Iberdrola has launched a €5bn capital raise to seize “an unprecedented investment opportunity” in electricity grids in the UK and US markets.
The Spanish energy giant said it is “accelerating its strategic focus” on networks in countries with high credit ratings and attractive regulations.
Investments into networks will exceed €55bn over the next six years, predominantly in the UK and US, it said.
In a financial update for the first half of the year, Iberdrola reported a 5% increase to EBITDA to €8.2bn.
A 12% drop in earnings in Spain was offset by growth in the US and the rest of Europe.
Investments during the first six months of the year totalled €5.6bn, with €2.2bn allocated to renewables projects.
The full-year outlook anticipates a “double-digit” increase in net profit with “no impact on results from the new tariffs, which would have a cost impact on investment of less than 1%, thanks to supply chain management”.
Iberdrola expects to put 1.4GW of renewables projects into operation during the second half of 2025.