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Iberdrola is stepping up global growth with investment rising to €34 billion in the 2018-2022 period. In particular, of the €34 billion total investment, 86% will be in regulated or long-term contracted activities, in line with the company's strategy of focussing on businesses characterised by stable and predictable returns.
Thus, 47% of the overall amount - €16 billion - will be invested in Networks and 39% - €13.3 billion - in Renewables. Generation and Supply will receive 11% of the total - €3.8 billion -. As a result, Iberdrola will have increased its installed capacity by 29% throughout the implementation of its strategic outlook. The company is currently advancing development and installation of 10,113 new megawatts (MW), of which 65.3% - 6,606 MW - correspond to renewable energy projects.
In Renewables, Iberdrola will have 9,900 new MW on stream by year-end 2022 compared to the 2017 close. The company will also reach 90 gigawatts per hour (GWh) of storage capacity in 2022, an increase of 20 GWh on current levels.
The new investments planned for 2018-2022 allow Iberdrola to step up expansion and improve its earnings forecasts for the period. The company expects to close 2022 with net profit between €3.7 billion and €3.9 billion, an increase of 30% on 2018 and an EBITDA in excess of €12 billion.
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