Iberdrola has signed a €2,500 million credit facility with 32 international banks, in a deal the company said will strengthen liquidity and support its clean energy growth plans.
The Spanish utility announced today that the transaction was oversubscribed by 45%, underscoring what Iberdrola described as the global financial community’s confidence in its strategy.
“This credit facility once again demonstrates the full confidence of the international financial community in our growth strategy, with which we promote energy self-sufficiency and security, economic growth and the well-being of society,” said Iberdrola chairman Ignacio Galán.
The agreement has a five-year term with the option of a two-year extension and includes multi-currency capability.
Iberdrola said the financing has the most competitive cost of any facility currently available to the group.
Avangrid, Iberdrola’s US subsidiary, has also joined the operation, reflecting what Iberdrola called “great growth opportunities in the country.”
The company said the fresh credit line would help fund investments in renewables, energy storage and networks, especially in markets such as the United States and the United Kingdom, where electrification is driving increased demand.
Iberdrola reported liquidity of €20.9 billion at the end of the first quarter of 2025.
It added that the new facility reinforces its leadership in sustainable finance, with the cost linked to meeting decarbonisation targets and aligning its investments with the European Union taxonomy.
According to Iberdrola, more than 97% of its credit lines are now classified as sustainable.
BBVA acted as co-coordinator and agent bank, with Bank of America as co-coordinator. Sustainability coordinators were BBVA, BNP Paribas and Credit Agricole.
The deal follows Iberdrola’s recent financial close of a €4.1 billion green financing package for its East Anglia Three offshore wind project in the UK, involving 24 banks.
Galán said both transactions demonstrated Iberdrola’s capacity to mobilise capital at scale to fund energy transition infrastructure.
“We are increasing our investments in networks, renewables and storage to respond to the strong growth in demand resulting from electrification in countries such as the United States of America and the United Kingdom,” Galán said.