UK / US: Iberdrola has unveiled plans to invest $68 B (€58 B) by 2028, a 30 % increase compared to its 2021–2024 programme, with a strong focus on regulated electricity networks in the UK and the US.
Around 65 % of the total investment will be directed to transmission and distribution networks, raising Iberdrola’s regulated asset base to $82 B (€70 B), up $47 B (€40 B) since 2020. Investments will be concentrated in A-rated countries with stable regulatory frameworks, providing the company with greater predictability and profitability.
The UK will be the largest investment destination, with $24 B (€20 B) earmarked, followed by the US ($18 B / €16 B), Iberia ($10.6 B / €9 B), Brazil ($8.2 B / €7 B) and other European countries and Australia ($6 B / €5 B). Of the $68, $44 B (€37 B) is allocated to networks and $24 B (€21 B) to generation and customers, much of which is already under construction.
By 2028, regulated networks are expected to contribute 55 % of Iberdrola’s EBITDA, with three-quarters of total earnings shielded from energy price volatility. Net profit is forecast to rise to $9 B (€7.6 B), supported by $61 B (€52 B) in cash flow, while shareholder remuneration of up to $24 B (€20 B) is planned between 2025 and 2028.
The plan also outlines the creation of 15,000 jobs, $77 B (€65 B) in purchases from suppliers, and over $1.8 B (€1.6) for R&D. Iberdrola reaffirmed its target to achieve carbon neutrality by 2030.
Source: Iberdrola
