Decentralization and autonomy

The Iberdrola Group has a decentralised structure and management model that approaches the decision-making to the countries in which such decisions must have effect. This is done through the country subholding companies and the head of business companies. In addition the System of corporate governance provides measures that entitle the listed subholding societies a special framework of strengthened autonomy.

 Simplified scheme of the corporate structure of the Group [PDF]

(*) Avangrid, Inc. is 81.50% owned by Iberdrola, S.A.

Holding company
Country subholding companies
Listed country subholding company
Head of business companies


  • Iberdrola, S.A. (holding company)

    • The Board of Directors defines and oversees the policies, strategies and guidelines for the management of the Group, and takes strategic decisions.
    • The chairman & chief executive officer, with the technical support of the Operating Committee, the Business CEO, and the rest of the management team, assumes the duty of organisation and strategic coordination of the Group through the dissemination, implementation, and monitoring of the overall strategy and basic management guidelines established by the Board of Directors.


  • Country subholding companies

    • The country subholding companies such entities group together equity stakes in the energy head of business companies carrying out their activities within the various countries in which the Group operates. This structure is rounded out with a country subholding company that groups together certain equity interests in other entities, including the non-energy head of business companies, with a presence in various countries
    • Help with the organisation and strategic coordination in the various countries, disseminating and implementing the policies and general guidelines of the Group.
    • Centralise the provision of services common to the head of business companies, always in accordance with the provisions of applicable law and especially the legal provisions regarding the separation of regulated activities.
    • Have boards of directors that include independent directors and their own audit committees and internal audit areas.
  • Listed country subholding companies

  • Head of business companies

    • The head of business companies assume decentralised executive responsibilities, enjoy the independence necessary to carry out the day-to-day administration and effective management of each of the businesses, and are responsible for the day-to-day control thereof.
    • Are organised through their respective boards of directors, which include independent directors where appropriate, and their own management decision-making bodies; they may also have their own audit committees, internal audit areas, and compliance units or divisions.


  • Iberdrola España, S.A.U.

    Country subholding company in Spain, Iberdrola España, S.A.U., operates in Spain through the following subsidiary companies: Iberdrola Generación España, S.A.U., Iberdrola Redes España, S.A.U. e Iberdrola Renovables Energía, all 100% owned by Iberdrola Spain, S.A.U.

    • Iberdrola Renovables Energía, S.A.: Iberdrola Renovables Energía, S.A. is the renewables head of business company.
    • Iberdrola Distribución Eléctrica, S.A.: Iberdrola Distribución Eléctrica, S.A.

      (Sociedad Unipersonal) , is the Grid business subholding company in Spain. Its business is catalogued within the regulated activities stipulated under Spanish Law no. 54/1997 of 27 November, (the Electricity Sector Act) and its subsequent legislative developments, particularly the strict separation of this activity from deregulated activities undertaken by other companies of the Group, and whose regulation is detailed in the "Code for the Separation of Activities of the Iberdrola Group with regulated activities in Spain".Our primary function consists in the transmission of electricity across relevant grids to reach end user facilities. In terms of the regulatory framework, our most important functions entail:

      • Planning, developing and operating the distribution grid.
      • Expanding installations to meet new supply needs.
      • Furnishing service in accordance with the regulatory quality of service.
      • Measuring usage at supply points.
      • Billing for the corresponding access fees.
    • Iberdrola Generación España, S.A.: Iberdrola Generación España, S.A., is the head of business company that carries out the deregulated activities of electricity generation and retails electricity and natural gas in Spain. As a result, Iberdrola Generación strives to undertake a full range of activities, work and services related to the electricity generation business, supplying fuel and primary energy or resources of any sort, marketing and trading energy products and raw materials on the pertinent markets, furnishing energy services in general and promoting, creating and developing industrial, commercial and service-based businesses, as well as fostering innovation and technological development in connection with any of the activities included in or related to its corporate purpose.

      Iberdrola Clientes, S.A. is a subsidiary society of Iberdrola Generación España, S.A.U. that carries out the deregulated activity of supply of electric power and natural gas, as well as other energy-related products and services. To this end, it carries out any activity set out in its corporate purpose or related thereto, including those that enable the effective performance of supply and service provision, maintenance of the commercial relationship with customers and the necessary procurement of the energy to be supplied, as well as the services that support the business activity.
  • Scottish Power, Ltd.

    ScottishPower, Ltd. Country subholding company in the United Kingdom. Scottish Power operates in the United Kingdom through the following head of business companies: Scottish Power Generation Holdings Ltd (SPGHL), Scottish Power Energy Networks Holdings Ltd (SPENHL) and ScottishPower Renewable Energy Ltd (SPREL), all indirectly wholly owned by Scottish Power, Ltd.

  • Avangrid, Inc.

    Avangrid, Inc., is the subholding company of Iberdrola in the United States. Its shares are listed in the New York stocj exchanges in which IBERDROLA, S.A. owns 81.50%. Through its head of business companies Avangrid Networks Inc. and Avangrid Renewables, LLC they provide renewable and thermal electricity generation; electricity transmission and distribution; natural gas storage and distribution; and renewable energy operations and energy services in 25 states stretching from New England to the West Coast. The System of corporate governance stablishes a special framework of strengthened autonomy which insures that the interest of minority shareholders of Avangrid Inc are properly protected.

  • Elektro Holding, S.A.

    Elektro Holding, S.A. is the Iberdrola Group's Brazilian subholding comprising holdings in the parent companies of distribution, renewable energy generation and electricity retail businesses operating in Brazil.

    • Elektro Redes, S.A.: Elektro Redes, S.A., (Subsidiary of Elektro Holding, S.A.) Grid business subholding company in Brazil is the eighth major electric power distributor in Brazil and the third in the State of São Paulo, and operates in a concession area characterized by geographic dispersion and socioeconomic diversity. The Company serves 223 municipalities in the State of São Paulo and five in the State of Mato Grosso do Sul, supplying electricity for more than 5.5 million people. Approximately 2.3 million home, industrial, commercial, rural, and public service clients are connected to the Company's network.
  • Iberdrola México, S.A. de C.V.

    Iberdrola México, S.A. de C.V. is a country head of business company of the Iberdrola Group in Mexico, a global energy company and the world leader in wind power with operation in the United Kingdom, USA, Brazil, Spain and México.

    Iberdrola México operates through two leading companies: Iberdrola Generación México, S.A. de C.V. and Iberdrola Renovables México, S.A. de C.V. and its main responsibility it's the definition and implementation of the strategy for the Iberdrola Mexico Group. These two leading companies have their own Board of Directors and have the responsibility and capacity to take their own decisions concerning its operations, ensuring an adequate separation in the management of businesses.

    • Iberdrola Generación México, S.A. de C.V.: Iberdrola Generación México, S.A. de C.V. is head of business company in México.
    • Iberdrola Renovables México, S.A. de C.V.: Iberdrola Renovables México, S.A. de C.V. is the head of business company in renewables in México.
  • Iberdrola Participaciones, S.A.U.

    Head of business company of the non-energy businesses: Iberdrola Ingeniería y Construcción, S.A.U. and Iberdrola Inmobiliaria, S.A.U.

    • Iberdrola Ingeniería y Construcción, S.A.U.: Iberdrola Ingeniería y Construcción, S.A.U. is a leading division of the Iberdrola Group's business and one of the IBERDROLA Group's technological cores.
      Our Company works on a 'turnkey' basis for the Group in the areas of generation, nuclear, renewable and networks. All projects are executed with a high degree of innovation, making the Company a leading engineering entity in the global energy sector thanks to its technological capabilities. The Company also develops projects in the aforementioned areas for other customers, reflecting its ability to compete against the main global groups of this sector in the international market.
    • Iberdrola Inmobiliaria, S.A.U.: Iberdrola Inmobiliaria, S.A.U. is a head of business company within the Iberdrola Group that has been in business since 1993, when the real estate companies of Iberdrola were consolidated. The company began intensifying its focus as a residential promoter in 1995. In 1999, the company took substantial steps by centring investments in three major areas, namely promoting housing developments, promoting and running rental estates, as well as managing and promoting land use.
      The company is currently a national real estate agency with an extensive breadth of product diversification: first-time homeownership, residential tourism, office buildings, industrial warehouses, shopping centres, etc.