Iberdrola aims for 16GW of installed solar in five years as part of utility’s largest-ever investment plan

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Iberdrola.

Iberdrola is set to double its renewables capacity by 2025 through a €75 billion (US$88.9 billion) investment package that sees the Spanish utility seek to take advantage of the “global energy revolution” and reach carbon neutrality in ten years.

The company forecasts that its largest-ever funding plan will enable it to increase renewables capacity from its 32GW level last year to 60GW in 2025, with solar PV set to more than double to 16GW.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Around 90% of the investment will be based on renewables production, energy storage and more networks and intelligent solutions for its customers. The remainder relates to its recent acquisition of PNM Resources, owner of utilities in Texas and New Mexico.

Iberdrola CEO Ignacio Galán said the company is “advancing a model for long-term sustainable economic growth capable of meeting the current challenges of society”.

With renewable energy project pipeline of 70.5GW, including 30.7GW of solar, Iberdrola said it is in a “unique position to tackle the global energy revolution”, focusing on countries with ambitious climate and energy targets. The US and UK will account for half of the total investment, while expenditure in Spain will increase by 60% on previous plans. 

In line with the climate objectives of its main markets, Iberdrola has a ten-year goal whereby its installed renewables capacity will increase to 95GW.

Having recently formed a new business unit focused on green hydrogen and revealed plans for what it describes as “Europe’s largest” solar-storage-hydrogen project, Iberdrola said its activities will lead to the development of a supply chain that will support the implementation of new electrolyser manufacturers. In line with European goals, the company plans to install 800MW of green hydrogen capacity in the next seven years.

Despite coronavirus-related disruptions – including a temporary pause on solar and wind plant construction in Spain earlier this year – Iberdrola has updated its financial outlook for 2022, with net profit to be around €4 – €4.2 billion, up from the previously projected €3.7- €3.9 billion.

When the firm secured €800 million in funding in July to spearhead new renewable energy deployment in Spain, CEO Galán said a green recovery from the pandemic is the “perfect opportunity to generate sustainable growth and massive future employment”.

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

October 6, 2025
Genesis Energy and FRV Australia have mutually agreed to terminate their solar development joint venture while maintaining co-ownership of the 63MWp Lauriston solar PV power plant in Canterbury, New Zealand.
October 6, 2025
Indian infrastructure company focused on rooftop and ground-based solar power installations, PVV Infra has secured solar power orders worth INR7.9 billion (US$90 million) through two of its subsidiaries. 
October 6, 2025
US utility AES Corporation is reportedly in discussions to be acquired by Global Infrastructure Partners (GIP), a subsidiary of global asset owning giant BlackRock.
October 6, 2025
Indian solar developer ACME Group has established a new subsidiary to manage its renewable equipment manufacturing business, under which it is planning to scale production of TOPCon PV modules.
October 6, 2025
Rajasthan government will develop 500MW/2,000MWh of standalone battery energy storage systems (BESS) with a four-hour single-cycle configuration and extended operational life.
October 6, 2025
German solar inverter manufacturer SMA Solar will cut 350 jobs in 2026 as it adapts to the “weak” residential PV market.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland