News
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23/07/2025Investments of €17.3bn in the last year raise Iberdrola's H1 2025 profit to €3.56bn We are finalising the publication of this news story. In a few minutes, you will be able to read the full report. READ MORE
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22/07/2025 - 10:54 UTC +02:00Scottish Power Renewables completes installation of first section of export cable for East Anglia Three offshore wind farm ScottishPower Renewables, the renewable energy subsidiary of the Iberdrola Group in the United Kingdom , has completed the laying of the first section of the export cable for its East Anglia THREE offshore wind farm, reaching a new milestone in this clean energy project valued at around €4.7 billion. The cable has been connected to shore at Bawdsey, Suffolk (UK). The electricity generated offshore will travel approximately 147 kilometres from the wind farm to the coast. From there, the energy will travel another 37 kilometres by land to the HVDC converter station at Bramford, near Ipswich, using the infrastructure previously developed for East Anglia ONE. East Anglia THREE will have a capacity of 1.4 gigawatts (GW) and, once operational at the end of 2026, will become the Iberdrola Group's largest wind farm and one of the largest in the world, with the capacity to supply more than one million homes. READ MORE
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17/07/2025 - 14:12 UTC +02:0020,000 Tons of CO₂ Saved Annually: Iberdrola’s First Solar Park in Germany Powers Vodafone’s Mobile Network Iberdrola Deutschland, the Group's subsidiary in Germany, has started up its first solar farm in Germany, located in Mecklenburg-Vorpommern. Approximately 180 kilometers north of Berlin, a photovoltaic installation has been completed in the municipality of Boldekow and inaugurated together with Vodafone. The solar park will generate more than 53 gigawatt-hours of renewable electricity annually, supplying power to around 3,000 Vodafone mobile towers. Over its planned 30-year lifespan, Iberdrola’s new solar park is expected to save approximately 20,000 tons of CO₂ per year, making a sustainable contribution to decarbonization and the energy transition. The Boldekow facility marks Iberdrola’s first photovoltaic project in Germany. With its offshore wind farms Wikinger, Baltic Eagle, and Windanker, Iberdrola is already the largest operator of offshore wind energy in the German Baltic Sea. The new solar park expands the company’s commitment in Germany to include onshore renewable energy. “Photovoltaics are another building block to expand our exclusively renewable energy offering in Germany,” says Felipe Montero, CEO of Iberdrola Deutschland. “The location in Mecklenburg-Vorpommern was chosen not only for its strong solar radiation but also for the region’s openness and support for such a sustainable project.” “Digitalization helps thousands of companies across the country save energy and become more sustainable. But digitalization can only be truly effective if we make it more sustainable ourselves – for example, by powering our networks. That’s why we’re now relying even more on solar energy for mobile communications in Germany. The 80,000 solar panels Iberdrola is launching in Mecklenburg-Vorpommern will power our network exclusively and ensure the operation of more than 3,000 stations nationwide,” says Marcel de Groot, CEO of Vodafone Germany. The electricity generated across an area equivalent to more than 65 football fields will be supplied entirely to Vodafone Germany under a long-term agreement. The solar panels utilize not only direct sunlight but also reflected radiation from the surroundings. Vodafone recently announced its CO₂ neutrality for its own emissions (Scope 1 & 2). A key lever: electricity consumption. Since 2020, Vodafone has been using renewable energy. The partnership with Iberdrola now enables long-term planning for sustainable electricity procurement. The solar park was implemented with partner companies including Solarpro, Sungrow, P&Q, and 4Energy. In addition to producing renewable energy for Vodafone Germany, the Boldekow facility also brings benefits to the local community. Through property taxes, the solar park will generate millions in revenue for the municipality over the coming decades. During the construction phase, various local companies and workers were involved. “The transformation of energy supply must be rooted in the regions,” says Felipe Montero, who sees the Boldekow facility and the onshore segment as part of a holistic technology strategy. “The energy transition will only succeed if we think of all technologies together. Investments in offshore and onshore require clear processes and a reliable regulatory framework.” READ MORE
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17/07/2025 - 09:00 UTC +02:00Iberdrola completes the acquisition of the electricity business of Electra del Maestrazgo in Castellón and Teruel Iberdrola has completed the acquisition of the energy distribution, marketing and generation business of Electra del Maestrazgo, a family-owned utility based in Castellón. The CNMC has announced its approval of the transaction. Electra del Maestrazgo has 1,350 km of medium and low voltage lines, 21,000 supply points, 19,000 customers and 6.8 MW of installed capacity with photovoltaic plants and hydroelectric generation. These assets will be integrated into Iberdrola's business, strengthening its operations and presence in the region. With this purchase, Iberdrola reinforces its commitment to energy efficiency in the provinces of Castellón and Teruel. The transaction is in line with Iberdrola's strategic plan , which focuses on the sale of non-strategic assets and reinvestment in assets that are relevant to the company's current business and objectives, such as smarts grids . With the recent sale of Maine Natural Gas and the acquisition of Electra del Maestrazgo's electricity business, a capital movement has been executed in line with this strategy. This acquisition is expected to have a positive impact on Iberdrola's results , consolidating its position as a leader in the energy sector. READ MORE
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16/07/2025 - 12:10 UTC +02:00Iberdrola signs a €2.5 billion credit line with 32 international banks Iberdrola this morning signed a €2.5 billion credit line, as it continued to strengthen its liquidity and diversify its funding sources. The deal, closed with 32 international banking institutions, was oversubscribed by 45%, reflecting the confidence of the banking sector in Iberdrola’s creditworthiness and strategy. Iberdrola is the largest utility in Europe and one of the two largest in the world by market capitalisation. The credit facility has a term of five years, with the option to extend for a further two years. It is a multi-currency facility and has the most competitive cost of all credit lines currently available to Iberdrola. Avangrid, Iberdrola’s subsidiary in the United States , has joined the deal due to the significant growth opportunities in the country, which has already become the Group’s main investment destination. During the signing, Iberdrola’s Executive Chairman, Ignacio Galán , stated: “This deal strengthens our capacity to continue increasing our investments in networks , renewables and storage, to meet the strong growth in demand driven by electrification in countries such as the United States and the United Kingdom. This credit facility once again demonstrates the full confidence of the international financial community in our growth strategy, through which we promote energy self-sufficiency and security, economic growth and social well-being.” With this transaction, the company has reinforced its liquidity, which stood at €20.9 billion at the end of the first quarter, and strengthens its leadership in sustainable financing by linking the cost of the credit facility to the achievement of decarbonisation targets and the alignment of its investments in networks, renewables and storage with the European Union taxonomy. BBVA acted as co-coordinator and agent bank, and Bank of America as co-coordinator. The sustainability coordinators were BBVA, BNP Paribas and Crédit Agricole. Following the agreement signed today, more than 97% of the company’s credit lines are now sustainable. Innovative and sustainable financing In recent days, Iberdrola has closed two financial deals that have shown its ability to mobilise large amounts of capital and the strong interest it attracts from leading international banking institutions. Last week, the company closed one of the largest green financing deals in Europe, worth €4.1 billion, for its East Anglia THREE offshore wind farm, with the participation of 24 banks. READ MORE
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14/07/2025 - 14:32 UTC +02:00Carbon2Nature signs agreement with Uría Menéndez to plant ‘El Bosque Uría’ Carbon2Nature, a company belonging to the Iberdrola Group, and Uría Menéndez have announced the launch of El Bosque Uría, an ambitious environmental and social impact project that consolidates their commitment to sustainability, biodiversity and action against climate change. This initiative is part of a pioneering plan to decarbonise legal practice promoted by Iberdrola, which supports collaborating law firms in measuring, reducing and offsetting their carbon footprint through solutions such as those offered by Carbon2Nature. The Uría Forest is located in the Sierra de Francia (Salamanca), in an area of high ecological value that was severely affected by the largest forest fire recorded in the province so far this century. The reforestation project in the Sierra de Francia (Salamanca) will capture more than 70,000 tonnes of CO₂ and restore 90 hectares affected by fire. You can read the full news item in the Carbon2Nature Media Room. READ MORE
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11/07/2025 - 17:49 UTC +02:00Iberdrola breaks its distributed energy record with more than 124,000 GWh The electricity distributed by Iberdrola exceeded 124,201 GWh in the first half of 2025, representing an increase of 4.8% compared to the same period of the previous year, as reported to the Spanish National Securities Market Commission (CNMV). The growth has been particularly notable in the United Kingdom, where distributed energy has increased by more than 30%, exceeding 20,000 GWh, thanks to the integration of the British distributor ENW. In Spain, distributed electricity increased by 2.5% to 44,871 GWh in the first half of the year. More local generation to provide security of supply and energy autonomy Likewise, Iberdrola's own generation has reached 66,300 GWh during the first six months of the year, 2.3% more than in the same period of the previous year. By country, the production increases at Iberdrola Energía Internacional (+15.7%) stand out, thanks to the 68% growth in offshore wind farms in France and Germany; in Brazil (+11.7%), driven by higher hydroelectric production; and in Spain (+6.4%), with growth in both renewable technologies (especially solar) and nuclear and combined cycles. By technology, the improvement in offshore wind production in the second quarter (+42%) and the good performance of solar wind power stand out, which increased by 57.4% in the last three months. This growth in generation has been possible thanks to investments in new capacity, which reaches 57,273 MW after having commissioned 1,800 MW. In particular, the Group's renewable capacity has exceeded 45,000 MW worldwide for the first time – specifically it has closed at 45,082 MW – with a growth of around 4%, and now accounts for 79% of the Group's total capacity. In this way, Iberdrola continues to promote energy self-sufficiency and security in all the countries where it operates, generating 91% of its production in Spain without emissions and 100% in countries such as the United Kingdom, the United States, Australia, Brazil, France, Italy, Germany, Poland, Portugal and Greece. Commitment to the transformation of the sector These data confirm Iberdrola's growth path in both electricity networks and renewable generation thanks to the investments made, which reach 175 billion euros in the last twenty-five years. With this, Iberdrola promotes a safer, more efficient, cleaner and more competitive energy system in all the countries in which it operates. READ MORE
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11/07/2025 - 14:05 UTC +02:00Iberdrola signs green financing for its East Anglia Three offshore wind farm for €4.1 billion with 24 banks Iberdrola has signed green financing for the East Anglia Three offshore wind farm for approximately £3.6 billion (around €4.1 billion). Iberdrola has signed this financing with 23 banks and the Danish Export Credit Agency (EIFO). The participating banks are: BBVA, HSBC, ING, NatWest, SMBC, MUFG, Bank of China, Crédit Agricole, CaixaBank, Santander, BNP Paribas, Helaba, Barclays, ANZ, Rabobank, FAB, ICO, Abanca, Kutxabank, Standard Chartered Bank, Bank of Ireland and CID. Crédit Agricole CIB and MUFG acted as financial advisors for the transaction and A&O and Shearman acted as legal advisors to the borrower. The transaction, which was 40% oversubscribed, is one of the largest of its kind to date and will cover a substantial part of the total investment in the project, estimated at approximately €5.2 billion. The financing will be provided through green project finance, which is a financing structure for large projects in which the loan is granted mainly on the basis of the future income that the project will generate. In other words, the money is repaid with the cash generated by the project once it is up and running, all underpinned by confidence in the shareholders' long-term management of the asset. The financing consists of senior debt (approximately 70%) and capital contributed by the shareholders (the remaining 30%), and is backed by long-term power purchase agreements (CfDs and PPAs), which provide investors with certainty regarding future revenues. Construction has also been supported by a bridge loan granted by MUFG and Crédit Agricole. The funds raised will be used to cover the construction costs of the wind turbines, substations, submarine cables and converter stations, both onshore and offshore. It will also finance the operation and maintenance costs prior to commercial operation, which is expected to start in the fourth quarter of 2026. Project revenues will be supported by long-term contracts: with CfD (Contracts for Difference) contracts awarded by the UK government and a long-term power purchase agreement (PPA) signed with Amazon in 2024. This combination ensures high revenue visibility over the lifetime of the project. East Anglia THREE, the large offshore wind project in the United Kingdom Iberdrola and the Abu Dhabi renewable energy group Masdar have agreed this week to co-invest in the East Anglia THREE offshore wind farm. This €5.2 billion transaction is the largest in offshore wind energy in the decade and the largest alliance ever made by Iberdrola. Under the agreement, each company will have a 50% stake and management of the asset, which will be key to advancing Europe's ambitious goals for the development of this technology. Its completion is subject to the usual third-party approvals. East Anglia Three is being built in the North Sea, 69 km off the coast of Suffolk (United Kingdom). The farm will have 95 Siemens Gamesa wind turbines of 14.7 MW each, enabling it to reach an installed capacity of 1,400 MW. East Anglia Three will contribute significantly to the UK's decarbonisation targets, generating clean energy for more than 1.3 million homes and avoiding the emission of millions of tonnes of CO₂. It will also boost the local economy through job creation and the development of the industrial supply chain. READ MORE
