Iberdrola has provided details of its investment plans in the UK, focused on electricity networks and renewables at the UK Global Investment Summit in London.
With more than £2 billion invested in the UK as part of its previously announced £6.7bn programme for the years 2023-25, the company plans to build on this with investments of over £7 billion more in the years 2026-28. This amounts to a £12 billion investment programme for 2024-28. Around two-thirds of the 2024-28 investments will be dedicated to transmission and distribution electricity networks. In addition, the company will continue investing in its East Anglia 3 offshore wind farm, as well as in onshore wind and solar projects, energy retail and green hydrogen. These investments could be further increased with additional offshore wind opportunities, like East Anglia 1 North and East Anglia 2, which the company has ready for upcoming auctions.