Spain-headed energy utility Iberdrola, S.A has revealed that will invest EUR 32 billion between 2018 and 2022, setting solid foundations for sustainable growth in the next decade. Of this, around EUR 11.5 billion will be used to invest in new renewable power generation capacity.
According to the company, it will invest EUR 32 billion over the period between 2018-2022, setting solid foundations for sustainable growth in the next decade. More than 90 percent of the total amount will be allocated to regulated activities or long-term contracts, in line with the group’s strategy of investing in businesses with “stable and predictable” returns.
Almost half, EUR 15.5 billion will be invested in networks, EUR 11.5 billion in renewables, and EUR 2.8 billion in generation and retail. The remaining 4 percent, some EUR 1.4 billion will be allocated to contracted generation. The bulk of planned investments – 75 percent – are already committed or practically secured.
With these investments, the company expects renewable capacity to increase by 24 percent from 2017 year-end to 36.2 GW. Its storage capacity will also grow from the current 80 GWh to 100 GWh at the end of the period.
