News
-
09/05/2025 - 13:54 UTC +02:00Iberdrola sells 100% of its smart metering business in the United Kingdom for 1,060 million euros Iberdrola has signed an agreement with Macquarie, a global financial services group headquartered in Australia, to sell 100% of SP Smart Meter Assets Limited (SPSMAL). According to the terms of the transaction, the valuation of SPSMAL amounts to approximately 900 million pounds (1,060 million euros at current rates). The transaction, which is subject to approval by the United Kingdom’s competition authority, is expected to complete in the third quarter of 2025. SPSMAL, based in the United Kingdom, currently manages 2.7 million meters. Macquarie is currently one of the largest providers of independent electricity meters in the UK. Established in 2003, its meter business currently manages more than 10 million meters in total, including 7.5 million smart meters and 2.5 million traditional meters across Great Britain. It has provided more than £1.5 billion in funding to assist with Britain’s smart meter rollout. By the end of 2024, 38 million smart meters were installed in British homes and small businesses with support from the Smart Meter Rollout Programme, led by the UK energy regulator (Ofgem). Alliances to growth The transaction is part of Iberdrola's strategy of rotating non-strategic assets. In fact, in accordance with its Strategic Plan 2024/2026, Iberdrola already exceeds 10,000 million euros in alliance and divestment operations. This transaction is the second largest divestment in Iberdrola's history after the sale of the combined cycle plants in Mexico in 2024. The alliance policy is Iberdrola's strategy to accelerate its growth and promote the electrification of the economy while maintaining its financial strength. In fact, in recent months it has closed the following alliances: * A few days ago, Iberdrola closed its offshore wind alliance with Kansai with the investment of 1,280 million euros in the Baltic. * Iberdrola has extended its alliance with GIC, the Singaporean fund, in Brazil and has sold 50% of Itabapoana. * It has closed the sale of Maine Natural Gas for about$90 million to the U.S. energy company Unitil. * It has carried out the sale of the Baixo Iguaçu hydroelectric power plant. * It has bought the British distributor ENW in a deal valuing the company at 5,000 million euros * It has closed the merger with Avangrid , after the acquisition of the 18.4% that it did not control to strengthen the electricity grid business in the US. * In February 2024, it sold more than 8,400 MW of combined cycle gas in Mexico for $6,200 million. * In December 2023, Iberdrola closed the strategic agreement with Masdar to co-invest up to €15,000 million in offshore wind and green hydrogen in Germany, the United Kingdom and the US, the first milestone of which was the agreement for the Baltic Eagle offshore wind farm in Germany. * In April 2023, the company closed an alliance with GIC for the expansion of transport networks in Brazil for 430 million euros. * In March 2023, Iberdrola and BP launched a joint venture to deploy 11,700 fast-charging points in Spain and Portugal and have formed a 50/50 joint venture to develop a 25 MW green hydrogen project, the largest plant in Spain. * In January 2023, it signed an alliance with Norges Bank to co-invest in renewables that, after its expansion, will reach 2,500 MW. * Iberdrola and MAPFRE have continued to make progress in their strategic alliance by incorporating 150 new MW through a joint venture, which already has 450 MW. * In addition, Iberdrola signed an alliance with Energy Infrastructure Partners to co-invest in the Wikinger offshore wind farm and boost its offshore wind portfolio. READ MORE
-
08/05/2025 - 18:27 UTC +02:00National Wealth Fund backs Scottish Power to boost UK grid upgrades The National Wealth Fund (NWF) has today announced a £600m commitment to ScottishPower, Iberdrola’s subsidiary in the UK, to upgrade the British power grid supporting hundreds of jobs and helping to pave the way for a new era of clean electricity. The investment forms part of a €1.6bn financing package, led by Bank of America as Sole Debt Arranger and including Bank of America, Bankinter, BNP Paribas, Caixabank, Lloyds Bank, NatWest and Banco Sabadell as lenders. NWF’s financing will ensure the swift deployment of capital needed to deliver seven of ScottishPower’s priority transmission grid upgrade projects. These projects will help to facilitate more renewable energy onto the system, reduce congestion costs, lower the cost of electricity for businesses and consumers, and unlock growth across the UK. The scale of investment required to upgrade the UK electricity grid in support of the Government’s Clean Power 2030 Action Plan is significant. In its independent advice to the Government on the pathway towards the 2030 ambition , the National Energy System Operator (NESO) estimates more than €70 billion investment is required in the years to 2030 to support the delivery of a clean power system. You can read the full story at the ScottishPower Press Room . READ MORE
-
08/05/2025 - 17:00 UTC +02:00Iberdrola España and Renault Group sign strategic MOU to promote electromobility Iberdrola España , the Iberdrola subsidiary in Spain, and Renault Group are strengthening their relationship through the signing of a Memorandum of Understanding (MOU) that establishes new strategic lines of collaboration between the two companies to drive the energy transition and electromobility in Spain. The agreement includes pioneering decarbonisation and energy efficiency projects, the promotion of sustainable and accessible mobility with a unique offer for customers of both companies and the development of technologies and infrastructure for recharging points. In order to promote energy efficiency, the partnership between the two companies will promote technological innovations and advanced energy solutions, such as long-term renewable energy contracts (PPAs), renewable self-consumption, energy storage and electrification, and green hydrogen for industrial processes. Both companies will also collaborate in the development and deployment of Smart Charging technologies to optimise electric charging management, including feeding electricity from the vehicle to the grid or the ability to power the customer's home with the vehicle's power. Customers will be able to extend these benefits and reduce their energy bills through Iberdrola España's Advanced Smart Assistant (ASA), which promotes smart vehicle charging, adapting to the type of home and the characteristics of the electricity system. This agreement joins the PPA signed by Iberdrola España and Renault Group for the long-term supply and consumption of 282 MW of renewables at the carmaker's plants in Spain, as well as a partnership agreement to promote the accessibility of electric vehicles to the public with an €800 discount on the purchase of any Renault Group brand car through the energy saving certificates. You can read the full story at Iberdrola España's Media Room . READ MORE
-
07/05/2025Iberdrola, the first company in the world to issue a green bond under European Union and ICMA standards Iberdrola was the first Spanish company to issue a bond under the new EU green bond standard (EU GBS). It did so in an operation that allows it to raise €750 M over 10 years. The company is also the first in the world to issue a bond that simultaneously complies with the EU GBS and the Green Bond Principles of the International Capital Market Association (ICMA). Demand was five times the amount placed, reaching the largest book of a senior Iberdrola transaction since 2021, demonstrating investor confidence in the utility and investor appetite for this type of green instrument, which brings together the best market standards for the first time. The 750 M raised from the issue closed today will be used for the company's various renewable projects, some already in operation and others under construction. The issue attracted the attention of investors and demand was strong at more than €3.7 B, to obtain a final credit spread of 110 basis points over the corresponding reference (midswap at that ten-year term), a level which allowed setting a coupon of 3.5%. The total cost represents a negative issue premium over the theoretical value of the bond according to the secondary market, the lowest of all issues since the announcement of the Trump Administration's tariffs. In the end, more than 170 investors participated in the operation, with the placement being distributed in the United Kingdom (32%), France (28%), Germany (11%), Benelux (10%), Spain (9%) and other European countries (10%), with 93% of the investors sustainable. This is Iberdrola's second public operation, after the green bond indexed to its share price launched last March with which it raised €400 M over five years with a coupon of 1.5%. Bank of China, BBVA, CIC, Crédit Agricole, Deutsche Bank, HSBC, MUFG and UniCredit participated in the placement. The transaction strengthens the company’s already comfortable liquidity position of €20.9 B at the end of March, at excellent conditions and at a good market moment, while offering investors the possibility of participating in a senior Iberdrola transaction in the first part of the year. Iberdrola is characterised by its ability to combine international growth with solid financial strength. At the end of the first quarter Iberdrola increased its funds from operations (FFO) by 11% to over €3.5 B, enabling it to maintain its financial strength and rating after consolidating ENW. The cash flow to net debt ratio was 22.3% in the first three months of the year. Improved forecasts Thanks to its diversified business, with selective investment in renewables, significant growth in grids, with relevant financial strength, the company forecasts a double-digit increase in adjusted net profit in 2024, taking into account the positive impact from regulated assets and US accounting rules. This growth is underpinned by a more than 10% increase in regulated assets with better tariffs. In addition, the group plans to bring nearly 4,000 MW of renewables into operation this year, with 100% of energy sold for 2025. READ MORE
-
07/05/2025 - 12:12 UTC +02:00Avangrid launches an innovative power grid mapping project using drones and AI Avangrid, Iberdrola’s US company , is using the latest air and ground technology to build and plan a more reliable and safer grid. Using special vehicles and drones, Avangrid's Central Maine Power (CMP) distribution teams are inspecting all of the company's distribution lines on public roads to detect potential risks, make any necessary improvements and take preventive measures that increase the grid’s reliability and safety. For the first time, with the help of artificial intelligence , the company will be able to quickly assess the more than 38,000 kilometres of lines to detect problems in utility equipment. This initiative will deploy drones and personnel on the ground to check it before taking the necessary steps to improve and repair the grid infrastructure. You can read the full story at the Pressroom. READ MORE
-
30/04/2025Iberdrola will pay at least €0.404 per share as dividend in July, 15.1% more than in 2024 PRELIMINARY FINAL DIVIDEND TIMELINE 2 July 2025 Communication of the number of free allotment rights necessary to receive one share and the amount of the gross final dividend per share. 3 July 2025 Publication of the capital increase announcement. Last day shares entitled to participate in the dividend can be traded. 4 July 2025 Date after which the shares cannot participate in the "Iberdrola Flexible Remuneration" system. Also known as the ex-date. Start of trading periods for free allotment and common election rights. 17 July 2025 End of trading periods for free allotment and common election rights. 28 July 2025 Payment of the final dividend to those who have opted to receive cash through this Flexible Remuneration Option. 30 July 2025 Ordinary trading of the new shares to be issued under the capital increase expected to start. READ MORE
-
30/04/2025 - 08:33 UTC +02:00Record investments of €17.3 billion in the last 12 months boost our profit in the Q1 to more than €2 billion Commenting on the results, Ignacio Galán, Executive Chairman of Iberdrola, said: “Our focus on regulated networks and selective investment in renewables in A-rated markets has continued to contribute to sustained growth in results and dividends ". READ MORE
-
25/04/2025 - 13:33 UTC +02:00Record-breaking monopile installation sets a solid foundation for ScottishPower’s biggest-ever offshore windfarm The offshore construction programme for ScottishPower’s biggest-ever renewables project is officially underway with the installation of the first foundation for the green energy company’s £4 billion East Anglia THREE offshore windfarm. Standing at 83.89m tall, 10.6m in diameter and weighing 1,800 tonnes, the monopile also represents a new offshore wind industry record – becoming the largest installed to date from a jack-up vessel in Europe. Charlie Jordan, ScottishPower Renewables CEO, said: “The installation of our first East Anglia THREE foundation is a real wow moment for both ScottishPower and Iberdrola. It represents a mammoth feat of engineering, skill and a huge amount of work. We’re talking an incredible 1800 tonnes of steel, safely and securely lifted and then precisely placed in the exact spot in an area the size of almost 43,000 football pitches. We’ve never built anything of this scale before! “East Anglia THREE will be the biggest-ever windfarm across the whole of the Iberdrola group and the second largest in the world when it comes into operation. To visibly see it starting to take shape in the North Sea is a real milestone moment and definitely something to be proud of. This project is a fantastic example of how we’re generating more secure, green electricity for the UK; investing in the country’s clean energy future; and supporting jobs and opportunities for decades to come.” The monopile – manufactured by Joint Venture Navantia Seanergies Windar Renovables (JVNW) – was installed by the Seaway Ventus jack-up installation vessel. It is the first of 95 monopiles being manufactured for the 1.4GW windfarm – the biggest in the ScottishPower and Iberdrola portfolios. JVNW is fabricating 45 of the 95 foundations for the project, with the remaining 50 being manufactured by Haizea. Each of the 95 monopiles will be between 67 and 85 metres in length, up to 10.6 metres in diameter and weigh between 1200 and 1800 tonnes. They will support 95 14.7MW Siemens Gamesa turbines that will generate a total of 1400MW of clean energy – enough to power the equivalent of more than 1.3 million homes. The first of the 95 transition pieces – produced by Windar Renovables – has also been installed, with each 20 metres in height, 8 metres in diameter and weighing more than 400 tonnes. Seaway7 is installing all of the East Anglia THREE monopiles and transition pieces. To achieve this, the Seaway Ventus jack-up vessel has been fitted with a custom-built mission equipment spread that was designed, fabricated, and installed in under two years to meet the project schedule and performance requirements. Lloyd Duthie, Seaway7 Vice President UK, Ireland & Asia, said, “We are proud to have successfully installed the first foundation for East Anglia Three. This achievement comes after two years of preparation, resulting in Seaway Ventus installing the largest monopile from a jack-up vessel in Europe. It really is testament to the scale of engineering that can be achieved together with partners across the supply chain. We look forward to progressing this significant multi-year constructionproject, encompassing foundation and inner-array cable installation, with ScottishPower Renewables to deliver a substantial contribution to the UK's renewable energy ambitions.” The installation of all 95 turbines is expected to be completed by early 2026. READ MORE
