Iberdrola’s €15.5 B investment package
Around €21.5 billion will be invested into its network business, while will be invested €15.5 billion in renewables.
Image for illustration purposes.
Spain, Madrid: Spanish renewable energy giant Iberdrola has announced plans to invest €41 billion ($44.83 billion) over the next three years, focusing on power grids like Italian rival Enel as the industry seeks better returns. The new plan builds on the strategic shift Iberdrola announced in 2022, when it said it would be taking a more selective approach to renewable energy projects.
Overall net investments for the company will stand at €36 billion, as €5 billion will come from partners. Europe’s largest utility by market cap aims to invest €21.5 billion in its network business, approximately 60% of net investments. Renewables will get around €15.5 billion, including €5 billion coming from partners.
Iberdrola expects net profit to grow to between €5.6 billion and €5.8 billion in 2026, while core earnings, before interest, tax, depreciation, and amortisation, are seen at between €16.5 billion and €17 billion. Shareholders will get €11 billion through 2026. By the end of the plan, dividends should stand at between €0.61 and €0.66 per share, with a floor of €0.55.
Source: Reuters