and III (Greece); and Rokani (Romania).

 Hydroelectric power and energy storage

By 2025, Iberdrola plans to reach 14 GW in hydroelectric power, both traditional and energy storage by means of pump technology.

The group will invest €1 billion up to 2022 and another €700 million by 2025 to increase its energy storage capacity, which will grow 1.7 GW by 2025. The pipeline of these technologies amounts to 3.4 GW for hydroelectric energy and 1,100 MW in the case of battery storage.


Iberdrola has identified green hydrogen as a strategic vector for the industrial sector. Therefore, in line with European recovery plans, the company plans to install 600 MW operational by 2025, which will be more than 800 MW by 2027 and will produce 15,000 tonnes of renewable hydrogen, compared to the 1,000 planned for 2022 — which it expects to increase to 85,000 tonnes by 2030. The company is already working alongside Fertiberia to develop Europe's largest green hydrogen plant for industrial use, which will be operational by 2021 and involve an investment of €150 million.

The company has also submitted 54 projects to the EU's Next Generation EU programme, which would trigger investments of €2.5 billion to reach an annual production of 60,000 tonnes/year. At the same time, it will lead the development of a value chain to support the deployment of new electrolyser manufacturers and will promote partnerships with other industrial groups. In this regard, the company has signed an agreement with the Norwegian company Nel, the largest manufacturer of electrolysers in the world, to develop large-scale electrolysers and promote the creation of a chain of suppliers of this technology in Spain. For this project, Iberdrola has joined forces with Basque company Ingeteam to create Iberlyzer, a company that will become Spain's first mass manufacturer of electrolysers.

Iberdrola has also announced the creation of a new green hydrogen business unit, with the aim of positioning itself as a world leader in this technology.

Green hydrogen may be seen as the solution for efficient decarbonisation in the medium term. 85 % of the current EU energy demand can be electrified using available clean technologies (according to Eurostat data). Meanwhile, the remaining 16 % could be decarbonised by replacing grey hydrogen — produced from polluting sources — with green hydrogen in the industrial and chemical sectors, as well as by using green hydrogen as a fuel for sectors that cannot use electricity, such as shipping, aviation and haulage. Replacing all the world's grey hydrogen would mean producing 3,000 TWh/year of extra renewable energy.


This strategy of investment in clean energy and our commitment to supporting measures to combat climate change worldwide have led us to continue to reduce our own emissions, to a point where at the close of the Fiscal Year 2020 they were 98 g per kWh.

We have also committed to be, by 2030, a carbon-neutral company in Europe, where our emissions in the First Half 2021 are already only 43 g/kWh, and to reduce our global CO2 emissions to 50g/kWh. It should be noted that Iberdrola now generates 100 % of its energy with zero emissions in countries such as the United Kingdom, Germany and Portugal. The group, a world benchmark in the fight against climate change and in the energy transition process, has set itself the target of reaching carbon neutrality globally by 2050.