Iberdrola will increase its investments in the Basque Country by 50% in the period 2025-28

Iberdrola's Executive Chairman Ignacio Galán held a meeting with Basque President Imanol Pradales at the Lehendakaritza in Vitoria-Gasteiz.

During the meeting, Galán outlined the impact of his new strategic plan for the Basque Country. In particular, Iberdrola's new plan includes a 50% increase in investment in the Basque Country, mainly in electricity networks, to reach €1.3 billion, with the aim of integrating new industrial and residential demand and continuing to make the Basque Country a benchmark in digitalisation.

Adding purchases from hundreds of local companies, tax contributions, salaries and dividends to its Basque shareholders, the total impact will reach €12 billion by 2028.

In addition, the performance of Iberdrola's share price over the last year has increased the value of the savings of the 60,000 Basque shareholders invested in Iberdrola shares by more than €2 billion to over €7 billion.

A transformative plan to advance electrification 

Last September, Iberdrola presented the largest investment plan in its history, €58 billion for the period 2025-2028, focused on regulated businesses in countries with an A rating and stable, predictable and attractive frameworks. 

These investments, which represent a 30% increase over the 2021-2024 period, will be mainly allocated to the Networks business (€37 billion), followed by Renewables and Customers (€21 billion). 

Thanks to this plan, Iberdrola will hire more than 15,000 new employees over the next four years. With this plan, the Group will advance the electrification to achieve energy autonomy and security, as well as competitiveness and progress in the territories where it operates.