Iberdrola renewables investments creating a ‘virtuous circle of growth’ as profits climb

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Iberdrola.

Iberdrola’s record investment into renewables and networks is outperforming expectations, freeing the utility to invest even more creating a “virtuous circle of growth”, the company’s chairman has said.

Today Iberdrola reported its performance for the first nine months of 2019, with net profit up 20% year-on-year to €2.5 billion.

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

That performance follows a near 12% surge in earnings during the period to €7.5 billion, triggered by record investments into renewables and networks outlined last year.

More than half of the €4.7 billion Iberdrola has subsequently invested into the business has gone towards new renewables as the utility chases a target of developing 13GW of renewables capacity by 2022.

More than half of that has now been commissioned, and the firm expects to have 5,218MW of renewables capacity operational by the end of this year.

While wind and hydro have been strong elements of Iberdrola’s renewables strategy, solar has also found a role to play. The firm has edged closer to starting construction on a 590MW solar farm in Spain that is bidding to become Europe’s largest, while the company was also a prolific entrant in Portugal’s recent record-breaking solar tender.

Speaking of the results, Iberdrola group chairman Ignacio Galán said that the accelerated nature of the company’s investment and early achievement of efficiency and asset turnover targets could pave the way for additional new investments, “creating a virtuous circle of growth and financial strength”.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
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 15, 2025
Norwegian energy firm Statkraft has agreed to divest a portion of its renewable energy portfolio to Serentica Renewables.
September 15, 2025
UNSW spin-out company Lab360 Solar has been awarded funding from ARENA to bring its drone-based PV inspection technology to market.
September 15, 2025
Vikram Solar has secured a contract to supply 200MW of modules to AB Energia, a domestic solar engineering, procurement, and construction (EPC) solutions provider. 
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.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.

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