Iberdrola to Double Investment in UK to $31B [Yahoo! Finance]
IBERDROLA SA S/ADR (IBDRY)
NASDAQ:AMEX Investor Relations:
iberdrola.com/shareholders-investors
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Source: Yahoo! Finance
Spanish energy firm Iberdrola is planning to more than double its investment in the United Kingdom (UK) ahead of the International Investment Summit in London next week. Iberdrola anticipates boosting its investment in the UK to around $31.28 billion (GBP 24 billion), doubling its previous plan to invest $15.64 billion in the same period. Iberdrola has invested $39.10 billion (GBP 30 billion) in the UK over the last 15 years through its ScottishPower business, “driven by the country's clear and stable policies and its predictable regulatory frameworks,” the company said in a news release. It also cited “Britain's significant power demand growth prospects and the energy policies set out to promote Net Zero, industrialization and electrification”. After the Electricity North West (ENW) integration was announced in the summer, the UK had already become Iberdrola's largest investment destination until 2026, the company noted. Iberdrola said around two-thirds of the investment wou
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