Iberdrola 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.