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 Iberdrola will allocate a large part of its investment plan of 41,000 million euros to the United States, with a view to investing in its distribution and transmission networks, according to an interview with Iberdrola Executive Chairman, Ignacio Galan, in the Financial Times. 

Commenting ahead of the presidential election this year, Mr Galán stressed: “The focus in the United States is networks, and networks are based on the regulation of the states, not dependent on federal authorities at all,”

Mr Galán also said that he hoped to see the IRA maintained after the election, as it provides long-term certainty for investors, but stressed that all the planned projects for the 2024 to 2026 plan already have tax credits secured. "We are not depending in our plan on the IRA being maintained,” he said. 
The president detailed the keys to the 2024-2026 Strategic Plan today in London, during the company's Capital Markets & ESG Day.

The largest European electricity company by market value has announced that it will allocate 34% of that total to the US in the next three years, while the United Kingdom will receive 24%, that is, almost 10 billion euros.

Iberdrola plans to make investments in renewable energy generation, allocating the planned 15.5 billion euros to projects in the advanced construction phase or about to begin. The investment should add about 9,000 MW to its portfolio of approximately 42,000 MW, helping it reach its goal of 52 GW of installed renewable capacity by the end of 2025. It plans to allocate the majority of those funds to offshore wind projects in the United States, United Kingdom United, France and Germany.

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