Iberdrola has posted a €2.4bn profit for 2015, up just over 4% on the previous year, driven by a strong performance in the company’s renewables division.
The Spanish utility said EBITDA rose 18.6% to €1.5bn in its renewables business marking a “positive business performance”.
The company said this was due to the recovery of prices in Spain, a strong performance in Latin America and in the UK where the “contribution of West of Duddon Sands offshore wind farm has been particularly noteworthy”.
In a presentation today, the company said it would continue to invest in renewables with 33% of future investment spending to go to the sector in the UK, Iberia, the US and Mexico.
Image: West of Duddon Sands (Iberdrola)
Wind drives Iberdrola gains
Spanish utility banks €2.4bn profit for 2015, up 4% on the previous year
By EBS