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

September 16, 2025
Sunotec has launched Sunotec Nordic to spearhead solar and hybrid renewable project development across the Nordic region.
September 16, 2025
IB Solar is investing INR30 billion (US$340 million) in a 4GW TOPCon solar cell and module manufacturing plant in Jewar, Uttar Pradesh.
September 15, 2025
Sunrun has priced a securitisation of leases and power purchase agreements, taking its non-recourse debt capital raised in Q3 above US$1.5 billion. 
September 15, 2025
Norwegian energy firm Statkraft has agreed to divest a portion of its renewable energy portfolio to Serentica Renewables.
September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines