Iberdrola plans to invest Euro 75 billion towards energy transition by 2025. More than Euro 7 billion will be allocated to renewables and over Euro 4.5 billion to networks. 83 per cent of the investment is targeted at countries with an A rating. Almost half of the investment, amounting to about Euro 34 billion, is to be directed towards the United States and the United Kingdom. The company plans an average investment of 10 billion Euros per year between 2020 and 2022, and 13 billion Euros per year in the period 2023-2025.
A large share of investments is aimed at renewable energy, which makes up about 51 per cent of the organic investments. This is expected to almost double Iberdrola’s renewable portfolio by 2025. The company expects to reach 60 GW in 2025 from 32 GW in 2019. The clean energy portfolio is targeted to have 26 GW of onshore wind, 4 GW of offshore wind, 16 GW of solar and 14 GW of hydro power capacity. The company also plans to install 600 MW of capacity and produce 15,000 tons of green hydrogen.
As per the company, the investment will lead to the sustenance of 500,000 jobs over the world and the creation of 20,000 more jobs. Iberdrola plans to become carbon neutral by 2030 and reduce its carbon dioxide emissions by 86 per cent by the end of the decade.
