EnergyWatch

Iberdrola raises bar to 95 GW by 2030

The Spanish utility announces investments of EUR 150bn approaching 2030, after a year when divesting its Siemens Gamesa stake ensured growth on the bottom line.

Photo: Iberdrola

With Iberdrola, it's easy to get lost in the future. Only three months after the Spanish utility announced its plans to invest a whopping EUR 75bn ahead of 2025 and double its renewable energy capacity to 60 GW, Wednesday's publishing of the 2020 annual report boosts these plans even further.

Now, the target date is extended to 2030: Up until then, Iberdrola will invest EUR 150bn, mostly to be spent on further expansion of the green technologies, of which the installed capacity must come to 95 GW by the end of the decade. To put this into context, that's approximately half of what the International Energy Agency (IEA) in November summed up the global renewables capacity to be in 2020.

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