Iberdrola, through its subsidiary Scottish Power, will increase its investment in the United Kingdom by 12,000 million pounds (about 13,823 million euros) in the period 2024-2028. Notify the company.
In particular, the energy company led by Ignacio Galán has confirmed an investment of 7,000 million pounds (about 8,065 million euros) in this inverter package. Net zero and renewable energy sector in the country”.
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British First Minister Rishi Sunak revealed this Iberdrola investment figure in the country ahead of the World Investment Summit at Hampton Court Palace this month.
In its strategic plan 2023-2025, which foresaw a record investment plan of 47,000 million euros during that period, the United Kingdom was the second most important destination for Iberdrola’s investments, with 16% of the total investment -6,700 million pounds, the most invested. by the company in the country -, just behind the United States – 47% – and behind Spain (13%).
This investment in the United Kingdom is split between its commitment to the electricity grid business and its push for renewable energy to increase the country’s electrification.
Iberdrola, through Scottish Power, has more than 40 offshore and onshore wind farms operating in the United Kingdom, with a total installed capacity of 2,900 megawatts (MW).
Also, construction is underway on a megaproject such as the East Anglia Three offshore wind farm, the world’s second-largest project with a capital investment of £4,000 million (about €4,600 million).
The British government has announced that, including those from Iberdrola, the world’s leading investors have committed £29,500 million (about €33,977 million) to new projects and capital in the United Kingdom, tripling the amount raised at the last World Investment Summit in 2021.
