Spanish utility Iberdrola has announced a €5 billion capital increase as it looks to capitalise on what it described as “an unprecedented investment opportunity” in electricity grids in the UK and United States.
The company said the move aligns with its strategy to accelerate investment in energy networks in countries with strong credit ratings and stable regulatory environments. Over the next six years, Iberdrola plans to invest more than €55 billion in grid infrastructure, with the majority directed toward its UK and US operations.
“We are accelerating our strategic focus on regulated networks in countries with high credit ratings and stable regulatory frameworks,” Iberdrola said in a statement on Tuesday.
The announcement came alongside the company’s half-year financial results, which showed earnings before interest, tax, depreciation and amortisation (EBITDA) rose 5% to €8.2 billion. Growth in the US and other European markets offset a 12% decline in earnings in Spain.
During the first half of 2025, the company invested €5.6 billion, including €2.2 billion in renewables. Iberdrola expects to bring 1.4 gigawatts (GW) of renewable capacity online in the second half of the year.
The company maintained its full-year guidance, forecasting a “double-digit” increase in net profit. It also noted that new tariff structures would have a minimal effect on profitability due to effective supply chain management. “The new tariffs would have a cost impact on investment of less than 1%,” it said.
Iberdrola’s expanded focus on networks comes amid rising demand for grid upgrades to support the transition to low-carbon energy, particularly in mature markets such as the UK and US.
